Romania's economy advances 4.1pct in 2022 compared to 2021
The Gross Domestic Product (GDP) estimated for 2022 - semi-final data - was 1,401.345 billion lei at current prices, up, in real terms, 4.1% compared to 2021, the National Institute of Statistics (INS) announced on Thursday.
Compared to the provisional version, in the semi-final version, the estimated nominal Gross Domestic Product for 2022 dropped 0.6%.
"In the year 2022, more important changes in the contribution to GDP growth between the two estimates were registered in: agriculture, forestry and fishing, from -0.5% to -1.1%, due to the change in the volume of activity accounting for -11.8 percentage points (from 88.4% to 76.6%); industry, from -0.5% to -0.9%, due to a change in the volume of activity of -2.3 percentage points (from 97.7% to 95.4%); construction, from +0.7% to +0.2%, due to a change in the volume of activity of -8.7 percentage points (from 111.2% to 102.5%); wholesale and retail trade; repair of motor vehicles and motorcycles; transport and storage; hotels and restaurants, from +1.2% to +1.5%, due to a change in the volume of activity of +0.4 percentage points (from 106.7% to 107.1%); information and communication, from +1.3% to +1.6%, due to a change in the volume of activity of +2.7 percentage points (from 120.0% to 122.7%)," the release said.
Other important changes in the contribution to GDP growth were witnessed in the following area: financial intermediation and insurance, from +0.0% to -0.5%, due to the change in the volume of activity standing at -18 percentage points (from 100.8% to 82.8%); real estate transactions, from +0.7% to +0.9%, due to the change in the volume of activity amounting to +3.2 percentage points (from 108.4% to 111.6%); professional, scientific and technical activities; administrative and support service activities, from +0.9% to +1.3%, due to a change in the volume of activity of +4.6 percentage points (from 113.1% to 117.4%); public administration and defence; public social security; education; health and social work remained unchanged (+0.2%), with the change in the volume of activity decreasing -0.6 percentage points (from 101.7% to 101.1%); entertainment, cultural and recreation activities; repair of household goods and other services, from +0.2% to +0.4%, due to a change in the volume of activity accounting for +9.6 percentage points (from 107.5% to 117.1%).
By category of use, in 2022, the most important changes in the contribution to GDP growth, between the two estimates, are: household final consumption expenditure, from +3.3% to +3.5%, due to the change in its volume of +0. 3 percentage points (from 105.5% to 105.8%); individual final consumption expenditure of the general government, from +0.3% to +0.0%, due to its volume change by -3.9 percentage points (from 103.6% to 99.7%); actual collective final consumption of the general government, from +0.5% to -0.6%, due to a change in its volume of -10.5 percentage points (from 104.8% to 94.3%); gross fixed capital formation, from +1.9% to +1.4%, due to a change in its volume of -2.1 percentage points (from 108.0% to 105.9%).