Romania registered last year a growth of 3.7% as compared to 2014, above the European Commission’s estimates last autumn of 3.5%.
According to estimates released on Friday by the National Statistics Institute (INS), Romania’s GDP grew by 3.7% in 2015, as gross series against the previous year.
As compared to Q3 2015, the GDP in Q4 2015 increased in real terms by 1.1%. Against the same quarter of 2014, the GDP grew by 3.7% as gross series and by 3.8% as seasonally adjusted series.
“Following a review of the quarterly GDP gross series for 2012-2014 (…) the results of the first quarter 2015 against the fourth quarter 2014 were revised from 101.4% to 101.3%; the results of Q2 2015 against Q1 2015 were revised from 100.0% to 99.8%; the results of Q3 2015 against Q2 2015 were revised from 101.4% to 101.5%,” INS informs.
The turnover in wholesale trade, except for trade of motor vehicles and motorcycles, last year marked an increase of 4.1% as gross series, thanks to the advance of 17.4% for trade of IT and telecommunications equipment and of 13, 5% for the non-specialised trade, INS data show.
The volume of construction works has increased by 10.4% last year, as gross series, due to higher volumes by 20% of engineering buildings and by 1.1% of non-residential buildings, while the volume of residential constructions fell by 5.8%.
Industrial production up by 2.7 pc
Industrial production, as gross series, grew by 2.7% last year, especially following the increase of production by 3.5%, in the processing industry.
The production and supply of electricity, gas, steam and air conditioning supply grew by 1.3%. the mining and quarrying industry fell by 12.5%.
The second largest economic growth in the EU, Eurostat data reveal
INS data are similar to the flash estimates released on Friday by Eurostat.
Thus, according to the statistical office of the European Union, Romania registered a GDP growth of 3.8 percent in the fourth quarter of 2015 compared to the same period in 2014, a higher advance among the 28 European Union member states only was recorded by Poland – 4 percent.
At the same time, compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.5 percent in the euro area and by 1.8 percent in the EU28 in the fourth quarter of 2015, after +1.6 percent and +1.9 percent respectively in the previous quarter.
Compared with the third quarter Romania’s GDP recorded in the last three months of last year an increase of 1.1 percent, tied with Poland, which is still the second largest quarterly growth in the EU, after the advance of 1.2 percent obtained by Estonia.