Agriculture, Construction Boost Romania's 9-mo GDP Growth

Romania's GDP, computed in current prices, reached an estimated 335.2 billion lei ($114 billion/84.76 billion euro) in the first three quarters of 2008, up by a real 8.9% from the same period last year. INS released the GDP figure earlier in December and presented a breakdown by sectors at a news conference on Monday.

The agriculture industry grew 23.4% on the year in the first three quarters, while the construction sector posted an annual growth of 31.1% through September.

The industrial sector expanded 4.8% on the year over the period. Services grew by an annual 5.6%, while net taxes on products increased by 8.5%.

In the third quarter of this year the Romanian economy grew by a real 9.1% on the year.

Romania's economy expanded by a real 5.8% in the first nine months of 2007, and by 5.7% in the third quarter of last year.

Romania's GDP rose by 6.0% last year, slower than the 7.9% recorded in 2006, due to the severe drought that hit the country in the summer. The National Prognoses Commission forecasts economic growth of real 9.1% in 2008.

Romania joined the European Union in January last year.

(1 euro = 3.9545 Romanian lei)