Romania registers economic growth of 2.4pct in Q1 of 2020

The Gross Domestic Product (GDP) increased in the first quarter of 2020 by 2.4%, as gross series compared to the similar period of last year, and compared to the previous quarter the increase is of 0.3%, according to the flash estimates published by the National Institute of Statistics (INS) on Friday.

As series seasonally adjusted, the GDP recorded a growth of 2.7% in the first three months of the year against the similar period of 2019.

"The seasonally adjusted series of quarterly Gross Domestic Product was readjusted as a result of the introduction of the estimates for Q1 2020, differences being recorded as compared to the version published in the Press release no. 91 of April 7, 2020. The Gross domestic product flash estimates, as well as the provisional ones, are affected by the difficulties posed by the pandemic crisis and by the establishment of the State of emergency. These difficulties are connected to the collection of basic data representing entries for national accounts and have materialized by an increase of the non-response rate. To complete the information alternative data sources had been used in order to affect as less as possible the quality of the produced indicators. According to current practice, the data published today will be revised, according to the Press Release Calendar and the national accounts revision policy published on INS web-site, when new data sources become available," the INS mentions.