Moldova’s trade gap doubles in Q2

Moldova’s trade gap doubles in Q2
By bne IntelliNews August 18, 2021

Moldova’s foreign trade deficit doubled in annual terms to $1.07bn in Q2, according to data published by the statistics bureau, BNS.

Exports increased by 31% y/y to $647mn and imports soared by 67% y/y to $1.72bn.

Compared to the same period of 2019, the trade gap increased by only 31% as exports edged up by 2.9% and imports advanced by 18.9%.

But Moldova’s foreign trade is mostly directed to the European Union and the foreign trade figures expressed in US dollars (weaker this year compared to 2020 or 2019) add a negative note to the big picture, which still shows a significant deterioration in the country's external balance after the currency conversion.

Converted to euros, Moldova’s trade gap has widened by 83% y/y to €888mn. It is 22% larger than it was in the same period of 2019.

Exports increased by 19.6% y/y to €536mn, which is 4% down compared to Q2, 2019.

Imports increased by 52.8% y/y (and 10.9% compared to Q2, 2019) to €1.42bn.