Moldova's industry grows by 4.7-per cent in January 2018

Chisinau, 22 March /MOLDPRES/ - The industrial output grew by 4.7 per cent in January 2018 against the same period of the year before. The industry, which accounts for almost 15 per cent of the Moldovan economy, sped up its increase after it had recorded a 3.4-per cent growth of production in 2017.  

The extension of the work of investors in Free Economic Zones (FEZ), especially in the automotive industry branch, opening of external markets, turning to good account of opportunities provided by agreements on international economic cooperation, increase in the demand for the native industrial products on the domestic market, positive developments of the agricultural sector in 2017 represented the main factors which prompted the increases in the industrial sector, the Economics and Infrastructure Ministry has said.    

The industry evolved upwards, as a result of a 14-per cent growth of the processing industry, which has a share of about 82 per cent of the entire industrial sector. Official statistics shows that the food industry, which represents a significant branch of the processing industry, increased by 7.4 per cent. After a relatively good agricultural year, the processing and canning of fruits and vegetables grew by 43 per cent, processing and canning of meat products – by 11 per cent, the fabrication of bakery goods increased by 15 per cent and of other food products – by 38 per cent.    

Statistic data also shows that the industry of beverages recorded a 19-per cent growth of the fabricated production and the exports to foreign markets grew by 48 per cent. These developments prove that the producers of beverages successfully oriented themselves to other sales markets but the Russian one.    

The Economics and Infrastructure Ministry also said that the automotive industry becomes a more and more important branch for the national economy, with its production, exports and number of jobs being on the rise. The extension of investments projects within FEZ prompted a two-fold increase in the production of electric wires and cables in last January, thus influencing by 2.3 percentage points the growth of the general index of the food production. Thus, the exports of these products increased by 60 per cent, with a share of about 15 per cent of all exports.        

In January 2018, the extractive industry also registered a 29-per cent growth against January last year. The production of this industry was backed by the demand on the domestic market, including on behalf of the related industries. For instance, the manufacture of concrete, cement and plaster materials, which depends on the extractive industry, recorded a 63-per cent growth on this period.   

The energy sector registered a 12-per cent decrease of the production and supply of electric energy, thermal energy, gas, hot water and conditioned air. This evolution is explained by the higher average air temperatures in January 2018 against January 2017, which influenced the diminution of the intensity of the energy production.

The Economics and Infrastructure Ministry forecasts a yearly five-per cent increase of industry in 2018 and 2019 and a six-percent growth in 2020.  

(Reporter V. Bercu, editor M. Jantovan)