NIS estimates: Romania's economy grew 0.9% in 2024 compared to 2023

Business Forum

14 February, 2025 at 9:36 AM

Romania's economy grew by 0.9% last year, and in the last quarter of 2024 the Gross Domestic Product (GDP) rose by 0.7% compared to the same quarter of 2023 and by 0.8% compared to the previous quarter, according to signal data released by the National Institute of Statistics (NSI).

On a seasonally adjusted basis, Gross Domestic Product increased by 0.8% in the fourth quarter of 2024 compared with the previous quarter. Compared to the same quarter of 2023, Gross Domestic Product increased by 0.7%.

On a gross basis, compared with the same quarter in 2023, GDP in the fourth quarter of 2024 increased by 0.7%. In 2024, compared to 2023, Gross Domestic Product increased by 0.9%.

'Following the revision of the gross series of quarterly GDP by including the estimate of Gross Domestic Product for Q4 2024 in the quarterly series, the seasonally adjusted series has been recalculated, with the volume indices revised from the second provisional version of Gross Domestic Product for Q3 2024, published in the press release no. 7 of January 10, 2025, as follows: the results for Q1 2024 compared to Q4 2023 have been revised from 99.6% to 99.7% ; the results for Q3 2024 compared to Q2 2024 have been revised from 100.0% to 100.1%. The seasonally adjusted series are recalculated quarterly in line with European practice', shows the NSI.

Romanian economy shows signs of recovery in Q3

Romania's economy delivered a mild upside surprise in the third quarter, with flash estimates pointing to 1.6% annual growth, above expectations. However, the economy still contracted by 0.2% versus the previous quarter. After nine months of 2025, the economy is 0.8% above the same period of 2024, according to a report by ING Bank Romania.

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