The National Institute of Statistics report reveals significant expansion in the first ten months of the year, fuelled by sectors such as IT services, transport and film production.

In a year marked by economic recovery, turnover in market services provided mainly to businesses saw a notable 14.1% increase in the first ten months of 2023.

Turnover in market services, on a gross basis, saw a significant rise in various sectors. Activities such as the provision of services mainly to businesses (+17.6%), computer and information technology services (+16.2%), transport (+9.3%), film production and TV broadcasting (+4.5%) and communication activities (+4.4%) contributed to this sustained growth, according to recent data announced by the National Institute of Statistics.

In October 2023, turnover continued to improve, increasing by 4.1% compared to the previous month. Sectors such as film production and TV broadcasting recorded impressive growth of 18.8%, followed by IT services and transport.

The NSI report shows that overall turnover increased by 11.5% in October 2023 compared to the same month last year. Other business services (+14.2%), computer and information technology services (+14.0%), transport (+8.4%), film production and communication activities were among the sectors fuelling this impressive growth.

Adjusting for working days and seasonality, turnover in market services in October 2023 increased by 10.8% compared to the same month last year.

This data indicates that the economy is on an upward trend, supported by the outstanding performance of the market services sector primarily businesses. The steady growth reflects the optimism and resilience of the market in the face of economic challenges, signaling a promising period for the Romanian business environment.