Moldova's trade balance narrowed by 8.5% y/y to 27% of GDP in 2023

Moldova's trade balance narrowed by 8.5% y/y to 27% of GDP in 2023

/ bne IntelliNews

By bne IntelliNews February 19, 2024

Moldova’s exports and imports of goods (chart) contracted in 2023, nominally reversing part of the sharp advance marked in 2021 and 2022, while the trade deficit contracted nominally by 8.7% year on year to €4.275bn in 2023 according to the statistics bureau BNS.

The trade gap to GDP ratio eased more markedly from a record level of 34% in 2022 to 27.2% in 2023, remaining above the 25.5% level seen in 2020.

Converted into euros, Moldova’s exports decreased by 9% y/y to €3.744bn, or 23.8% of GDP (30.1% in 2022).

Exports of goods to the countries of the European Union (EU-27) held a share of 65.4% in total exports in 2023, 6.8 percentage points more than in 2022.

Exports of goods to the CIS countries held a share of 22.1% in total exports, decreasing by 2.0 percentage points compared to 2022.

Moldova's imports decreased by 8.7% y/y to €8.018bn, or 51.0% of GDP (64.1% in 2022).

#moldova #macro

Read in IntelliNews Pro

Get IntelliNews Pro

Related Content

EU helps Moldova overcome energy crisis with €310mn financial package

“Unchained” Trump is main risk to broadly positive Emerging Europe growth prospects

EU gives Moldova €30mn as short-term fix to energy crisis and promises longer-term plan

EU helps Moldova overcome energy crisis with €310mn financial package

“Unchained” Trump is main risk to broadly positive Emerging Europe growth prospects

EU gives Moldova €30mn as short-term fix to energy crisis and promises longer-term plan

Data

Russia’s economy defies wave of bankruptcy fears with fastest private sector PMI growth in a year

Russia’s services and manufacturing sectors expanded at their fastest pace in a year in January, driven by improved demand conditions and a sharp rise in new orders, according to the latest Purchasing Managers’ Index (PMI) data from S&P Global.

Most of USAID aid goes to Ukraine

US President Donald Trump has suspended the distribution of aid via USAID. Ukraine is currently its biggest recipient, reports Statista.

Kazakh manufacturing growth decelerates from end-of-year high, but continues to expand, PMI shows

Producers still securing greater volumes of new orders. Near-stabilisation in supply chains.

“Disappointing” PMI data shows solid scaleback of Turkish manufacturing in January

No take-off as demand conditions remain subdued.

Serbia’s birth rate hits historic low in 2024

Serbia's population is expected to drop from 6.7mn in 2022 to just 5.2mn by 2052.

Russia’s economy defies wave of bankruptcy fears with fastest private sector PMI growth in a year

Most of USAID aid goes to Ukraine

Kazakh manufacturing growth decelerates from end-of-year high, but continues to expand, PMI shows

“Disappointing” PMI data shows solid scaleback of Turkish manufacturing in January

Serbia’s birth rate hits historic low in 2024

Dismiss

Chat with usLiveChat