Romania GDP Annual Growth Rate

Last Release

Sep 30, 2024

Actual

1.1

Units In

0.8

Frequency

Quarterly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
13.9 Jun 2021	-10.1 Jun 2020	3.05 %	1996-2024	Institutul National de Statistica

On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (14 percent). Exports of goods and services account for 41 percent of GDP and imports account for 41 percent.

Latest Updates

Romania's GDP grew by 1.1% year-on-year in the third quarter of 2024, in line with preliminary estimates and following a 0.9% rise in the previous three-month period, a second estimate showed. This marked the fourteenth consecutive quarter of economic expansion. Household consumption increased by 3%, and gross fixed capital formation went up by 0.3%. However, government spending dropped by 0.3%. Net external demand also contributed negatively to the GDP, as exports fell by 0.9% while imports rose by 0.5%. On a seasonally adjusted quarterly basis, the economy contracted by 0.1% in the September quarter, after a 0.1% growth in the previous quarter.