Economy of Moldova

Economy of Moldova
	The International Business Centre Skytower in Chișinău
Currency	Moldovan leu (MDL)
Fiscal year	Calendar year
Trade organisations	WTO, GUAM, CEFTA, BSEC, CISFTA, EAEU (observer)
Country group	Developing/Emerging; Upper-middle income economy;
Statistics
Population	3.33 million (2024 est)
GDP	$17.163 billion (nominal, 2024 est.); $45.023 billion (PPP, 2024 est.);
GDP rank	144th (nominal, 2022); 129th (PPP, 2022);
GDP growth	−8.3% (2020) 13.9% (2021); 0.0% (2022e) 2.3% (2023f);
GDP per capita	$5,155 (nominal, 2024 est.); $18,367 (PPP, 2024 est.);
GDP per capita rank	111th (nominal, 2024); 91st (PPP, 2022);
GDP by sector	agriculture: 8.29%; industry: 19.42%; services: 58.37%; (2022);
Inflation (CPI)	3.7% (2020) 5.1% (2021); 28.5% (2022e) 13.8% (2023f);
Population below poverty line	26.8% (2020) 1.0% on <$3.20/day (2020f); 0.7% on <$3.20/day (2022f) 14.4% on <$5.50/day (2020f); 11.9% on <$5.50/day (2022f)
Gini coefficient	26.0 low (2019)
Human Development Index	0.767 high HDI (80th) (2021); 0.711 high IHDI (49th) (2021);
Labour force	900.4 thousand (Q2, 2022); 41.3% employment rate (Q2, 2022);
Labour force by occupation	agriculture: 22.9%; industry and construction: 22%; services: 55.1%; (Q2, 2022);
Unemployment	2.4% (Q2, 2022); 21.6 thousand unemployed (Q2, 2022);
Average gross salary	MDL 11,539.1 / €604 / $651 monthly (Q4, 2022)
Average net salary	MDL 9,240.51 / €483 / $521 monthly (Q4, 2022)
Main industries	Food processing, agricultural machinery; foundry equipment, refrigerators and freezers, washing machines; hosiery, shoes, textiles, sugar processing, vegetable oil.
External
Exports	$3.144 billion (2021); $2.467 billion (2020); $2.799 billion (2019);
Export goods	Cereals and cereal-based products; seeds and oleaginous fruits; electrical machines, appliances and parts thereof; vegetable fats and oils − fixed, crude, refined or fractionated; vegetables and fruits; clothing and accessories; furniture and parts thereof; alcoholic and non-alcoholic beverages; yarns, fabrics, textiles and related products; road vehicles; Others.
Main export partners	Romania 23.6%; Russia 8.8%; Turkey 8.4%; Germany 7.01%; Italy 7%; Poland 6.1%; Switzerland 3.41%; Ukraine 3.4%; Czech Republic 2.4%; United Kingdom 2.2% (2021);
Imports	$7.176 billion (2021); $5.416 billion (2020); $5.842 billion (2019);
Import goods	Refined petroleum and oils obtained from bituminous minerals; Medicaments; Motor cars and other motor vehicles, including station wagons and tractors; Insulated wire, cable and other insulated conductors; Optical, photographic, cinematographic instruments and apparatus; Insecticides, rodenticides, herbicides and similar products; Electrical apparatus for switching or protecting electrical circuits (switches, relays, fuses, etc.); Automatic data processing machines; Chemical products; Others.
Main import partners	Romania 17.7%; Russia 13.4%; Ukraine 11%; China 8.8%; Germany 7.1%; Turkey 6.4%; Italy 5.07%; Poland 3.9%; Belarus 2.1%; Czechia 1.7% (2021);
FDI stock	$4.851 billion (2020 est.); FDI net flux: $62.45 million (2020 est.);
Current account	$ −1.8 billion (2022 est.); −12.8% of GDP (2022 est.);
Gross external debt	$8.687 billion (30 June 2022); 60.9% of GDP (2022 est.);
Public finances
Government debt	MDL 82.742 billion (30 June 2022); 29.6% of GDP (2022 est.);
Budget balance	MDL −17.219 billion (2022 est.); −6.19% of GDP (2022 est.);
Revenues	MDL 89.610 billion (2022 est.); 32.2% of GDP (2022 est.);
Expenses	MDL 106.8 billion (2022 est.); 38.4% of GDP (2022 est.);
Credit rating	Moody's (2022):; B3; Outlook: Negative
Foreign reserves	$4.228 billion (30 Sep 2022)
	; All values, unless otherwise stated, are in US dollars.

The economy of Moldova is an emerging upper-middle income economy, with a high Human Development Index. Moldova is a landlocked Eastern European country, bordered by Ukraine on the East and Romania to the West. It is a former Soviet republic and today a candidate member to the European Union.

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