The Romanian economy grew by 4.8 percent last year compared to 2021, according to data published by the National Statistics Institute.

In the fourth quarter of 2022, compared to the third quarter of last year, the gross domestic product grew by 1.1 percent.

Compared to the same quarter of 2021, GDP registered a growth of 5.0 percent.

On a gross basis, compared to the same quarter of 2021, the gross domestic product in the fourth quarter of 2022 registered a growth of 4.6 percent.

In 2022, compared to 2021, GDP increased by 4.8 percent.

Data from the National Institute of Statistics also show that annual inflation in Romania eased to 15.1 percent in January 2023, down from 16.4 percent in December 2022. 

Romania is slowly catching up with its richer neighbors

Food products have increased in price by 22.47 percent, non-food products - by 11.88 percent, and services - by 10.27 percent. 

Consumer prices in January this year compared to December last year increased by 0.3 percent.

The reason is the increase in the prices of food products by 1.5 percent and services by 1.82 percent, NSI notes. 

Romania

economy