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Final consumption, down 1.7% in H1, 2011 in Romania

Final consumption in Romania was down 0.7 percent in Q2, 2011and 1.7 percent in H1, 2011, with a negative impact on the increase in the Gross Domestic Product (GDP), according to data released on Tuesday by the National Statistics Institute (INS).

The estimated Q2 2011 GDP was RON 137.661 billion current prices, up 0.2 percent in real terms from Q 1 2011, according to data seasonally adjusted. In non-adjusted terms, the estimated Q2 2011 GDP was RON 126.994 billion current prices, up 1.4 percent in real terms from the same quarter of 2010.

The industries recorded the highest rise in business, of 4.9 percent, followed by agriculture, hunting, silviculture, fishery and aquaculture (3.4 percent). Slight rises in business were also record in trading, automobile and home appliances repairing; hotels and restaurants; transport and telecommunications (0.9 percent), financial, real estate, rentals and enterprise services (0.3 percent).

Drops in business were recorded by the construction industry (-1.9 percent) and other services business (-5.5 percent). As a result of the positive overall economic developments, the volume of product tax revenues collected increased, with net product taxes having advanced 3.1 percent.

Domestic demand was up 2.4 percent in the second quarter of 2011 compared with the same quarter of 2010. Total final consumption declined 0.7 percent as a result of both a decrease in household spending on final consumption and a decrease in the spending on the final consumption of public administrations, both of which were down 0.7 percent.

A negative impact on the GPD was generated by the developments in net exportation following a 7.7-percent increase in the imports of goods and services against a 6.3-percent increase in exports.

The estimated H1, 2011 GDP was RON 233.718 billion current prices, up 1.6 percent in real terms from H1, 2010.

The rise was mainly the result of an increase in business that generated higher gross added value in industries (7.3 percent); agriculture, hunting, silviculture, fishery and aquaculture (2.5 percent); trading, automobile and home appliances repairing; hotels and restaurants; transport and telecommunications (1 percent).

Total final consumption declined 1.7 percent in H1, 2011 from H1, 2010 as a result of a 5.2-percent drop in spending on final consumption of public administrations. The gross fixed capital formation declined by 1.7 percentage points.

Sursa: http://www.actmedia.eu

Tags: percent consumption final business

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