Moldova’s Trade Deficit Exceeded $4.456 Billion by November

Moldova’s economic agents shipped $2.949 billion worth of goods abroad in January-October, which is 12.2% less than in the corresponding period of 2023. These are the preliminary data from the National Bureau of Statistics. According to them, the export of domestic goods decreased by 4%, to $2.242 billion, and the rest was re-export, reports infotag.md. The re-export of foreign goods in January-October 2024 amounted to $ 706.9 million (24% of total exports), which is 30.8% less than in the same period of 2023. The share of foreign goods re-exported after their substantial processing amounted to 14% of the total export volume, and the classic re-export of foreign goods amounted to 10%. The EU accounted for 67.1% of total exports, or $1.980 billion (-8.9%). Only 7% of products worth $209.6 million (-16.6%) were shipped to the CIS countries. Machinery and electrical equipment were exported the most - 16.5% of all supplies, fruits and vegetables - 12%, as well as cereals - 9.8% and oilseeds - 8.6%. Imports to Moldova increased by 3.9% over the year and exceeded $7.406 billion. Almost half of the $3.672 billion came from EU countries (+6.1%). The result of the predominance of imports over exports was an increase in the country’s trade deficit by 18.2% to $4.456 billion. As a result, the degree of import coverage by exports amounted to only 39.8% - 7.3 percentage points less than a year ago.