Moldova’s manufacturing output plunges

Moldova’s manufacturing output plunges

/ bne IntelliNews

By bne IntelliNews June 26, 2023

Moldova’s industrial output (chart) contracted by 10.7% y/y in April and the plunge was much deeper (-27.6% y/y) in the core manufacturing industries, according to data from the statistics bureau BNS.

In seasonally adjusted terms, the output of Moldova’s manufacturing sector has never been so low since 2016, except for the lockdown period in 2020.

In the first four months of the year, the industrial output in Moldova dropped by 6.2% y/y (-7.4% y/y for manufacturing).

The food processing industry, which accounts for nearly 30% of total industrial production in Moldova, generated 13.7% lower output in April while for the first four months of the year, the annual decline was much steeper at -20.4% y/y.

Production of beverages, another important sector with a contribution of 8-9%, posted a poor performance in April of -25% y/y. But the outstanding performance in March resulted in a 27.3% overall advance for the first four months of the year. It was the sole note of optimism in Moldova’s economy, recently.

The third most important industry, non-metallic mineral products (construction materials), contracted by 15% in April and by 14% in January-April.

#moldova #bneChart #manufacturing

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