Moldova's Macroeconomic Analysis:
Nominal GDP of USD 16.6 billion in 2023.
Nominal GDP of USD 14.5 billion in 2022.
GDP per capita of USD 5,688 compared to the global average of USD 10,589.
GDP per capita of USD 6,647 compared to the global average of USD 10,589.
Average real GDP growth of 2.9% over the last decade.
Average real GDP growth of 2.6% over the last decade.
Sector Analysis
In 2021, services accounted for 69% of overall GDP, manufacturing 9%, other industrial activity 12%, and agriculture 10%. Looking at GDP by expenditure, private consumption accounted for 82% of GDP in 2021, government consumption 17%, fixed investment 29%, and net exports -28%.International trade
In 2021, manufactured products made up 40% of total merchandise exports, mineral fuels 0%, food 56%, ores and metals 4% and agricultural raw materials 0%, with other categories accounting for 0% of the total. In the same period, manufactured products made up 69% of total merchandise imports, mineral fuels 13%, food 13%, ores and metals 1% and agricultural raw materials 2%, with other goods accounting for 2% of the total. Total exports were worth USD 4 billion in 2022, while total imports were USD 9 billion.Main Economic Indicators
Economic growthThe economy recorded average annual growth of 2.6% in the decade to 2022. To read more about GDP growth in Moldova, go to our dedicated page.
Fiscal policy
Moldova's fiscal deficit averaged 2.1% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment
The unemployment rate averaged 4.2% in the decade to 2022. For more information on Moldova's unemployment click here.
Inflation
Inflation averaged 7.5% in the decade to 2022. Go to our Moldova inflation page for extra insight.
Monetary Policy
Moldova's monetary policy rate ended 2022 at 20.00%, up from 4.50% a decade earlier. See our Moldova monetary policy page for additional details.
Exchange Rate
From end-2012 to end-2022 the leu weakened by 36.6% vs the U.S. dollar. For more info on the leu, click here.
Economic situation in Moldova
The economy gained steam in Q2 on the back of stronger expansions in private and public spending and a recovery in exports. Shifting to Q3, the economy likely expanded at a milder pace, as available data suggests both external and domestic demand were downbeat in the quarter: Merchandise exports fell at a sharper annual clip in Q3 compared to Q2, while retail sales lost momentum; the latter was likely weighed on by one-year high inflation. More positively, industrial output rebounded in Q3 in annual terms; improved readings for energy supply and manufacturing production outweighed a marginal deceleration in mining and quarrying output. In politics, President Maia Sandu, the pro-EU candidate, clinched a narrow victory in the 3 November presidential run-off, boding well for Moldova’s EU accession ambitions.Moldova Economic Forecasts
Projections out to 2034.44 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 11 expert analysts.
Want to get insight on the economic outlook for Moldova in the coming years? FocusEconomics collects projections out to 2034 on 44 economic indicators for Moldova from a panel of 11 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Moldova economy. To download a sample report on the Moldova's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.