Romania’s economic growth in 2013, revised upwards to 3.5%

The National Institute of Statistics has revised upwards by 0.1 percentage points the economic growth in 2013 compared to the previous year, namely from 3.4% to 3.5%. The final GDP value was revised downwards, by 0.02%, or EUR 28.7 million, to EUR 146.5 billion in 2013. The IT&C sector’s contribution to the GDP growth was revised upwards from 0.4 percentage points to 1 percentage point (pp). The financial and insurance activities had a contribution of 0.7 pp in the GDP, compared to 0.2 pp, as previously estimated. The support and administrative services, together with the scientific and technical activities increased their contribution from 0.7 pp to 1.4 pp. Agriculture and industry also slightly increase their share in the GDP growth, to 1.6 pp, and 1.0 pp. On the other hand, commerce, transport and tourism had a negative contribution to the GDP growth of -2.1 pp, down from -1.1 pp previously reported. On the expenses side, the household expenditure contributed 1.6 pp to the GDP growth compared to 0.7 pp, as previously estimated. editor@romania-insider.com