In the first quarter of this year, the Gross Domestic Product (GDP) amounted to 67.4 billion lei in current market prices, up by 1.9% in real terms compared to the first quarter of 2023 on a gross basis. On a seasonally adjusted basis, the GDP in the first quarter grew by 1.4 percent compared to the corresponding quarter of 2023 and by 2.5 percent compared to the fourth quarter of 2023, IPN reports, with reference to preliminary estimates of the National Bureau of Statistics, IPN reports.

In the first quarter, the total Gross Value Added (GVA) in the economy, with a share of 85.6% in GDP formation, increased in real terms by 3.4% compared to the first quarter of 2023, generating a GDP growth of 2.9%.

The positive impact on the evolution of the GDP in the first quarter of 2024 compared to the first quarter of 2023 was influenced by a number of activities. These are the production and supply of electricity and heat, gas, hot water and air conditioning (+1.2%), with a share of 3.3% in GDP formation and a 40.1% rise in GVA, the manufacturing industry (+1.1%), with a share of 8.8% in GDP formation and a 13% increase in GVA, and the ICT (+0.6%), with a share of 8.3% in GDP formation and a 8% increase.

Activities such as transport and storage had a negative impact on the evolution of the GDP (-1.2%), with a share of 4.5% in GDP formation and a 20.2% reduction in GVA. Real estate transactions (-0.3%) had a share of 8.4% in GDP formation and a 3.3% decrease in GVA. Health and social assistance (-0.2%) are also mentioned, with a share of 7% in GDP formation and a 3.1% reduction in GVA. Net taxes on products, with a share of 14.4% in GDP formation, influenced a 1% decline in the GDP, their volume decreasing by 6.2%.