The emerging markets in CE, SE and Eastern Europe include Romania, Poland, Hungary, Turkey, Serbia.

The emerging markets in CE, SE and Eastern Europe include Romania, Poland, Hungary, Turkey, Serbia.
The emerging markets in CE, SE and Eastern Europe include Romania, Poland, Hungary, Turkey, Serbia, Lithuania.

Tuesday, 20 October 2015

Romanian GDP grows 3.7%, FDI 39%, ITC sector 13.8% and consumption 5.2% in H1 2015

The National Institute of Statistics (NIS) has published provisional data on the evolution of the Romanian economy in the second quarter and first half of 2015 as follows:
  • GDP increase by 0.1% in Q2 2015 compared to Q1 2015 (seasonally adjusted series)
  • GDP increase in Q2 2015 compared to Q2 2014 by 3.3% (unadjusted series) and by 3.7% (seasonally adjusted series)
  • GDP increase in H1 2015 compared to H1 2014 by 3.7% (unadjusted series) and by 3.8% (seasonally adjusted series)

The increase reported for Q2 2015 ranks Romania 3rd in the EU-28, taking into account the GDP evolution compared to Q2 2014, with 3.7%, after Malta (+ 4.8%) and the Czech Republic (+ 4.4%), but ahead of Poland (+3.6%), Spain (+3.1%), Slovakia (+3.1%), the EU-28 average being +1.9%.

The domestic economy has increased by 3.7% in H1 2015 compared to H1 2014, the growth of the domestic demand (contribution of 5.2%) counterbalancing the negative contribution of the net external demand (1.5%). The private consumption (the main GDP component) has increased by 5.4% in H1 2015 vs H1 2014 (contribution of 3.5% to GDP dynamics), supported by the VAT reduction for food, the rising wages and the lending revival in RON.

According to NIS, the following sectors have contributed to GDP growth in H1 2015 compared to H1 2014:
  • wholesale and retail (+1.0%), with a contribution of 17.7% to the nominal GDP value and by 5.6% in the activity volume increase
  • information and communication (+0.9%), with a contribution of 7.2% to the nominal GDP value and by 13.8% in the activity volume increase
  • industry (+0.5%), with a contribution of 22% to the nominal GDP value
  • net taxes on products (+0.5%), with a contribution of 13.6% in the nominal GDP value. 
In terms of the GDP use, the increase has been influenced by:
  •         final consumption expenditure of households (+5.4%), with a contribution of 3.5% in the GDP growth
  •         gross fixed capital formation, with a contribution of +1.5% as a result of the activity volume increase by 8.1%

The net export has had a negative contribution (-1.5%), due to the increase of exports of goods and services by 6.3% correlated with increase of imports of goods and services by 9.6%.

The Romanian imports in H1 2015 have recorded 30.3 billion EUR and a growth of 6.9% compared to H1 2014, mainly due to the increase of imports from EU countries by 8.4%, while imports from non-member EU states have registered an increase of 2.1%. The share of EU member states in the Romanian imports is higher with 76.9% (+1.1% compared to H1 2014).

Romania’s main ten trading partners in the first five months of 2015, taking into account the trade volume (exports and imports) are: Germany (19.66% of Romania's foreign trade), Italy (11.18%) Hungary (6.56%), France (6.34%), Turkey (3.87%), Poland (3.83%), UK (3.27%), Austria (3.13%) the Netherlands (3.10%) and Bulgaria (3.08%).

In H1 2015 compared to H1 2014, the following dynamics have been recorded:

  • construction (+3.6%)
  • trade / transport / HoReCa (+5.6%)
  • IT&C (+13.8%)
  • agriculture (+2.2%)
  • industry (+2.2%)
For tailor-made market research and opportunity analysis, acqusition target search, as well as B2B matchmaking with players in Romania and the emerging markets in Europe, feel free to contact FRD Center team at: 
email: europa@frdcenter.ro or tel: +4021 411 1459/ 60/ 61

FRD Center provides market research in Eastern Europe and the region, B2B matchmaking in the CE Europe and SEE, M&A assistance in Romania, in CEE and SEE

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