The Romanians' purchasing power recorded the fastest growth in the European Union (EU) in 2017, namely 7.8%.

However, in nominal terms, the purchasing power in Romania remained at one of the lowest levels in the EU, of EUR 4,556, over three times lower than the EU average of EUR 16,436, according to a study by market research company GfK.

The average purchasing power in EU advanced by 1.9% last year.

The purchasing power measured by GfK represents the population’s net available income, including welfare.

The higher purchasing power of the Romanians also determined higher retail sales. Romania was second in Europe for the increase in retail turnover, with a 9.3% growth rate, surpassed only by the Czech Republic (+9.8%). GfK expects the turnover in retail to continue growing at a fast pace this year in Romania, with a nominal increase of 7.5%.

GfK: Consumer goods market, up 13% in Romania in the first quarter

editor@romania-insider.com