Romania‘s National Statistics Institute (INS) announced on Tuesday that the Gross Domestic Product (GDP) recorded an increase of 13% for the unadjusted series and 13.6% in seasonally adjusted terms for the second quarter of 2021 compared to the previous year, according to a press release.
For the first half of 2021, Romania’s GDP rose by an annual non-adjusted 6.5% and by a seasonally-adjusted 6.2% year-on-year.
Romania’s GDP went up by 1.8% in the second quarter of 2021 compared to the previous quarter.
The country’s economic output will increase by an estimated 7% in 2021, finance ministry analysts said in August, revising their previous forecast for 5% growth, according to seenews.com.
Romania’s economy contracted by 3.9% in 2020, compared to a 4.1% expansion in the previous year.
In Q2 2020, Romania’s economy contracted by 10% (9.4% in seasonally adjusted terms) compared to the same period of 2019. Considering the strong growth in Q2 2021, the GDP not only recovered the loss in Q2 2020 but was also higher than the level recorded in Q2 2019.