Page 119 - bne IntelliNews SE Outlook Regions 2024

The construction works index in the 12-month period to September 2023 increased by 15.3% y/y, compared to the 12.9% y/y advance in 2022 and remains a major driver for the entire economy of the country.
The state forecasting body CNP estimates the gross value added generated by the sector up 7.8% y/y in 2023, to further accelerate: at over 9% y/y in 2025-2026 as the projects under the Resilience Facility have to be commissioned. For 2024, only a small slowdown to 7% y/y is envisaged.
Romania is the only major car manufacturer in the European Union where production decreased in the first nine months of the year, according to the European Association of Automobile Manufacturers (ACEA). In the first three quarters of 2023, the EU manufactured more than 9mn automobiles, marking a 14% increase compared to the same period in 2022. This increase is attributed to the gradual easing of supply chain challenges, allowing production volumes to improve. Among the 10 largest car manufacturers in the EU, only Romania registered a decrease (-3.6%). Thus production in Romania was 368,210 cars in the first nine months of 2023, down slightly from 381,971 cars in January-September 2022.
Ford Otosan started delivering the Transit Courier and Tourneo Courier models produced in Craiova, Romania, to its customers in Europe.
The company is investing €490mn to prepare for the production of the two models and their electric versions. After the investments are completed, the plant in Craiova will reach a capacity of 272,000 units annually. The factory produced nearly 200,000 units in 2022. The two Courier models will have a petrol engine and a diesel engine (petrol only for the Tourneo), with manual or automatic gearboxes. Starting 2024, both models will also have electric versions, alongside the Puma SUV model also produced at Craiova.
5.10 Real economy - Serbia
5.10.1 Retail
Retail trade turnover in Serbia rose by 7.6% in October 2023 compared to the same month last year, according to initial findings, the statistics office said. However, at constant prices, it remained flat year on year.
In the first ten months of 2023, there was an 8.3% rise in retail trade turnover at current prices, but a 3.4% decline in turnover when assessed at constant prices.
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