May 16 (SeeNews) - Romania's gross domestic product (GDP) rose 2.3% year-on-year in the first quarter of 2023, compared to a 6.5% annual increase in the like quarter of 2022, the statistical board said on Tuesday, citing non-adjusted flash data.
On a seasonally adjusted annual comparison basis, Romania's GDP rose by 2.8%, compared to a 6.5% real growth in the first quarter of 2022, the statistical board, INS, said in a statement.
As against the previous quarter, Romania's GDP grew by 0.1% in the three months through March, following a 1% increase in the fourth quarter of 2022.
INS said it has revised the data for the first quarter of 2022 to 1.6% quarterly growth, up from previously estimated 1.3%, and the data for the second quarter of 2022 to 0.7% quarterly growth, down from 1.2%.
GDP data for the third quarter of 2022, as compared to the previous quarter, has been revised to 1% growth from a previously estimated 1.2% growth.
In 2022, Romania's economic output increased by 4.7%, after growing 5.8% in the previous year.
Romania's economic output will rise by an estimated 2.8% in 2023, finance ministry analysts said in April, maintaining their previous forecast.
On Monday, the European Commission said it expects Romania's economy to expand by 3.2% in 2023.