Moldovan economy speeds up growth to 1.8 per cent in second quarter of 2016

Chisinau, 15 September /MOLDPRES/ – The economic activity has quickened in the second quarter in Moldova, supported by household consumption and an increase in some sectors. The Gross Domestic Product grew, in real terms, by 1.8 per cent in April-June after a 0.8 percent advance in the first three months of 2016, according to the National Statistics Bureau (BNS) data, made public today. 

In seasonally adjusted terms, GDP increased by 1.0 per cent compared to the same period of 2015 and by 0.6 per cent compared to the first quarter of 2016, according to official statistics.

The Economics Ministry in last August revised upwards the GDP figures for 2016 to two per cent against 1 per cent, as forecast in early 2016. GDP for this year is estimated at 132.7 billion lei.

The BNS today announced the results for the second quarter, showing an increase up to 31.4 billion lei of the Gross Domestic Product. The economy is recovering slowly after the recession of the last year's two quarters, and experts believe that, in the coming months, the advance could be relatively higher.

According to BNS, the biggest contribution to economic growth was in wholesale and retail trade, information and communication, agriculture and transport, mining and manufacturing. Gross value added on the economy increased by 2.4 per cent. The volume of taxes on products rose by 1.7 per cent compared to the same period last year.

From the point of view of GDP use, the growth was 1.9 per cent due to the increase of the final consumption of households. The net export has a negative contribution to GDP growth, as a result of a three per cent growth of exports in goods and services, in conditions when the imports of goods and services recorded a higher growth of 4.3 per cent, BNS also said. 

(Reporter V. Bercu, editor A. Raileanu)