Romania‘s economic output increased by 5.9% in 2021, after contracting by 3.7% in the previous year, preliminary data from the country’s statistical board, INS showed on Friday, confirming March provisional estimates, according to See News.
In the fourth quarter alone, Romania’s gross domestic product (GDP) grew by 2.4% year-on-year, following a 6.9% annual rise in the third quarter, INS unadjusted data showed, confirming March estimates.
Based on seasonally adjusted figures, Romania’s economy rose by an annual revised 3.9% in the fourth quarter, compared to a revised annual 8% increase in the previous quarter. In March, INS estimated that Romania’s economic output increased by an annual 3.7% in the fourth quarter.
On a quarterly comparison basis, Romania’s GDP fell by 0.1% during September-December, following a 0.4% quarterly growth in the previous quarter, seasonally adjusted data showed.
Final household consumption volume expanded by an annual 6.1% in 2021, INS said, revising its March estimation of 5.6% growth.
Imports of goods and services rose by an annual revised 14.6% in 2021, while exports increased by a revised 12.5%. INS estimated in March that imports rose by an annual 13.7%, while exports increased by 11.1%.
The full-year 2021 economic growth figure is below the government’s estimates.
Finance ministry analysts said in February that Romania’s economic output will increase by an estimated 6.2% in 2021, revising their previous forecast for 7% growth.