Romania posted a strong GDP growth of a real 5% y/y in the first quarter of 2019 in both unadjusted and seasonally adjusted terms, the National Statistics Institute (INS) confirmed the previous estimates on July 8.
This is the highest annual growth rate in the past five quarters, defying projections of a slowdown in Romania's growth rate. The European Commission projects a GDP growth of 3.3% for the whole of 2019 and 3.1% in 2020.
All major sectors, except industry, provided a positive contribution to GDP growth in the first quarter.
In the previous quarter, Romania posted a GDP growth of 4.1% y/y in unadjusted terms and 4% y/y seasonally adjusted.
The GDP estimated for the first quarter amounted to RON200.4bn (€42.5bn) at current prices, the INS said. In annual terms the biggest contribution was provided by wholesale and retail sector
In real terms, Romania’s GDP grew by 1.3% compared with the previous quarter.
Romania posted a GDP growth of 4.1% in 2018.