The net average wage in Romania increased by 14.2% y/y in local currency and by 13% y/y in euros to RON 4,859 (EUR 977) in January, gaining 6.3% y/y in real terms, according to the data published by the statistics office INS.

The real annual growth rates eased from outstanding levels around 8% y/y in November and December but remain rather robust.

Wages are expected to keep gaining ground at positive real rates (some 4% on average in 2024) after the 4.4% y/y increase in 2023 achieved despite high inflation. Private consumption is seen as one of the main economic growth drivers this year, besides hopeful improvements in the external debt.

Wages have increased in January by real annual rates of over 10% in numerous sectors, while the steepest advance (+26% y/y, real terms) was in the education sector. The transportation industries (air, water, logistics for transportation) form another cluster where wages increased by a real 10%-20% y/y in January.

The average net wages in the oil processing, plastic and rubber, chemistry, and pharmaceutical industries also increased by over 10% y/y in real terms.

iulian@romania-insider.com

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