Analysis: the Republic of Moldova exports less and imports more compared to the same period last year
We exported less, but imported more. In the first five months of this year, the total value of domestic products that went abroad reached $1.7 billion, which is eight percent less compared to the same period last year. At the same time, imports increased by 3.5 percent to $3.7 billion. The European Union remains Moldova's main trading partner.
Data show that we exported over 61 percent of our products to the European Union, worth over $1.5 billion, down 12.5 percent. Exports to the CIS increased by more than 52% to $435 million, which represents a quarter of total exports.
According to the NBS, this increase was driven by a $140 million increase in shipments to Ukraine.
The main destination for domestic goods remains Romania, where almost a third of them arrived. Ukraine follows with a share of more than 17%. Italy, Germany and Turkey are also among the countries where we export the most.
When it comes to imports, we source most goods from the European Union, with a share of over 48%. Specifically, they increased by 11 percent compared to the first five months of last year and amounted to almost $1.8 billion.
Imports from the CIS fell by more than 22% and amounted to almost $780 million.
We continue to buy more products from Romania, which has a 16% share, followed by Ukraine with over 13%. Most goods also arrive from China, Turkey and Germany.
According to the National Bureau of Statistics, the first five months of this year saw a trade deficit of more than $1.9 billion, up 16 percent compared to the same period last year.
