Moldova - Economy
How is the economy of Moldova? Based on the information we have, Moldova has a 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. Key agricultural products in this country include: wheat, maize, sunflower seeds, grapes, sugar beets, apples, milk, potatoes, barley, plums (2022).
More about the economy of Moldova
| Labor force | 1.464 million (2023 est.) |
|---|---|
| Industrial production growth rate | -11.74% (2023 est.) |
| Industries | sugar processing, vegetable oil, food processing, agricultural machinery; foundry equipment, refrigerators and freezers, washing machines; hosiery, shoes, textiles |
| Population below poverty line | 31.1% (2022 est.) |
| Taxes and other revenues | 18.94% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Moldovan lei (MDL) per US dollar - |
| Exchange rates 2023 | 18.164 (2023 est.) |
| Exchange rates 2022 | 18.897 (2022 est.) |
| Exchange rates 2021 | 17.68 (2021 est.) |
| Exchange rates 2020 | 17.322 (2020 est.) |
| Exchange rates 2019 | 17.573 (2019 est.) |
| Debt - external | |
| Debt - external 2022 | $1.899 billion (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $5.453 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $4.474 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $3.902 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | -$1.974 billion (2023 est.) |
| Current account balance 2022 | -$2.482 billion (2022 est.) |
| Current account balance 2021 | -$1.699 billion (2021 est.) |
| Public debt | |
| Public debt 2022 | 34.52% of GDP (2022 est.) |
| Budget | |
| Revenues | $4.487 billion (2022 est.) |
| Expenditures | $4.684 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 12.27% of GDP (2023 est.) |
| Remittances 2022 | 14.04% of GDP (2022 est.) |
| Remittances 2021 | 15.48% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 4.3% (2021 est.) |
| Highest 10% | 22.1% (2021 est.) |
| Imports | |
| Imports 2023 | $9.867 billion (2023 est.) |
| Imports 2022 | $10.265 billion (2022 est.) |
| Imports 2021 | $7.915 billion (2021 est.) |
| Imports (partners) | Romania 23%, Russia 11%, Ukraine 10%, China 8%, Turkey 7% (2022) |
| Comodities Imports force | refined petroleum, natural gas, cars, plastic products, insulated wire (2022) |
| Exports | |
| Imports 2023 | $9.867 billion (2023 est.) |
| Imports 2022 | $10.265 billion (2022 est.) |
| Imports 2021 | $7.915 billion (2021 est.) |
| Exports (partners) | Romania 27%, Ukraine 15%, Italy 7%, Turkey 6%, Germany 5% (2022) |
| Comodities Exports force | refined petroleum, insulated wire, garments, seed oils, corn (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $38.969 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $38.666 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $40.708 billion (2021 est.) |
| GDP (official exchange rate) | $16.539 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $15,700 (2023 est.) |
| Real GDP per capita 2022 | $15,200 (2022 est.) |
| Real GDP per capita 2021 | $15,700 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 7.6% (2023 est.) |
| Industry | 17.4% (2023 est.) |
| Services | 61.1% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 85.3% (2023 est.) |
| Government consumption | 18.1% (2023 est.) |
| Investment in fixed capital | 19.7% (2023 est.) |
| Investment in inventories | 1.1% (2023 est.) |
| Exports of goods and services | 35.5% (2023 est.) |
| Imports of goods and services | -59.6% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 1.62% (2023 est.) |
| Unemployment rate 2022 | 0.91% (2022 est.) |
| Unemployment rate 2021 | 0.79% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 4.2% (2023 est.) |
| Male | 5% (2023 est.) |
| Female | 3.4% (2023 est.) |
All Important Facts about Moldova
Want to know more about Moldova? Check all different factbooks for Moldova below.
