Moldovan exports register highest increase of recent six years within eleven months of 2017

Chisinau, 22 January /MOLDPRES/ – The exports of Moldova recorded an increase of 18.4 per cent in the eleven months of 2017, a value above expectations and the highest level within recent six years. The Ministry of Economy and Infrastructure (MEI) forecasts a 15 per cent advance in 2018.

It is the first time in the last ten years, when growth of exports is close to the level recorded before the economic crisis, triggered in 2014, when exports declined by eleven per cent in eleven months, after reaching the peak of the last decade in 2011 an increase of 47.1 per cent. The deliveries of Moldovan goods on foreign markets increased as a result of revival of external demand, especially in the countries of EU and Russia, rise in prices on the world market for agricultural products and food goods.

After a decline in 2014 – 2015 and an anemic increase of 2.7 per cent in eleven months of 2016, the value of goods exported between January – November 2017 increased by $341.1 million over the same period 2017. According to statistical data, 67 per cent of these were indigenous goods and 33 per cent – re – exports, according to a press release issued by the MEI’s communication and public relations department of today.

Romania has the highest export performance in Moldova. The volume of exports to Romania in 2018, similar to 2017, is the highest compared to the rest of the countries, says economic expert Veaceslav Ionita. According to the economist, this growth further strengthens leadership position of Romania in our foreign trade, which it has held for the fourth consecutive year.

Data from the National Bureau of Statistics (BNS) shows that the share of EU countries in total Moldovan exports strengthened, from 64.81 per cent in January – November 2016 to 65.7 per cent in 2017, while the share of CIS countries decreased from 20.55 per cent to 19.5 per cent.

The exports of machinery, electrical appliances and parts of them increased by 37.1 per cent, compared with the same period of 2016. The exports of vegetables and fruits also increased by 46.6 per cent, seeds and oleaginous fruits – 17.4 per cent, cereals and cereal preparations – 15.6, clothing and accessories – 13.9, beverages – 13.3, medicinal products and pharmaceuticals – 33.6, other transport equipment by 28.6 times.

Also, the value of the goods imported in January – November 2017 increased. They went up by 20.1 per cent or by $731.1 million compared to January – November 2016.

The increase in imports was conditioned by the one in domestic demand, fueled by real wage growth, bigger remittances abroad, and appreciation of the national currency (MDL), which in turn led to an increase in the physical volume of imported goods.

The evolution of foreign trade during January – November 2017 was influenced by evolution of world prices for food and energy resources, recovery of production in some industrial sectors, economic situation in the region, and appreciation of the national currency (MDL), says the MEI. Similarly, one of the main factors influencing foreign trade was the substantial increase in the volume of agricultural production in 2016, as well as the continuation of the positive trend of the agricultural sector in 2017.

(Reporter V. Bercu, editor M. Jantovan)