Romania posted the highest increase in industrial production in the European Union (EU), in May 2014 compared to the previous month, of 2.6 percent. This comes as most countries in the EU saw negative developments in industrial production and the average for the EU 28 member states was a 1.1 percent decline, according to data from Eurostat.

Compared to May 2013, Romania’s industrial production increased by 15 percent, which was also the highest growth in the EU. The average growth in the EU was 1.1 percent.

Romania’s industrial production saw positive developments in the first five months, but also last year, when it had an annual increase of 7.8 percent compared to 2012, which again put it on first place. Local industry was buoyed by increased exports, with cars and auto components acting as main drivers for the growth.

Industry was the main contributing sector to Romania’s economic growth, which was 3.8 percent in the first quarter, the largest in the EU.

Andrei Chirileasa, andrei@romania-insider.com