Statistics: Industry, agriculture, communications have greatest contribution to GDP growth

The industry, agriculture and communications have made the greatest contribution to the growth of the gross domestic product (GDP) both in the third quarter and in nine months, the National Institute for Statistics president Tudorel Andrei said, quoted by Agerpres.

2014-12-04 12:18:49

"The first characteristic of the economy in the first quarter relates the industry, accounting for more than 30 percent of GDP. The very good thing is that it has maintained in the last quarters as well. The industry, both in the third quarter and in the nine months has the greatest contribution to the GDP growth, namely nearly half the GDP over this period. Likewise agriculture, after having had a negative contribution in the last half-year, has a positive contribution of 0.2 percent at this moment," Andrei explained.

According to the Institute chief, the real estate transaction sector maintained its activity, while the information technology and communications contributed 25 percent of GDP.

"The information and communications sector holds 5 percent of GDP, but it has a significant contribution to the growth recorded in this period, namely 25 percent. There are two sectors having had a negative influence on the GDP dynamic, both at the level of the quarter-year and in the nine months:construction and financial brokerage... In nine months, export dropped by 8.9 percent as compared to the same period and the imports dropped by 7.8 percent. In this sense, the deficit has narrowed," he underscored.

The Romanian authorities expect the national economy to grow 2.8 percent this year, even though the GDP increase anticipated when drafting the 2014 budget is of 2.2 percent. The Romanian economy expanded 3.5 percent in 2013, one of the highest growth rates in Europe.