MOLDOVAN GDP GREW 4.5% IN 2017

The Moldovan GDP accounted for 150,369 million (US$8,845 million) in current market prices as of the end of 2017, growing 4.5% over a year in real terms against the second assessment of the 2016 GDP.

According to the National Bureau of Statistics (NBS), this was due to the following activities: wholesale and retail trade, technical servicing and repairing of road vehicles and motorcycles, transportation and storing; activities on accommodation and catering (+1.3%), whose gross value added grew 6.6%, while their share in the GDP accounted for 20.5%; agriculture, forestry and fishery (+1%) whose GVA grew 7.9%, while share in GDP reached 12.2%; mining and processing industry, production and supplying of electricity and heating energy, natural gas and hot water, air conditioning, water supply; waste treatment and processing and rehabilitation works (+0.4%), whose GVA grew 3%, while share in GDP accounted for 14.6%; informational services and communications (+0.2%), whose GVA grew 3%, while share in GDP accounted for 5.7%; building (+0.1%), whose GVA grew 4.3%, while share in GDP accounted for 3.3%

The general GVA in economy exceeded the previous year level by 3.8%, influencing the GDP growth and formation by 3.3% and 84.1%, respectively.

The volume of taxes on food products grew 6.9% against the previous year, positively influencing both the growth (+1.1%) and the structure of the GDP (+16.3%).

In terms of GDP using, the growth is conditioned mostly by the households' final consumption (+4.2%), whose volume grew 4.9%, while share in GDP accounted for 85.8% and the gross fixed capital formation (+1.2%), whose volume grew 5.3%, while the share in GDP made 21.9%.

The net exports negatively influenced the GDP actual volume index (-2.7%) as a result of negative trade balance (-42,292 million lei).

Infotag's dossier: In early 2017, the International Monetary Fund, the World Bank and the Moldovan Ministry of Economy and Infrastructure forecasted economy growth within 4-4.5%, but in the second half of the year they lowered their target to 3.5%.

In 2016 the national economy grew 4.1% - to 134,476 million lei (US$6,723 million).