piraeus bank group

Economic Indicators Bulletin for SEE – November 2017

The Southeastern countries-we follow- are expected to continue the significant recovery in economic activity with exports and domestic consumption being the key growth drivers. This can be observed in the Q3-2017 real GDP flash estimates, especially in the case of Romania where the highest growth rate in EU was recorded. In detail:

  • In Bulgaria, real GDP in Q3-2017 increased at 3.9% YoY from 3.7% in 
    Q2-2017 and 3.6% in Q3-2016
  • In Cyprus, real GDP in Q3-2017 reached 3.8% YoY from 4.0% in Q2-2017 and 2.9% in Q3-2016.
  • In Romania, real GDP in Q3-2017 increased significantly at 8.8% YoY compared to 6.1% in Q2-2017 and 4.3% in Q3-2016. The 8.8% real GDP growth rate is the highest in the EU and a record high in Romania since 2008.
  • In Serbia, real GDP in Q3-2017 increased at 2.1% YoY from 1.3% in Q2-2017 and 2.8% in Q3-2016.
Ilias Lekkos
Group Chief Economist
Dimitria Rotsika