Romanian GDP down 6.2% in Q1 2009

Romania’s GDP dropped 6.2% in the first quarter year on year, according to data published by the National Statistics Institute on Tuesday. The Institute had expected a 6.4% contraction, according to Romanian news agency NewsIn.

According to reviewed data, the GDP stood at 128.73 billion lei in Q1 this year, down 4.6% in real terms as compared to the last quarter of 2008.

Important drops in activity were reported in agriculture, forestry and fishing (-10.9%), industry (-11.1%), trade, car and home appliance maintenance, hotels and restaurants, transport and communications (-7.6%), financial, real estate, renting activities and services for enterprises (-3.8%).

Construction works and other services boosted their activities by 4.7% and 3.1% respectively.

Trade deficit diminished for the seventh consecutive month in April 2009 as compared to April 2008, to 835.1 million euro.

Imports dropped 40% in April 2009 year on year, while exports diminished by only 23%.