Official statistics confirm experts' forecasts, share of exports to EU close to 70 percent

Chisinau, 7 September /MOLDPRES/- Moldovan exports have reached a historic maximum, 68.7 percent of domestic goods were on the EU market in seven months of this year. Data on foreign trade of the Republic of Moldova in January-July 2018, released today by the National Statistics Bureau (BNS), confirm the experts' forecasts, which anticipate an increase of the European Union's share in total Moldovan exports to 70 per cent at the end of the year.

According to statistics, exports of Moldovan goods increased by 25.8 percent in seven months of this year compared to the same period of the previous year, to 1 billion 534 million dollars.

Exports of goods on the Community market recorded a 35.4- percent- increase compared to an advance of 16.0 percent on the CIS market.

The 90% rise in deliveries to the foreign market is driven by the increase in exports to the European Union, an unprecedented contribution to the history of our foreign trade. In 2017 the EU's contribution to the growth of our exports was extremely high of 75%, economist Veaceslav Ionita noted earlier. He said that if the trend is kept, then in 2018 "exports to the EU could account for 70 percent of total exports, which is equivalent to exports to the CIS 20 years ago.

It is the sixth consecutive year in which the share of Moldovan goods exports to the EU is growing. Three countries, members of the European Union, namely Romania, Italy and Germany, have held the top three positions in the ranking of partner countries in foreign trade, according to the results for the seven months of the year.

Exports of domestic goods recorded an important increase in January-July 2018, of 32.2 percent, which accounted for 66.4 percent of the total. Also, re-exports of foreign goods amounted to 515.2 million dollars (33.6% of total exports), increasing by 14.7% compared to January-July 2017.

Re-exports of goods after processing (clothing, wires, cables and electric transformers, footwear and parts of footwear, peeled nuts, chairs and other furniture, suitcases) accounted for 24.6% of total exports and re-exports of classical goods without essential transformations (medicines, cigars, liqueurs and other beverages, fabrics, knitted or crocheted fabrics, essential oils, toilet preparations, beauty products, etc.) – 9 per cent.

Data also show that in January-July 2018, imports of goods amounted to 3 billion 223.5 million dollars, higher than that recorded in the corresponding period of 2017 by 25 percent.

(Reporter V. Bercu, editor L. Alcază)