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).

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