MOLDOVAN GDP GREW 3.1% IN FIRST QUARTER

The Moldovan GDP exceeded 29.67 billion lei (US$1,562 billion) in current market prices, growing in comparison to equivalent period of 2016, in real terms - by 3.1%, while given the seasonal corrections - by 2.8%.

According to the National Bureau of Statistics (NBS), the GDP growth was influenced by wholesale and retail trade, technical maintenance and repairing of vehicles and motorcycles, transporting and storing, accommodation and catering activities (+2%), whose gross value added (GVA) grew by 10.5%, while share in GDP reached 20.1%; information services and communication (+0.3%), the GVA of which grew 3.8%, while share in GDP accounted for 7.5%; mining operations, processing industry; production and supplying of electricity and heating energy, gas, hot water; air conditioning; water supply; waste treatment and rehabilitation works (+0.2%), whose GVA grew by 1.2%, while share in GDP accounted for 15.8%.

GPD physical volume was negatively influenced by government administration and defense, mandatory social insurance, education, healthcare and social services (-0.2%), whose GVA fell by 1.2%, while share in GDP accounted for 16.4%.

The economy's GVA and taxes on food influenced the GDP by 3.1% and 1.2%, respectively and accounted for 83.2% and 18% of the GDP, respectively. These figures exceeded the rates registered over the last-year equivalent period by 3.7% and 6.9%, respectively.

From the point of view of the GDP using, the growth is mostly due to the growth in households' final consumption (+3.7%), the volume of which grew by 4.2%, while share in GDP made 86.8%, and due to the gross fixed capital formation (+0.7%), the volume of which grew 3.3%, while share in GDP accounted for 22.4%.

Negative influence on GDP actual volume index was exerted by net exports (-3.1%), as a result of considerable prevailing of the share of goods and services' imports (84.6%) over the share of exports (50.3%) in GDP formation.

Infotag's dossier: In Q12016, the GDP accounted for 24,423 billion lei (US$1,354 billion), demonstrating the growth in real terms by 0.8%, while given the seasonal corrections - by 0.3%. In general, the Moldovan economy grew 4.1% over last year.