Exports and Agriculture, Romania's main reasons for economic growth in 2013

Romania GDP went up 3.5 points in 2013 and according to Eurostat, half of the growth was brought by agriculture.

The brute value brought by the agricultural sector to the GDP increased by 23 percent in 2013. Agriculture contributed by 1.6 to 1.7 pct of the 3.5 pct growth.

The weather helped this industry and also, the results of more than EUR 10 billion that were poured into developing this sector were visible in 2013. The investments made between 2008 and 2013 showed their benefits last year. Money is starting to show in equipments and in the growing productivity.

Agriculture brought total turnover of 18.5 billion Euros, close to the peaks of 2011 and 2008. Gross value added, the added value that farmers brought in the economy amounted to nearly 8 billion, being the third best result in the last seven years. Agriculture is a very volatile component of GDP, almost entirely dependent on weather conditions.

Analysts were expecting a growth of 2.7-3 percent in 2013 and the results took everybody by surprise. They still draw attention to the fact that the consumption is still low.

The results showed that the economy relies especially on agriculture and exports, not so much on retail and construction where there are still problems. 

Exports hit a record in 2013, with an increase of more than 10 percent to EUR 50 billion. This part of the economy is expected to remain one of the main driving factors of Romanian economy, supported by the fact that economies of Romania’s commercial partners are going down.