» Gross Domestic Product in 2017, 7% higher than in 2016 -'flash' estimates
11:11 AM <14px style="font-size: 14pt;">Gross Domestic Product in 2017, 7% higher than in 2016 -'flash' estimates14px>
By Edwig Ban
The National Institute of Statistics (INS) reports that Romania's GDP grew last year by 7% over the previous year. It is the highest economic growth in the last 10 years and the highest compared to all the states of the European Union.
INS shows that Gross Domestic Product in Q4 2017 was, in real terms, by 0.6% higher, as compared to Q3 2017; as against the same quarter of 2016, Gross Domestic Product recorded an increase of 6.9% for unadjusted series and 7.0% for seasonally adjusted series.
In 2015, Romania recorded GDP growth of 4.3%, in 2016 by 5.0%.
The main factors of the economic growth were: the industry, whose turnover in 2017 was almost 8% higher than in 2016, trade services with over 7% and the communications and IT industry by over 4%. The construction sector registered a 20% drop in 2017 compared to 2016.
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