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Moldova - Economy
How is the economy of Moldova? Based on the information we have, Moldova has a upper middle-income Eastern European economy; sustained growth reversed by COVID-19; significant remittances; Russian energy and regional dependence; agricultural exporter; declining workforce due to emigration and low fertility. Key agricultural products in this country include: wheat, maize, sunflower seeds, grapes, apples, sugar beets, barley, milk, rapeseed, potatoes (2023).
More about the economy of Moldova
| Labor force | 1.358 million (2024 est.) |
|---|---|
| Industrial production growth rate | 3.3% (2024 est.) |
| Industries | sugar processing, vegetable oil, food processing, agricultural machinery; foundry equipment, refrigerators and freezers, washing machines; hosiery, shoes, textiles |
| Population below poverty line | 31.1% (2022 est.) |
| Taxes and other revenues | 18.6% (of GDP) (2023 est.) |
| Fiscal year | N/A |
| Exchange rates | |
| Currency | Moldovan lei (MDL) per US dollar - |
| Exchange rates 2024 | 17.792 (2024 est.) |
| Exchange rates 2023 | 18.164 (2023 est.) |
| Exchange rates 2022 | 18.897 (2022 est.) |
| Exchange rates 2021 | 17.68 (2021 est.) |
| Exchange rates 2020 | 17.322 (2020 est.) |
| Debt - external | |
| Debt - external 2023 | $2.637 billion (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $5.484 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $5.453 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $4.474 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | -$2.917 billion (2024 est.) |
| Current account balance 2023 | -$1.893 billion (2023 est.) |
| Current account balance 2022 | -$2.482 billion (2022 est.) |
| Public debt | |
| Public debt 2023 | 34.3% of GDP (2023 est.) |
| Budget | |
| Revenues | $5.197 billion (2023 est.) |
| Expenditures | $6.037 billion (2023 est.) |
| Budget surplus (+) or deficit (-) | N/A |
| Remittances | |
| Remittances 2024 | 10.5% of GDP (2024 est.) |
| Remittances 2023 | 12% of GDP (2023 est.) |
| Remittances 2022 | 14% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 4.5% (2022 est.) |
| Highest 10% | 22.5% (2022 est.) |
| Imports | |
| Imports 2024 | $10.418 billion (2024 est.) |
| Imports 2023 | $9.84 billion (2023 est.) |
| Imports 2022 | $10.265 billion (2022 est.) |
| Imports (partners) | Romania 16%, Ukraine 13%, China 11%, Turkey 8%, Germany 7% (2023) |
| Comodities Imports force | refined petroleum, natural gas, cars, packaged medicine, plastic products (2023) |
| Exports | |
| Exports 2024 | $5.717 billion (2024 est.) |
| Exports 2023 | $5.866 billion (2023 est.) |
| Exports 2022 | $5.981 billion (2022 est.) |
| Exports (partners) | Romania 31%, Ukraine 13%, Italy 6%, Germany 6%, Czechia 4% (2023) |
| Comodities Exports force | insulated wire, garments, refined petroleum, seed oils, wheat (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $39.342 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $39.301 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $38.835 billion (2022 est.) |
| GDP (official exchange rate) | $18.2 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $16,500 (2024 est.) |
| Real GDP per capita 2023 | $16,000 (2023 est.) |
| Real GDP per capita 2022 | $15,400 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 7.1% (2024 est.) |
| Industry | 16.8% (2024 est.) |
| Services | 62.3% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 86.8% (2024 est.) |
| Government consumption | 17.9% (2024 est.) |
| Investment in fixed capital | 20% (2024 est.) |
| Investment in inventories | 1.1% (2024 est.) |
| Exports of goods and services | 31.4% (2024 est.) |
| Imports of goods and services | -57.3% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 1.5% (2024 est.) |
| Unemployment rate 2023 | 1.6% (2023 est.) |
| Unemployment rate 2022 | 0.9% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 3.3% (2024 est.) |
| Male | 3.4% (2024 est.) |
| Female | 3.3% (2024 est.) |
All Important Facts about Moldova
Want to know more about Moldova? Check all different factbooks for Moldova below.
