Romania Economy Grew As Expected In 1H

10.07.2013 By Florentina Dragu

Romania’s gross domestic product grew 1.8% in the first half of 2013 compared with the year-earlier period, in line with previous estimations, official data showed Monday.

In the second quarter compared with the year-earlier period, the economy expanded 1.5%, also unchanged from a report released last month, the country’s statistics institute INS said.

Compared with the first quarter, the gross domestic product increased 0.5% in the April-June period.

Final consumption contributed 0.1% to the first-half economic growth, up from a zero contribution previously estimated, INS data showed.

Gross capital formation declined 0.9% on the year in the January-June period, a slightly slower pace compared with a 1% decrease reported last month.

Net exports contributed 5.4% to the first half GDP, up from a 5.3% contribution initially estimated.

Romania forecasts an economic growth of 2% in 2013, largely supported by agriculture and exports.