Romania’s Gross Domestic Product (GDP) estimated for Q1 2016 amounted to 146,716.3 million lei current prices, up 4.3 percent in real terms from Q1 2015, downwardly adjusted from the June 7 provisional data, according to a press statement released by the National Institute of Statistics (INS) on Friday.
“As against the same quarter of 2015, the Gross Domestic Product recorded an increase by 4.3 percent for the unadjusted series and by 4.1 percent for the seasonally adjusted series; the seasonally adjusted series of the quarterly Gross Domestic Product did not change, with the revision of the estimates for Q1 2016 versus the provisional (1) estimates released June 7, 2016 being insignificant,” says INS.
The June 7 estimates indicated a GDP of 150.027 billion lei current prices.
According to INS, when compared with the provisional version (1), the GDP volume is unchanged and the total gross value added grew by 0.1 percentage points, increasing its contribution to the GDP growth rate by 0.1 percentage points; the net taxes on products volume and contribution decreased by 0.9 and 0.1 percentage points, respectively.
Gross value added volume by industries did not record significant changes (ą 0.1 percentage points), while an increase of 0.2 percentage points was recorded in shows, culture and recreation activities; repair of household goods and other services.
“From GDP uses standpoint, significant changes in the contribution to the growth rate of the GDP between the two estimates were recorded for: final consumption expenditure of households, from +6.4 percent to +6.1 percent, as a result of their activity volume decrease from 110.0 percent to 109.5 percent; individual and collective final consumption expenditure of General Government, from +0.4 percent to +0.6 percent, as a result of their activity volume increase from 102.7 percent to 103.9 percent; gross fixed capital formation, from +1.3 percent to +0.4 percent, as a result of their activity volume decrease from 107.0 percent to 102.3 percent, and in the gross export, from—3.4 percent to—2.0 percent,” according to the INS statement. More…