GDP up by 4.3 pc in Q1. Average income RON 2,500

The Gross Domestic Product (GDP) in the first quarter was estimated to nearly RON 139.27 billion current prices, in real terms, gross series, up by 4.3% as compared to the same period last year, supported by trade developments, car repairs, transport, hotels, restaurants and industry.

According to seasonally adjusted data, the GDP amounted to RON 174.85 billion in current prices, up by 1.6% as compared to Q4 of last year, in real terms, and by 4.2% against Q1 last year, according to the National Institute of Statistics (INS).

Wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, hotels and restaurants contributed 1% to the growth in the first quarter, this sector having a share of 17.8% to the GDP, and its volume of activity increased by 5.8%.

At the same time, the industry, with a share of 21.1% (volume activity increased by 4.2%), had a 0.9% contribution to the GDP growth, as well as information and communications, with a share of 7%, but with an advance of volume of activity of 13.2%.

The budget for this year was based taking into account a 2.5% GDP growth. The latest estimate of the National Prognosis Commission, issued in May, consider an advance of 3.3%.

Total average monthly income of a household in Romania stood in 2014 to RON 2,500.7, while expenditures amounted on average to RON 2,269.3, mostly used to pay utilities and housing maintenance, according to data released by INS on Friday.

The INS data also reveals that wages and other related income represented the most important source of revenue, with the largest share in total household income of 51.1%.

expendituresfirst quarterGDPincomesINSstatistics
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