Net earnings in oil and gas sector fall 23 pct, stay highest in Romania

Net earnings in extraction of crude petroleum and natural gas fell 23.1 percent in June against May, according to data by the National Institute of Statistics. However, they remained highest among net earnings, at RON 5,019.

The average net nominal earnings were 1,818 lei, up RON 12 against the previous month (0.7 percent), with the lowest earnings being recorded in accommodation and food service activities (RON 1,032).

Compared to the previous month, the average gross nominal earnings in June were 2,516 lei, 0.6 percent higher.

Year on year, the rise was of 7.8 percent. The real earnings index (calculated as the ratio between the net nominal earnings index and the consumer prices index) in relation with the same period of the previous year was at 109.5 percent.

Against May, the real earnings index was 103.8 percent for June 2015, while compared to October 1990 it stood at 137.5 percent, by 4.9 percentage points higher than the one recorded in May 2015.

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The most significant increases in the average net earnings were seen in manufacture of beverages (16.5 percent); manufacture of computer, electronic and optical products, publishing activities, manufacture of motor vehicles, trailers and semi‐trailers (between 10 percent and 14.5 percent); mining of metal ores, manufacture of machinery and equipment, printing and reproduction of recorded media, manufacture of rubber and plastic products, manufacture of textiles (between 5.5 percent and 8.5 percent); sewerage, manufacture of leather and related products, manufacture of basic chemicals, fertilisers and nitrogen compounds, plastics and synthetic rubber in primary forms, manufacture of basic metals, telecommunications, scientific research and development (between 3.5 percent and 5.5 percent).

These variations have been influenced by seasonal bonuses, production achievements or higher receipts.

The most significant decreases in the average net earnings have been registered in extraction of crude petroleum and natural gas (23.1 percent); manufacture of coke and refined petroleum products, activities auxiliary to financial services and insurance activities, forestry and logging, mining support service (between 9.5 percent and 14.5 percent); mining of coal and lignite, financial service activities, electricity, gas, steam and air conditioning supply, air transport (between 2.5 percent and 3.5 percent).

These variations were influenced by occasional bonuses (including quarterly, annual, performance and Easter bonuses), production un-achievements or hiring staff with low earnings.

In the budgetary sector (economic activities of public administration, education and health and social assistance, excluding armed forces and similar) slight fluctuations of the average net earnings were registered against the previous month as follows: public administration (0.4 percent), education (‐0.6 percent), health and social assistance (‐0.8 percent).

Natalia Martian