Romania’s economy up by 5.1% in the first quarter of the year

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Romania’s economy increased by 5.1% in the first quarter of the year, compared to the fourth quarter of 2021. As against the same quarter of 2021, the Gross Domestic Product increased by 6.4% on both the gross series and the seasonally adjusted series, according to the provisional data published on Friday by the National Institute of Statistics.

The estimated Gross Domestic Product for the first quarter of 2022 was 343.67 billion lei, increasing – in real terms – by 5.1% compared to the fourth quarter of 2021 and by 6.4% compared to the first quarter of 2021.

On the gross series, the estimated Gross Domestic Product for the first quarter of 2022 was 273.829 billion lei current prices, increasing – in real terms – by 6.4% compared to the first quarter of 2021.

According to the data published by INS, the largest contribution to the Gross Domestic Product has Industry (21.7%) and Wholesale and Retail Trade; repair of motor vehicles and motorcycles; transport and storage; hotels and restaurants (20.8%). Net taxes on products increased by 4.3 percentage points.

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