Moldovan exports to EU market grow faster compared to CIS

Chisinau, 7 October /MOLDPRES/ – The Moldovan exports to the EU market continued to outstrip Moldova's deliveries to CIS countries, with eight-month increases of 16.7 per cent and 12.8 per cent respectively, the National Bureau of Statistics’s (BNS) information and media communication service has reported.

The official statistics also indicate the share of the European Union countries reached 64.1 per cent in January – August 2017, compared to 63.3 per cent in the same period of 2017 and exports amounted to $915.8 million. Similarly, the share of CIS countries in Moldova's exports decreased from 21.3 per cent, in eight months of 2016, to 20.8 per cent in January – August 2017.

"The evolution of exports analysis by Moldova in January – August 2017, compared to the similar period of 2016, shows the increase in exports to Romania (+ 15.8 per cent), Germany (+21.6 per cent), Russia (+11.7 per cent), Turkey (+38.0 per cent), Bulgaria (+36.9 per cent) and Ukraine (+36.3 per cent)," states the BNS.

The total exports growth within eight months by 15.2 per cent is above analysts and the Ministry of Economy and Infrastructure’s expectations, which expected an advance of 10 – 12 per cent in 2017. A much stronger ascent was registered in August, 23.8 per cent compared to similar period of 2016.

However, the statistical data does not yet confirm the authorities' forecasts, which anticipate a larger advance of exports than imports. Moldova imported goods in eight months by 18.7 per cent more than in the same period of 2016, amid the growth of domestic demand and consumption, especially of the population.

The Ministry of Economy and Infrastructure forecasts an increase in exports this year by 10 per cent and imports by 8 per cent. In a forecasting note of the ministry it was stated that "exports will increase in 2017 – 2020 by about 7.5 per cent yearly. The factors to contribute the gradual increase of exports during the forecasting period are: restoration of external demand, domestic supply to agricultural products, qualitative growth of exports, especially due to investments made in the expansion and renewal of the technological base, and integration of Moldovan products in international flows".

(Reporter V. Bercu, editor L. Alcaza)