Romania’s Economy Grows 13% in 2nd QuarterReading Time: < 1 minutes
Romania’s economy continued its robust post-pandemic recovery in the second quarter after already returning to pre-pandemic levels in the first quarter. The country’s gross domestic product (GDP) went up by 1.8% in the second quarter of this year compared to the previous quarter, marking the fourth consecutive quarter of growth after the lockdown-induced contraction in Q2 2020.
Compared to the second quarter of last year, Romania’s GDP grew by 13% in nominal terms and 13.6% in seasonally adjusted terms, according to flash data released by the National Statistics Institute (INS) on 17 August. In Q2 2020, Romania’s economy contracted by 10% (9.4% in seasonally adjusted terms) compared to the same period of 2019.
Considering the strong growth in Q2 2021, the GDP not only recovered the loss from Q2 2020 but was also higher than the level recorded in Q2 2019. For the first half of 2020, Romania recorded a GDP growth of 6.5% compared to the same period of last year.