Moldovan exports increase 15 per cent in five months of 2017

Chisinau, 10 July /MOLDPRES/ – The exports of goods from the Republic of Moldova increased in January-May 2017 by around 15 per cent, compared to the same period last year, and amounted up to $850 million. 

The Economy Ministry’s communication and public relations department has reported that the increase in exports was driven by the improvement of the external demand and the decrease of the unit price of the delivered goods. Another important factor was the essential increase in the volume of agricultural production in 2016.

During this period, exports were made mainly in the European Union (EU), with over 63 per cent of total exports, amounting to about $540 million, which is over 15 per cent more than in the same period of 2016. Also, exports to CIS countries accounted for almost 20 per cent of total exports and reached about $180 million. However, there are tendencies of reorientation of exports to EU markets, increasing the quality of goods and adjusting them to international standards. 

At the same time, in January-May 2017, goods’ imports amounted to almost $1 billion 800 million, which is over 16 per cent more than in the same period of 2016. The imports from EU countries amounted to $880 million or more over 17 per cent more than in January-May 2016, representing 49 per cent of total imports. The imports from CIS countries amounted to over $450 million or more over 11 per cent more than in the same period of 2016, accounting for more than 25 per cent of total imports.

The quoted source informed further that the increase in exports and imports was also due to the fact that Moldova enjoys a number of trade regimes both with Western and Euro-Asian countries on the basis of free trade agreements between Moldova and CIS, GUAM, CEFTA, Turkey and the European Union under the DCFTA. Currently, about 80 per cent of Moldova’s trade takes place under a free trade regime under these agreements.

Similarly, Moldova is in negotiation process of signing new bilateral Free Trade Agreements with China, Egypt, India and the EFTA countries (Iceland, Liechtenstein, Norway, Switzerland). These future perspectives will expand access to several outlets, with a potential of around 900 million consumers, thus offering new export opportunities for domestic producers.

(Reporter A. Mardare, editor L. Alcaza)