Romania’s gross domestic product (GDP) increased by 2.9% in 2014, compared to 2013, according to flash estimates released by the National Statistics Institute (INS).

In the fourth quarter of 2014, Romania’s GDP grew by 2.6% compared to the same period of 2013, in gross terms. The increase was 2.5%, in seasonally adjusted terms.

Romania’s economy also grew by 0.5% in the fourth quarter, compared to the third quarter, the INS announced on Friday, February 13. The statistics institute also revised its estimates of the GDP growth in the third quarter of 2014 compared to the second quarter upwards, from 1.8% to 2.2%.

Romania’s GDP was EUR 144.3 billion (RON 637.6 billion), in 2013, having a 3.4% increase compared to 2012. Based on INS estimates, the GDP went up to EUR 147.6 billion (RON 656 billion), in 2014.

editor@romania-insider.com