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Romania's Gross Domestic Product in the first three months of the year was, in real terms, higher by 2.8%, compared to the fourth quarter of 2020, and compared to the same quarter of 2020 it recorded a decrease of 0.2% in the gross series and did not record any changes in the seasonally adjusted series, according to provisional data (1) of the National Institute of Statistics (INS), published on Tuesday.
Gross Domestic Product, seasonally adjusted data, estimated for the first quarter of 2021, was 284.971 billion lei current prices, increasing - in real terms - by 2.8% compared to the fourth quarter of 2020 and at the same level as in the fourth quarter I 2020.
In the gross series, the estimated Gross Domestic Product for the first quarter of 2021 was 223.479 billion lei current prices, decreasing - in real terms - by 0.2% compared to the first quarter of 2020.
"The following branches contributed to the decrease in GDP in the first quarter of 2021 compared to the first quarter of 2020: real estate transactions (-0.1%), with a share of 8.2% in the formation of GDP and which registered a decrease in the volume of activity by 1.3%, professional, scientific and technical activities, administrative service activities and support service activities (-0.7%), with a share of 6.6% in GDP formation and which registered a decrease in volume activity by 9.7%, entertainment, cultural and recreational activities, repairs of household products and other services (-0.5%), with a share of 2.8% in GDP formation and which decreased of the activity volume by 16.4%; net taxes on product (-0.2%), with a share of 9.7% in the formation of GDP and which registered a reduction of their volume by 1.9%," the INS mentions.
According to the INS, positive contributions were registered by: industry (+ 0.4%), with a share of 18.8% in the formation of GDP and which registered an increase in the volume of activity by 2.2%; wholesale and retail trade; repair of motor vehicles and motorcycles; transport and storage; hotels and restaurants (+ 0.1%), with a share of 20.3% in GDP formation and which registered an increase in the volume of activity by 0.4%; information and communications (+ 0.8%), with a share of 8.0% in the formation of GDP and which registered an increase in the volume of activity by 10.6%.
From the point of view of the use of GDP, the decrease of the contribution was mainly caused by the net export (-2.6%), consequence of the increase of the volume of imports of goods and services, by 5.4%, compared to the volume of exports of goods and services, of only 0.6%. Important positive contributions had: the expenditure for the final consumption of the households, whose volume increased by 0.8%, contributing by 0.5% to the GDP growth; gross fixed capital formation, whose volume increased by 9.9%, contributing by 1.7% to GDP growth.
Romania was, in the first quarter of this year, the most dynamic economy in the European Union, with an advance of Gross Domestic Product of 2.8% compared to the last quarter of last year, followed by Cyprus (2%), Hungary (1.9%) and Lithuania (1.8%), show preliminary data released by Eurostat on Tuesday.
The experts of the International Monetary Fund estimate, for 2021, a strong economic recovery in Romania, with an advance of the real Gross Domestic Product of 7 percent, specifying, however, that the main risk of not realizing this forecast is that of unexpected negative changes in the pandemic, show the conclusions published following the mission to evaluate the Romanian economy.
AGERPRES .
