Industry, consumption contribute the most to Romania's economic growth

Romania’s Gross Domestic Product (GDP) amounted to RON 596.7 billion (EUR 128.7 billion) between January and September this year, up 7% over the same period in 2016, according to the National Statistics Institute (INS). Industry and consumption contributed most to this growth. Industry had a share of 23.2% in the GDP structure. Its activity volume increased by 7.6% year-on-year. Wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, hotels and restaurants had a share of 18.2% in the GDP. Their activity volume rose by 8.7% year-on-year. Agriculture, forestry and fishing had a lower share in the GDP, namely 4.9%, but recorded a significant increase, 24.3% in the activity volume. Households’ consumption expenditure contributed 6.1% to the GDP growth during this period. The net exports had a negative contribution to the GDP growth, namely -0.6%. Romania’s economy accelerates by 8.8% in the third quarter editor@romania-insider.com