Romania's GDP grew by 0.2 percent in 2012

The National Institute of Statistics confirmed Thursday the GDP growth of 0.2 percent in the first nine months of the year compared to the same period last year - as announced in November.

Romania's GDP estimated for the first three quarters of 2012 was 416.268 billion lei current prices.

According to the National Institute of Statistics, GDP growth in the first nine months of the year is due to increases in professional activities, scientific and technical and administrative services of the real estate.

Increases from information and communications industry, recreation and entertainment, repairs, trade, transport, hotel and restaurant and construction also contributed.

The most significant workload reductions were recorded in agriculture, public administration and defense, social security insurance, education, health and social care.
Total final consumption slightly decreased in the assessed period, mainly due to falls in final consumption expenditure of general government.

GDP was negatively affected also because we imported more than we export.
The National Institute of Statistics expects that Romanian’s economy to close this year at the same level compared to 2011 or to slightly decrease.

Translated by Alexandra-Diana Mircea
MTTLC, Bucharest University