Moldova Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

upper middle-income Eastern European economy; sustained growth reversed by COVID-19; significant remittances; Russian energy and regional dependence; agricultural exporter; declining workforce due to emigration and low fertility

Real GDP (purchasing power parity)

$36.637 billion (2021 est.)

$32.153 billion (2020 est.)

$34.715 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

13.94% (2021 est.)

-7.38% (2020 est.)

3.68% (2019 est.)

Real GDP per capita

$14,000 (2021 est.)

$12,200 (2020 est.)

$13,000 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$11.982 billion (2019 est.)

Inflation rate (consumer prices)

5.11% (2021 est.)

3.77% (2020 est.)

4.84% (2019 est.)

Credit ratings

Moody's rating: B3 (2010)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 17.7% (2017 est.)

industry: 20.3% (2017 est.)

services: 62% (2017 est.)

GDP - composition, by end use

household consumption: 85.8% (2017 est.)

government consumption: 19% (2017 est.)

investment in fixed capital: 21.9% (2017 est.)

investment in inventories: 1.4% (2017 est.)

exports of goods and services: 42.5% (2017 est.)

imports of goods and services: -70.7% (2017 est.)

Agricultural products

maize, wheat, sunflower seeds, grapes, apples, sugar beets, milk, potatoes, barley, plums/sloes

Industries

sugar processing, vegetable oil, food processing, agricultural machinery; foundry equipment, refrigerators and freezers, washing machines; hosiery, shoes, textiles

Industrial production growth rate

-0.67% (2021 est.)

Labor force

810,000 (2021 est.)

Labor force - by occupation

agriculture: 32.3%

industry: 12%

services: 55.7% (2017 est.)

Unemployment rate

3.96% (2021 est.)

3.82% (2020 est.)

5.1% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 8.6%

male: 5.3%

female: 14.7% (2021 est.)

Population below poverty line

7.3% (2018 est.)

Gini Index coefficient - distribution of family income

26 (2019 est.)

Household income or consumption by percentage share

lowest 10%: 4.2%

highest 10%: 22.1% (2014 est.)

Budget

revenues: $3.582 billion (2019 est.)

expenditures: $3.754 billion (2019 est.)

note: National Public Budget

Budget surplus (+) or deficit (-)

-0.6% (of GDP) (2017 est.)

Public debt

33.01% of GDP (2020 est.)

24.95% of GDP (2019 est.)

27.02% of GDP (2018 est.)

Taxes and other revenues

17.41% (of GDP) (2020 est.)

Fiscal year

calendar year

Current account balance

-$1.699 billion (2021 est.)

-$886.899 million (2020 est.)

-$1.106 billion (2019 est.)

Exports

$4.197 billion (2021 est.) note: data are in current year dollars

$3.222 billion (2020 est.) note: data are in current year dollars

$3.662 billion (2019 est.) note: data are in current year dollars

Exports - partners

Romania 27%, Russia 9%, Italy 9%, Germany 9%, Turkey 6%, Poland 5% (2019)

Exports - commodities

insulated wiring, wheat, sunflower seeds, rolled iron, wine, corn, seats (2021)

Imports

$7.915 billion (2021 est.) note: data are in current year dollars

$5.918 billion (2020 est.) note: data are in current year dollars

$6.608 billion (2019 est.) note: data are in current year dollars

Imports - partners

Romania 20%, Russia 10%, Ukraine 9%, Germany 8%, China 7%, Turkey 6%, Italy 6% (2019)

Imports - commodities

refined petroleum, cars, insulated wiring, packaged medicines, broadcasting equipment (2019)

Reserves of foreign exchange and gold

$3.902 billion (31 December 2021 est.)

$3.784 billion (31 December 2020 est.)

$3.06 billion (31 December 2019 est.)

Debt - external

$7.232 billion (2019 est.)

$7.16 billion (2018 est.)

Exchange rates

Moldovan lei (MDL) per US dollar -

17.68 (2021 est.)

17.322 (2020 est.)

17.573 (2019 est.)

16.802 (2018 est.)

18.499 (2017 est.)

NOTE: The information regarding Moldova on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Moldova 2023 information contained here. All suggestions for corrections of any errors about Moldova 2023 should be addressed to the CIA or the source cited on each page.