The Gross Domestic Product (GDP) in the third quarter of 2023 grew by 2.6% in gross terms and by 3.4% by the seasonally adjusted time series against the third quarter of 2022, IPN reports, with reference to the National Bureau of Statistics.

The total gross value added in the economy, with a contribution of 86.4% to the formation of the GDP, increased in real terms by 4.8% compared with the third quarter of  2022, generating a GDP grow of 4.1%.

The estimated GDP for January-September 2023 was 214.4 billion lei, 0.4% down in real terms compared to January-September 2022.

The activities in agriculture, forestry and fishing, health and social assistance, ICT and other sectors had a positive influence on the evolution of the GDP, while wholesale and retail trade, maintaining and repair of motor vehicles, the processing industry and other sectors influenced negatively the GDP in the period.

Net taxes on products, with a contribution of 13.9% to the formation of the GDP, caused the GDP to decline by 1.0%, with the volume of net taxes decreasing by 7.1%.

Net exports of goods and services also had a positive impact on the GDP, generating a 4.8% growth in the GDP as a result of the 2.4% rise in the volume of exports of goods and services correlated with a 5.5% decline in the volume of imports of goods and services.