Romania GDP Annual Growth Rate

Last Release

Sep 30, 2024

Actual

1.1

Units In

0.8

Frequency

Quarterly

Next Release

Apr 10, 2025

Time to Release

2 Months 27 Days 5 Hours

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 expanded by 1.2% year-on-year in the third quarter of 2024, faster than the second estimate of 1.1% and accelerating from a 0.9% rise in the previous three-month period. This marked the fourteenth consecutive quarter of economic expansion and the fastest pace since Q4 of 2023, driven by rises in household consumption (5.1%) and gross fixed capital formation (0.4%). However, government spending shrank by 0.8%. Net external demand also contributed negatively to the GDP, as exports dropped by 3.5% while imports rose by 1.3%. On the production side, output grew for professional, scientific & technical activities; (4.7%); hotels and restaurants (4.2%), and construction (1.4%). On a seasonally adjusted quarterly basis, the economy showed no growth in the September quarter, after a 0.1% expansion in the previous quarter.