NIS mission

NIS has the mission to meet the information needs of all categories of users of statistical data and information by collecting, producing and disseminating data in accordance with the Law on the Organization and Functioning of Official Statistics in Romania. (EC) No 226/2009, Regulation (EC) No. No 223/2009 of the European Parliament and of the Council of 11 March 2009 on European Statistics and the European Statistics Code of Practice necessary for substantiating decisions on economic and social development of the country and for the knowledge and information of public opinion on the realities of Romanian society.

NIS vision

NIS, as the main producer of official statistical data, responsible for the coordination of all activities at national level regarding the development, development and dissemination of European statistics, is oriented towards achieving in a near future some functional methodological and technical performances recognized on domestic and international plan, at a level comparable to the performances of the most advanced national statistical institutes in the EU Member States.

NIS Principles:

  • User orientation;
  • Commitment of the NIS leadership;
  • Efficiency in relation to statistical processes;
  • Continuous improvement of official statistics activity;
  • Commitment on the quality of statistical products;
  • Accessibility of statistical data and information;
  • Cooperation in the field of official statistics;
  • Respecting the needs of data providers;
  • Systematic implementation of quality management in statistics;
  • Meeting the collective and individual requirements of the INS staff.

Gross Domestic Product

Quarterly Gross Domestic Product (QGDP)

To access the QGDP press here.

To acces the Eurostat methodological note “Guidance on quarterly national accounts (including Flash) estimates in the context of the COVID-19 crisis press here.

Quarterly Gross Domestic Product at market price (QGDP), the main macro-economic aggregate of national accounting, represents the final result of production activity for resident productive units, for a certain period, a quarter, respectively.

NIS compiles national accounts data according to international standards (SNA 2008), EU regulations on national accounts (ESA 2010), and Eurostat, OECD and IMF handbooks and recommendations. Data for GDP and main aggregates are regularly expressed in current prices and in prices of previous year (PYP) as well as in chain link volumes (CLV).Compiling national accounts in CLV, as opposed to nominal GDP (in current prices), allows accurate estimations of real GDP and GDP growth rates across years and quarters, which is helpful for economic analyses.

For quarterly national accounts, NIS Romania applies the annual overlap technique in compiling the chain linked quarterly data, as recommended by Eurostat.

Quarterly Gross Domestic Product is estimated in current prices, in the prices of the corresponding period of the previous year and in chain-linked volumes with reference year 2020. Chain linking with base year 2020 is compiled by linking the volume indices by the annual overlap technique, according to Eurostat requirements. For supllementary information please the document "Methodological note on change of chain-linked reference year in Romanian National Accounts.

Besides the gross estimates of quarterly Gross Domestic Product, seasonally adjusted estimates are also compiled, based on the regressive method, this method being recommended by the European regulations.

The seasonal adjustment envisages the removal of seasonal effects from the data series in view to highlight the real economic evolution during consecutive periods. In order to adjust the main aggregates series, based on which the GDP is estimated by all three methods, JDemetra+ software package is used (X-13ARIMA-SEATS method or TRAMO-SEATS method). The obtained seasonally adjusted series are used to compile the growth rates for GDP and its components.

The revision of the quarterly accounts data is periodically done, when a new version of yearly national accounts is available. The revision of data has as objective to keep the coherence between the quarterly accounts and the yearly accounts. The periodical revision of national accounts unadjusted data series also entails the revison of seasonally adjusted series.

 

 

Last update: April 9, 2024