GDP higher by 5pc in Q1 2019 as against the same quarter last year

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As against the same quarter of 2018, the Gross Domestic Product recorded an increase by 5.0% for the unadjusted series and by 5.1% for the seasonally adjusted series, according to the National Institute of Statistics (INS).

The seasonally adjusted series of quarterly Gross Domestic Product was readjusted as a result of the revision of the estimates for Q1 2019.

The GDP – seasonally adjusted data – estimated for Q1 2019 amounted to 253628.1 million lei current prices, increasing – in real terms – by 1.3% against Q4 2018 and increasing by 5.1% against Q1 2018.

The Gross Domestic Product estimated for Q1 2019 amounted to 202848.4 million lei current prices, increasing – in real terms – by 5.0% as against Q1 2018.

Almost all industries contributed to the GDP increase in Q1 2019 as against Q1 2018. Significant positive contributions had the following industries:

  • Wholesale and retail; motor-vehicles and motorcycles repair; transport and storage; hotels and restaurants (+1.3%), with a share of 20.0% in GDP, whose activity volume increased by 6.7%;
  •  Information and communication (+0.6%), with a share in GDP of 5.9%, which recorded an increase in activity volume by 10.8%;
  •  Professional, scientific and technical activities; activities of administrative services and support services (+0.6%), with a share in GDP of 6.5%, which recorded an increase in activity volume by 9.5%.

From GDP uses standpoint, the increase was mainly due to the final consumption expenditure of households, whose volume increased by 6.7% contributing by 4.3 to the GDP growth rate, to the
gross fixed capital formation, whose volume increased by 5.4% contributing by 0.9 to the GDP growth rate, but also due to the final consumption expenditure of general government, whose volume increased by 3.8% contributing by 0.7 to the GDP growth rate.

The net export recorded a negative contribution to the GDP growth rate (-3.3%) being influenced by the higher increase of imports of goods and services volume, in correlation with the increase of the volume of exports of goods and service.

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