Moldova Reduced Exports by More than 10% and Increased Imports by Almost 18%

Moldova’s exports amounted to less than $1.335 billion by early June, which is 10.5% less than a year ago. These figures were released by the National Bureau of Statistics. According to statistics, exports of domestic goods amounted to $1.033 billion, with the remainder being re-exports of foreign products. Deliveries to EU countries decreased by 14% compared to January-May 2024, to $841.3 million. Thus, its share in total exports decreased to 63% of total exports, writes infotag.md. The main export items were machinery and electrical equipment (16.8%), oilseeds (12.6%), and fruits and vegetables (9.5%). The largest consumers of Moldovan goods are Romania (27.8%), Turkey (13.3%), the Czech Republic (8.9%), and Italy (8.7%). Imports of goods amounted to $4.264 billion over five months, which is 17.7% more than in the corresponding period of 2024. More than half of imports – $2.328 billion – came from EU countries (+33.6%). The threefold gap between exports and imports led to a negative trade balance of $2.929 billion, which is $798.6 million (+37.5%) more than in the same period of 2024. Financial analyst Vladimir Golovatiuc called Moldova’s foreign trade deficit, especially its growth, “a serious macroeconomic problem, because it is, in essence, an OUTFLOW of currency from the country”. “It should also be noted that Moldovan exports have been declining for more than two years. The decline in exports is the cumulative result of two factors: a reduction in domestic supply of goods, i.e. a decline in production, and a decrease in external demand for Moldovan products, i.e. economic problems in trading partner countries,” he commented on the NBS data.