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23
January

The GDP of Romania (per Capita) is among the lowest of the EU, second only to Bulgaria. During the nineties Romania experienced two sharp recessions and recovered only after 2000. Since then, Romania recorded high GDP growth rates until 2008 showing the typical patterns of a catching up economy.

After being hit by the financial crisis in early 2009 (the crisis arrived with some delay in Romania, yet the harder) Romania’s GDP dropped back below the level of 2007 and there are no signs for a quick recovery. An estimate by the CNP expects the GDP of Romania to reach the former level of 2008 between 2011 and 2012, which is pretty much in line with current GDP forecasts from Eurostat.



Main contributors to GDP growth in Romania have been exports and internal demand, broadly financed by external debt. FDI contributed further and altered the GDP structure and composition. All three factors turned negative during 2009 and lead to a negative growth rate of the Romanian GDP by some 7.7%. Forecasts expect for 2010 a growth between 0.5% (CNP, IMF) and 1.9% (ING Bank).

The GDP structure of Romania has been characterized by a large share of the agricultural sector, a somewhat larger share of the industrial sector and a booming construction sector. The services sector has been fast growing, yet did not reach to the full extent the GDP shared of a western economy. During 2009 the construction sector was the first to freeze, while the others recorded severe drops, also. Read more on the structure of the Romanian GDP.

Charts and Tables: The GDP of Romania

The charts and tables below give not only the raw data for Romania, but introduce for comparison and reference purposes data for the EU 15, EU 27 and the Netherlands. The latter have been chosen as they are the own EU-country having comparable country size (when it comes to the number of inhabitants) and thus can serve as a benchmark for a healthy and modern economy of this size.

Charts: The GDP of Romania

Table: Romania – GDP at Market Prices Mio EUR

GDP/Year

2006

2007

2008

2009*

2010*

2011*

EU 27

11683833.1

12362878.9

12506778.5

12168498.3

12408823.9

12811078.9

EU 15

10936532.6

11493553.6

11520587.0

11190869.5

11405311.6

11754712.3

Nether
lands

540216.0

568664.0

595883.0

574825.7

581764.7

599200.7

Romania

97751.0

124728.5

139752.9

119733.5

127033.8

136842.5

Source: Eurostat, an * denotes estimates

Table: Romania – GDP per Capita, Market Prices


GDP/Year

2006

2007

2008

2009*

2010*

2011*

EU 27

23600

24900

25100

24300

24700

25400

EU 15

24900

26100

26300

25400

25900

26600

Netherlands

33100

34700

36200

34800

35100

36100

Romania

4500

5800

6500

5600

5900

6400

Source: Eurostat, an * denotes estimates

Table: Romania – GDP per capita at PPS (Purchasing Power Parity)

GDP/Year

2006

2007

2008

2009*

2010*

2011*

EU 27

23600

24900

25100

24300

24700

25400

EU 15

26600

27800

27800

:

:

:

Netherlands

31000

32900

33600

31500

31900

32800

Romania

9100

10400

12000

11000

11200

11700

Source: Eurostat, an * denotes estimates

Table: Romania – GDP as percentage of EU 27 GDP

GDP/Year

2006

2007

2008

2009*

2010*

2011*

EU 27

100

100

100

100

100

100

EU 15

118

117

116

116

116

115

Netherlands

140

139

145

143

142

142

Romania

19

23

26*

23

24

25

Source: Eurostat, an * denotes estimates

Category : Economic Forecast / Economic Outlook / economy / Economy of Romania / GDP Romania / Growth / News

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