The GDP of Romania

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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.


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

Romania entering Recession due to the financial Crisis?

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Not one year ago, growth prospects for the GDP in Romania were rather optimistic, several forecast institutions predicted GDP growth to be much above the EU-Average for 2009 and even onwards. With some delay, after the breakout of the fincial crisis GDP growth estimations for Romania were gradually downsized.

Update Note: a Resume of 2009 and data for the economy of Romania in 2010 is available here.

Category : 2009 | Crisis Romania | Economy of Romania | News | Blog