Romania's Gross Domestic Product (GDP), estimated for 2009 was 7.1 percent lower in real terms as against the GDP in 2008, the National Statistics Institute (INS) informs in a release.

The estimated GDP for 2009 was in excess of 491.273 billion lei in current prices, down in real terms with 7.1 percent from 2008. (1 euro trades for 4.1 RON).

According to INS, this decline was the result of the reduction of the gross added value volume in all activity sectors and especially in trade, car repair and household appliances, hotels and restaurants, transport and telecommunications (minus 11.2 percent), as well as in constructions, where GDP decline was of minus 13.65 percent. The two domains had a contribution of 31.1 percent to the GDP. Net product taxation was reduced by 12.4 percent.

Total final consumption recorded an 8.2 percent drop in 2009 compared to a year earlier, especially due to the 10.8 percent cut in population households final consumption expenditure.

Fixed capital gross formation was reduced by 25.3 percent.