Moldova flag Moldova: Economic and Political Overview

Foreign trade figures of Moldova

Foreign Trade in Figures

International trade represents over 89% of Moldova's GDP (World Bank, latest data available). The country is a member of the World Trade Organization (WTO) and has signed 44 free trade agreements, including those with the EU, Turkey, the UK, and the Commonwealth of Independent States. According to provisional data by the National Bureau of Statistics, in 2022 the country’s main exports were food and live animals (21.3%), machinery and transport equipment (15.9%), mineral fuels and lubricants (13.6%), and petroleum products (12.9%); whereas imports were led by mineral fuels and lubricants (28%), machinery and transport equipment (22%), petroleum products (16.7%), manufactured goods (14.1%), and chemical products (11.7%).

Traditionally, exports were directed mainly to Russia, but since 2009 more than half of Moldova’s exports have been destined for EU markets. In 2022, the country’s main trading partners were Romania (28.6%), Ukraine (16.6%), Italy (7.6%), Turkey (7%), and Germany (5.3%); whereas imports came chiefly from Romania (17.9%), Russia(12.4%), China (10.3%), Ukraine (9.3%), and Turkey (7.2% - data National Bureau of Statistics). According to the EU Delegation to Moldova, exports of several Moldovan goods to the European Union increased significantly in January-September 2022: exports of machinery, electrical equipment and parts rose by 3.4% to USD 393.5 million, those of oilseeds and fruits totalled USD 266.7 million (up by 280.5%), and those of cereals reached USD 204.7 million (+249.6%).

Moldova’s trade balance is structurally in deficit. According to data by WTO, in 2021 the country exported USD 3.1 billion worth of goods against USD 7.1 billion in imports (+26.5% and +32.5%, respectively). Concerning services, exports (at USD 1.6 billion) were slightly higher than imports (USD 1.1 billion). Data from the World Bank shows that the country’s trade balance on goods and services was negative by 27.4% of GDP in 2021 (from 22.8% one year earlier). Preliminary figures from the National Bureau of Statistics point out that, in 2022, Moldova exported USD 4.3 billion worth of goods (+37.9% year-on-year), importing USD 9.2 billion (+28.5% y-o-y).

 
Foreign Trade Values 20182019202020212022
Imports of Goods (million USD) 5,7605,8435,4167,1779,219
Exports of Goods (million USD) 2,7062,7792,4673,1444,335
Imports of Services (million USD) 1,1211,1788801,1621,371
Exports of Services (million USD) 1,4771,5441,2781,6352,275

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 87.487.679.388.5110.9
Trade Balance (million USD) -3,294-3,312-3,094-4,190-4,984
Trade Balance (Including Service) (million USD) -2,938-2,946-2,696-3,718-4,080
Imports of Goods and Services (Annual % Change) 8.46.2-9.521.215.8
Exports of Goods and Services (Annual % Change) 4.18.2-14.917.524.9
Imports of Goods and Services (in % of GDP) 56.856.451.457.870.0
Exports of Goods and Services (in % of GDP) 30.731.227.930.640.9

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) 4.66.06.26.05.3
Volume of imports of goods and services (Annual % change) 8.53.66.37.28.4

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
The Republic of Moldova is a member of the Commonwealth of Independent States (CIS).
The country has also signed a number of bilateral agreement namely with Serbia and Romania.
 

Main Partner Countries

Main Customers
(% of Exports)
2022
Romania 28.6%
Ukraine 16.6%
Italy 7.6%
Türkiye 7.0%
Germany 5.3%
See More Countries 34.7%
Main Suppliers
(% of Imports)
2022
Romania 17.9%
China 10.3%
Ukraine 9.3%
Türkiye 7.2%
Germany 6.3%
See More Countries 49.2%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

4.3 bn USD of products exported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 12.9%
Insulated "incl. enamelled or anodised" wire,...Insulated "incl. enamelled or anodised" wire, cable "incl. coaxial cable" and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors 11.0%
Sunflower-seed, safflower or cotton-seed oil and...Sunflower-seed, safflower or cotton-seed oil and fractions thereof, whether or not refined, but not chemically modified 8.5%
Maize or cornMaize or corn 7.8%
Sunflower seeds, whether or not brokenSunflower seeds, whether or not broken 7.8%
See More Products 52.0%
9.2 bn USD of products imported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 16.3%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 9.2%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.6%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 2.6%
Insulated "incl. enamelled or anodised" wire,...Insulated "incl. enamelled or anodised" wire, cable "incl. coaxial cable" and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors 2.3%
See More Products 66.0%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import Export Flows.

 

Main Services

2.0 bn USD of services exported in 2022
36.71%
23.85%
23.61%
9.28%
2.37%
2.32%
0.84%
0.50%
0.23%
0.14%
0.14%
1.4 bn USD of services imported in 2022
39.98%
31.82%
10.55%
4.96%
3.30%
3.11%
2.41%
1.21%
1.14%
1.14%
0.38%

Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: December 2023

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