Romania faces third consecutive quarter of economic decline, GDP falls 2% in Q2

Romania's economy showed no growth in the second quarter of 2026 compared to the first three months of the year, according to data released by the National Institute of Statistics (INS). However, the economic performance continued its negative trend when measured against the same period in 2025.

The INS "signal" estimate indicated that the Gross Domestic Product (PIB) remained flat in real terms during the second quarter of 2026 compared to the first quarter. When compared to the second quarter of the previous year, the economy contracted by 0.4% based on gross data and by 2% on a seasonally adjusted basis.

Seasonally adjusted figures reveal a concerning pattern: Romania's economy has failed to grow quarter-on-quarter for three consecutive periods. Following a 0.9% increase in the second quarter of 2025, the GDP stagnated in the third quarter, declined by 1.9% in the fourth quarter, and saw minimal variations of -0.1% and 0% in the first two quarters of 2026, respectively.

The annual comparison paints a clearer picture of economic deterioration. The seasonally adjusted series shows that the GDP in the first quarter of 2026 was 1.1% lower than in the first quarter of 2025, and the second quarter of 2026 was 2% lower than the corresponding period last year. Overall, the first half of 2026 saw Romania's GDP decrease by 0.8% compared to the first half of 2025 (gross data), and by 1.6% on a seasonally adjusted basis.