Romania’s GDP growth rate below EU average in Q2

Romania’s economic growth was below the EU average in the second quarter (Q2) of this year, data released by Eurostat showed on Tuesday (Sept. 7). The Southeastern country’s gross domestic product (GDP) increased by 1.8% in April-June period compared with the previous quarter, the statistical office of the European Union said. Ireland (+6.3%) recorded the sharpest increase of GDP compared to the

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Romania’s forex reserves go up by 6.68% in August

The National Bank of Romania’s (BNR) foreign exchange reserves stood at EUR 41.616 million at the end of August, compared to EUR 39.008 million at the end of July, the central bank said on Wednesday (Sept.1). During the month, EUR 3.343 million worth of inflows were registered representing: changes in credit institutions’ foreign currency-denominated required reserves with the NBR; inflows into the

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Romanian leu reaches new historic low against the euro

The Romanian leu fell deeper to a new historic low on Friday (Aug. 20) against the European currency, as the average reference rate calculated by the National Bank of Romania (BNR) stood at 4.9338 lei/euro, up by 0.60 bani (0.12%) against the previous rate, of 4.9278 lei. One leu is subdivided into 100 bani. The Romanian leu had dropped to an all-time low

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Romania posts double-digit retail sales growth in June

Retail trade in Romania surged 12.1% in June annually, according to data released by the European Statistical Office (Eurostat). The figure makes Romania among EU countries with the highest increase in retail trade. Among member states for which data are available, the highest annual increases in total retail trade were registered in Bulgaria (+22.7%), Lithuania (+15.3%), Slovenia (+12.8%), Estonia (12.2%) and Romania

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FDI flows into Romania more than triple

Foreign direct investment (FDI) into Romania more than tripled year-on-year in the first five months of 2021, to 2.432 billion euro, the Romanian National Bank (BNR) said. Equity investment (including estimated net reinvestment of earnings) and intercompany lending (FDI companies borrowing from parent groups) recorded net values of 2.340 billion euro and 92 million euro, respectively. BNR did not provide annual comparison.

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