Romania’s GDP calculated at PPP exchange rates increased to 78% of the European Union’s average in 2023, 2 percentage points (pp) more than a year earlier, Eurostat confirmed based on preliminary data.

Romania’s 2pp annual advance was among the strongest in Europe. Portugal, however, managed a 4pp surge to 83%, while Spain and Croatia posted 3pp annual increases to 89% and 76%, respectively.

Romania thus overtook Hungary (76%) by 2pp and is 1pp closer to Poland (80% of the EU average, up 1pp y/y).

In the region, Bulgaria lags behind all other EU member states with a GDP per capita of only 64% of the EU average despite a significant 2pp advance from 2022, while Greece is not much better (67%, flat y/y).

Actual individual consumption figures (calculated at PPP) for 2023 have not been released yet, but Romania stood out in 2022 with a significant 86% share of the EU average - well above the 76% share of the GDP. 

iulian@romania-insider.com

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