Romania experienced a slight improvement in economic growth during the third quarter, with recent data from the national statistical office revealing a marginally higher performance than initially estimated. Separate official statistics indicated an expanding foreign trade deficit in November, attributed to a more rapid growth in imports compared to exports.
On an unadjusted basis, Romania's GDP grew by 1.2 percent year-over-year in the September quarter, an improvement from a 0.9 percent increase in the prior three months. This revised estimate is slightly higher than the previously reported 1.1 percent growth.
Breaking down the expenditure, household consumption rose by 3.3 percent, while government consumption slightly declined by 0.1 percent. Investment in gross fixed capital formation saw a modest rise of 0.2 percent from the previous year. Net foreign demand decreased by 1.8 percent, influenced by a drop in exports as imports rose.
Conversely, the seasonally adjusted GDP fell by 0.1 percent, contrasting with the 0.8 percent growth observed in the previous quarter. The initial flash estimate had indicated a 0.3 percent decrease. In comparison to the second quarter, seasonally adjusted GDP remained flat, a revision from the earlier reported 0.1 percent decline following a 0.1 percent rise in the second quarter.
The foreign trade deficit of Romania expanded to €2.84 billion in November from €2.32 billion in the same month the preceding year. Exports increased by 1.6 percent year-on-year, while imports accelerated at a notably faster rate of 6.2 percent.
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