Moldova

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Moldova - In Short.

Overview of Moldova

A large portion of present day Moldovan territory became a province of the Russian Empire in 1812 and then unified with Romania in 1918 in the aftermath of World War I. This territory was then incorporated into the Soviet Union at the close of World War II. Although Moldova has been independent from the Soviet Union since 1991, Russian forces have remained on Moldovan territory east of the Nistru River in the breakaway region of Transnistria. Years of Communist Party rule in Moldova from 2001-09 ultimately ended with election-related violent protests and a rerun of parliamentary elections in 2009. A series of pro-Europe ruling coalitions governed Moldova from 2010-19, but pro-Russia Igor DODON won the presidency in 2016 and his Socialist Party of the Republic of Moldova won a plurality in the legislative election in 2019. Pro-EU reformist candidate Maia SANDU defeated DODON in his reelection bid in November 2020 and the Party of Action and Solidarity, which SANDU founded in 2015, won a parliamentary majority in an early legislative election in July 2021. Prime Minister Natalia GAVRILITA and her cabinet took office in August 2021.  
Value
Country Full Name
Moldova
Country Code
MDA
Region
Europe & Central Asia
Income Group
Upper middle income
Currency Unit
GDP
11915547263
Population
2620495
Land Area
32885.3
Net National Income Per Capita
4110.006777
GDP per Capita (PPP)
13000.40159

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Moldova - Economic

Economy of Moldova

Despite recent progress, Moldova remains one of the poorest countries in Europe. With a moderate climate and productive farmland, Moldova’s economy relies heavily on its agriculture sector, featuring fruits, vegetables, wine, wheat, and tobacco. Moldova also depends on annual remittances of about $1.2 billion – almost 15% of GDP – from the roughly one million Moldovans working in Europe, Israel, Russia, and elsewhere.With few natural energy resources, Moldova imports almost all of its energy supplies from Russia and Ukraine. Moldova’s dependence on Russian energy is underscored by a more than $6 billion debt to Russian natural gas supplier Gazprom, largely the result of unreimbursed natural gas consumption in the breakaway region of Transnistria. Moldova and Romania inaugurated the Ungheni-Iasi natural gas interconnector project in August 2014. The 43-kilometer pipeline between Moldova and Romania, allows for both the import and export of natural gas. Several technical and regulatory delays kept gas from flowing into Moldova until March 2015. Romanian gas exports to Moldova are largely symbolic. In 2018, Moldova awarded a tender to Romanian Transgaz to construct a pipeline connecting Ungheni to Chisinau, bringing the gas to Moldovan population centers. Moldova also seeks to connect with the European power grid by 2022.The government’s stated goal of EU integration has resulted in some market-oriented progress. Moldova experienced better than expected economic growth in 2017, largely driven by increased consumption, increased revenue from agricultural exports, and improved tax collection. During fall 2014, Moldova signed an Association Agreement and a Deep and Comprehensive Free Trade Agreement with the EU (AA/DCFTA), connecting Moldovan products to the world’s largest market. The EU AA/DCFTA has contributed to significant growth in Moldova’s exports to the EU. In 2017, the EU purchased over 65% of Moldova’s exports, a major change from 20 years previously when the Commonwealth of Independent States (CIS) received over 69% of Moldova’s exports. A $1 billion asset-stripping heist of Moldovan banks in late 2014 delivered a significant shock to the economy in 2015; the subsequent bank bailout increased inflationary pressures and contributed to the depreciation of the leu and a minor recession. Moldova’s growth has also been hampered by endemic corruption, which limits business growth and deters foreign investment, and Russian restrictions on imports of Moldova’s agricultural products. The government’s push to restore stability and implement meaningful reform led to the approval in 2016 of a $179 million three-year IMF program focused on improving the banking and fiscal environments, along with additional assistance programs from the EU, World Bank, and Romania. Moldova received two IMF tranches in 2017, totaling over $42.5 million.Over the longer term, Moldova’s economy remains vulnerable to corruption, political uncertainty, weak administrative capacity, vested bureaucratic interests, energy import dependence, Russian political and economic pressure, heavy dependence on agricultural exports, and unresolved separatism in Moldova’s Transnistria region.

Unemployment Rate

Inflation Rate

Moldova - GDP Composition

GDP Composiiton & Value Added of Moldova

Last Updated: Jan, 2021, Updated For 2020.

Moldova - GDP, Value Added

Demographics of Moldova

pockets of agglomeration exist throughout the country, the largest being in the center of the country around the capital of Chisinau, followed by Tiraspol and Balti
Geographic Location

Eastern Europe, northeast of Romania

Races

Moldovan 75.1%, Romanian 7%, Ukrainian 6.6%, Gagauz 4.6%, Russian 4.1%, Bulgarian 1.9%, other 0.8% (2014 est.)

Languages

Moldovan/Romanian 80.2% (official) (56.7% identify their mother tongue as Moldovan, which is virtually the same as Romanian; 23.5% identify Romanian as their mother tongue), Russian 9.7%, Gagauz 4.2% (a Turkish language), Ukrainian 3.9%, Bulgarian 1.5%, Romani 0.3%, other 0.2% (2014 est.); note - data represent mother tonguemajor-language

Religion

Orthodox 90.1%, other Christian 2.6%, other 0.1%, agnostic <.1%, atheist 0.2%, unspecified 6.9% (2014 est.)

Dependency & Expectancy of Moldova

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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Moldova - Social Media Briefing

Moldova - Social Media & Social Commerce

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Politics & Policies of Moldova

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

BSEC, CD, CE, CEI, CIS, EAEU (observer), EAPC, EBRD, FAO, GCTU, GUAM, IAEA, IBRD, ICAO, ICC (NGOs), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO (correspondent), ITU, ITUC (NGOs), MIGA, OIF, OPCW, OSCE, PFP, SELEC, UN, UNCTAD, UNESCO, UNHCR, UNIDO, Union Latina, UNMIL, UNMISS, UNOCI, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO

Import of Moldova

Export of Moldova

Import Destination

Export Destination