Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. Romania’s GDP  up 0.8pct in 2024 y-o-y

Romania’s GDP  up 0.8pct in 2024 y-o-y

May 8, 2025

Romania's estimated gross domestic product (GDP) for 2024 was RON1,760.11 billion in current prices, up 0.8% in real terms from 2023, the National Institute of Statistics (INS) reported on Thursday.In Q4 2024, GDP was 0.6% higher in real terms than Q3 2024, and also up 0.5% over Q4 2023"The seasonally adjusted series of the quarterly Gross Domestic Product was recalculated as a result of the revision of the estimates for the Q1-04 2024, with changes being recorded from the version published on March 7, 2025," according to INS.The seasonally adjusted Q4 2024 GDP is RON 451.39 billion in current prices, up 0.6% in real terms from Q 3 2024 and 0.5% from Q4 2023.Regarding the contributions to GDP growth by resource categories, for 2024, the INS specifies that there were no changes in its version published on March 7, 2025.Thus, agriculture, forestry and fisheries contributed -0.2%, from -0.4% previously, as a result of a change in the volume of activity by +4.6%, from 89.5% to 94.1%.Industry did not contribute to GDP growth (+0.0%) in the two estimates, and the volume of activity changed by -0.2%, from 100.0% to 99.8%. Constructions reported the same contribution to the GDP change (-0.2%) between the two estimates, and the volume of activity changed from the previous estimate by -0.2%, from 97.6% to 97.4%.As regards wholesale and retail trade; repair of motor vehicles and motorcycles; transport and storage; Hotels and restaurants, the contribution was adjusted from +0.4% to +0.3%, as a result of the change in the volume of activity by -0.4%,from 102.1% to 101.7%.Information and communications did not contribute to GDP growth (+0.0%) in the two estimates, and the volume of activity did not change from the previous estimate (100.3%).Also, financial intermediation and insurance did not contribute to GDP growth (+0.0%) in the two estimates, and the volume of activity did not change from the previous estimate (99.7%). Real estate trades reported the same contribution to the change in GDP (-0.1%) between the two estimates, and the volume of activity did not change from the previous estimate (98.7%). Professional, scientific and technical activities; administrative services and support services activities did not contribute to GDP growth (+0.0%) in the two estimates, and the volume of activity did not change from the previous estimate (100.1%).In terms of public administration and defence; social security in the public system; education; healthcare and social work, there were no changes in the contribution between the two estimates (+0.1%), and the volume of activity decreased from the previous estimate by 0.1%, from 100.6% to 100.5%.Entertainment, cultural and recreational activities; repairs of household products and other services recorded the same contribution to GDP growth (+0.2%) between the two estimates, and the volume of activity did not change from the previous estimate (106.8%).In 2024, GDP growth changed in the current provisional version, from the previous version, by -0.1%, from 100.9% to 100.8%.The volume of net taxes per product decreased by 1% in the current provisional version from the previous version, from 109.6% to 108.6%.In terms of GDP use, changes in the contribution to GDP growth in 2024, between the two estimates, were recorded in: household final consumption expenditure, from +3.6% to +3.7%, as a result of an increase in its volume by 0.1%, from 105.9% to 106.0%; on final consumption expenditure and public administration expenditure, from -0.2% to +0.1%, as a result of an increase in its volume by 5.0%, from 97.0% to 102.0%; the actual collective consumption expenditure of general government, from -0.2% to 0.0%, as a result of an increase in its volume by 2.1%, from 97.6% to 99.7% and the gross fixed capital formation, from -0.4% to -0.9%, as a result of a decrease in its volume by 1.6%, from 98.3% to 96.7%.  

The text of this article has been partially taken from the publication:
http://actmedia.eu/daily/romania-s-gdp-up-0.8pct-in-2024-y-o-y/113486
Read in full - click here
Over 50 NGOs call on Bucharest city officials to increase fines for illegal deforestation

Over 50 civic and environmental organizations are calling on the General Council of the Municipality of Bucharest to increase fines for illegal deforestation. At the moment, the fine for the illegal cutting of a tree is only RON 50 (EUR 10), or even RON 25 (EUR 5) if paid within 15 days. The organizations have […]

Study: Nearly 7 in 10 Romanians say job impacts wellbeing, only 37% receive extra benefits

Nearly seven out of ten Romanian employees say their job negatively impacts their overall wellbeing, while only 37% receive any form of non-wage benefits, according to a new study conducted by Reveal Marketing Research in partnership with Up Romania. The research explored how Romanians define complete wellbeing, or “Wellbeing 360°,” and what factors most influence […]

Romanian far-right politician Călin Georgescu accuses president Nicușor Dan of pressuring judges

Former presidential candidate Călin Georgescu asked the Supreme Council of Magistracy (CSM) to take measures against president Nicușor Dan for allegedly pressuring judges and interfering in the justice system, G4media.ro reported. The far-right...

Endava signs framework agreement to help migrate public services to Romania’s Government Cloud

Technology company Endava has signed a framework agreement with Romania’s Authority for Digitalization (ADR) to support the migration of at least 30 government applications to the new Government Private Cloud, a project funded through the National Recovery and Resilience Plan (PNRR).  The collaboration marks a major step in Romania’s digital transformation strategy, aimed at creating […]

Cold cuts producer Cris-Tim announces IPO dates on Bucharest Stock Exchange

Cris-Tim, the leader in the Romanian cold cuts and ready meal markets, announced on October 15 that it has received approval from the Financial Supervisory Authority to list its shares on the Bucharest Stock Exchange (BVB). The offering is taking place between October 17 and 29. The initial public offering consists of the sale of […]

Romanian Parliament passes private pensions law limiting disbursements

The private pensions law, which sets out how money can be withdrawn from private pension systems like Pillar II and III, passed the final vote in Parliament and is heading for promulgation. According to the new regulation, participants could withdraw at most 30% of the accumulated savings upon retirement. The rest of the money is […]