Economics

MOLDOVA'S GDP DECREASES BY 7.2% IN FIRST HALF-YEAR

16 september, 2020

Moldova's GDP in the first half of the year amounted to 88.314 billion lei (US $ 5.194 billion) at current market prices, decreasing compared to the same period of 2019 in real terms by 7.2%.

As the National Bureau of Statistics informed, the gross value added (GVA) in the economy as a whole decreased by 5.5%, affecting the decline in GDP by 6.3% and reaching 86.6% of the GDP.

The following activities had the greatest impact on the decline of the GDP: wholesale and retail trade; maintenance and repair of motor vehicles and motorcycles; transport and storage; accommodation and catering activities (-2.1%), the GVA of which decreased by 10.7%, and the contribution to the formation of GDP constituted to 19%.

In terms of the use of GDP, the decline was due to a 9.7% decrease in final household consumption, which led to a decrease in the share in GDP by 8.1%.

According to the NBS, GDP in the second quarter amounted to 44.629 billion lei (US $ 2.625 billion) in current prices, having decreased over the year in real terms by 14%, and taking into account seasonal adjustments by 11.5%.

Infotag's dossier: Moldova's GDP at the end of 2019 was 210.1 billion lei (US $ 12.144 billion) at current market prices, having increased over the year in real terms by 3.6%. In 2020, due to the coronavirus pandemic, the IMF, the World Bank and the EBRD predict a decline in the Moldovan economy by at least 3-4%. The government expects GDP to contract by 4.5%.

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