April 7 (SeeNews) - Romania's economy expanded by 4.1% year-on-year in 2019, compared to a growth rate of 4.4% in the previous year, provisional data from the country's statistical board, INS, showed on Tuesday.
The data confirms earlier estimates. The full-year 2019 growth figure is almost in line with the government's estimate of 4% increase.
Final household consumption volume for 2019 has been revised to 6.0% from 6.2% in the earlier estimate, INS data showed.
Agricultural output fell by 3.2% last year, while gross fixed capital formation increased by 4%. Industrial output decreased by 1.5%, while construction output was up by 17.3%.
Imports of goods and services increased 8%, while exports grew 4.6% in 2019.
In the fourth quarter of 2019, Romania's economic growth accelerated to 4.3% year-on-year, from 3% in the third quarter, INS unadjusted data showed.
Based on seasonally adjusted figures, Romania's economy expanded by an annual 4.2% in the fourth quarter, compared to 3.2% in the third quarter.
On a quarterly comparison basis, Romania's gross domestic product (GDP) grew by 1.5% during September-December, seasonally adjusted data showed.
Details of Romania's 2019 GDP follow:
Romania 2019 GDP |
y/y pct change |
- Final consumption |
6.0 |
- Exports |
4.6 |
- Imports |
8.0 |
- Agriculture |
-3.2 |
- Industry |
-1.5 |
- Construction |
17.3 |
Total |
4.1 |
(1 euro = 4.8280 lei)