Eurostat: Romania’s GDP decreases by 1.2 percent in second quarter

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Romania’s gross domestic product (GDP) decreased by 1.2 percent in the second quarter of last year as against the previous quarter and by 8.8 percent as against the same time span of 2008, according to the data published by the European Statistical Office (Eurostat) on Thursday.

The gross domestic product of the euro zone (EA15) contracted by 0.1 percent and the GDP of the European Union (EU27) declined by 0.3 percent in the second quarter of the year as against the previous quarter after a 2.5 decrease in the euro zone and a 2.4 percent one in the European Union, which was registered in the first quarter of the year.

On an annual basis, the second quarter of 2009 as against the similar period in 2008, the euro zone saw a 4.6 percent decline of GDP and in the EU the gross domestic product went down by 4.8 percent after a decrease of 4.9 percent in the euro zone and of 4.7 percent in the European Union in the first quarter of this year.

According to the data that are available, in the second quarter of the year, as against the previous quarter, Slovakia registered the fastest pace of the economic growth in the EU (2.2 percent), followed by Germany, Greece, France and Portugal (0.3 percent).

At the opposite end there is Lithuania, with a decline of 12.3 percent, Estonia, minus 3.7 percent, Hungary, 2.1 percent decrease, and Latvia, 1.6 percent decline.

Romania is the fifth in this series, with a decrease amounting to 1.2 percent in the second quarter of the year.
On an annual basis, as against the same period of the previous year, Romania’s GDP decreased by 8.8 percent, the fourth, after Lithuania, minus 22.6 percent, Latvia, minus 18.2 percent, and Estonia, minus 16.6 percent.

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