Romania GDP Annual Growth Rate

Last Release

Jun 30, 2024

Actual

0.8

Units In

0.1

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	3.07 %	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 growth was revised higher to 0.9% year-on-year in the second quarter of 2024, up from a second estimate of 0.8% and faster than the 0.5% rise in the previous quarter. This marked the thirteenth successive period of expansion, although it was the second slowest pace in the sequence, as external trade contributed negatively to the GDP, with exports shrinking 3.2% while imports rose 6.9%. Meanwhile, household consumption (7.4%), government spending (3.4%), and gross fixed capital formation (3.2%) increased. For the first half of the year, the economy expanded by 0.7%. On a seasonally adjusted quarterly basis, the country's GDP grew 0.3% in Q2 of 2024, rebounding from a revised 0.4% contraction in the first quarter.