Romania Market News – 13/10/23

TODAY’S NEWS

ECONOMY

– The seven mandatory private pension funds in Romania (Pillar II) generated an annual average yield of 18% in the past year (Sept.2022-Sept. 2023), for the 8 million Romanian participants, Ziarul Financiar reported.

-The foreign direct investment (FDI) stock on the construction and property deal segment stood at EUR18.59 billion in 2022, seeing the third highest growth rate among all economic sectors in 2022, after industry (EUR32.6 billion in 2022 vs EUR29.4 billion in 2021) and trade (EUR19.1 billion in 2022 vs EUR17.2 billion in the previous year), according to National Bank of Romania data analyzed by real estate consulting firm Cushman & Wakefield Echinox.

-Romania’s industrial production fell 5.8% in unadjusted data in August 2023 y-o-y due to drops reported for the electricity, gas, steam and air conditioning supply (-8.3%) and manufacturing (-6.2%), the National Institute of Statistics (INS) data showed.

-Romania’s annual inflation rate eased for the seventh straight month to 8.83% in September 2023 from 9.43% in the previous month, aligning closely with market forecasts of 8.6%.

-In the first semester of 2023, the Gross Domestic product increased by 1.7%, as
compared with the first semester of 2022, for the unadjusted series and by 1.9%
for the seasonally adjusted series, INS said.

-In 2022, the agricultural production value was 109567.7 mill. lei in current prices. In 2022, also, the crop production holds the highest share (65.6%) in the structure of the agricultural production value, decreasing compared to the previous year by 5.6 p.p, INS said.

-The passenger car output of the two automotive plants of Romania, Dacia and Ford, decreased by 1.8% to 375,860 units in January-September 2023 on an annual basis, the country’s carmakers association ACAROM data showed. Dacia ranked sixth among carmakers in Eastern Europe by turnover, reporting EUR5.17 billion for 2022.

TODAY’S MARKET

EXCHANGE RATES

(Source: National Bank of Romania BNR)