Romania's economy shrank in the first nine months of 2020 by 5%
Gross Domestic Product decreased in the first nine months of last year, compared to the same period in 2019, by 5% on the gross series and by 4.5% on the seasonally adjusted series, while in the 3rd quarter of 2020 the economy registered a decrease by 5.7% both on the gross series and on the seasonally adjusted series, compared to the same quarter of 2019, according to the National Institute of Statistics (INS).
The reopening of the economy has brought a number of benefits. There were higher increases in gross value added for entertainment, cultural and recreational activities, repairs of household products and other services, as well as IT. Instead, there was a decline in wholesale and retail trade, repair of motor vehicles and motorcycles, transport and storage, hotels and restaurants.