Trade deficit on the rise with 1.6% increase in the last 8 months

Trade deficit on the rise with 1.6% increase in the last 8 months

In the last 8 months, Moldova exported trade goods and services worth 1,787.6 million USD, up by 2% compared to the same period of the previous year. Imports rose by 1.8% in this period, and amounted to 3,770.7 million USD. Moldova’s foreign trade evolution lead to a deficit of 1,983.1 million USD at the end of august, up by 1,6% or 31.7 million USD, compared to the previous year. The trade deficit, by geographical area, has a more balanced distribution, amounting to 713 million USD - EU countries, 655.6 million USD - CIS countries and 614.4 million USD - other countries. Out of a total of 126 countries with which the Republic of Moldova had trade relations in the current year, the foreign trade balance registered a surplus only with 37 countries. Even so and despite the fact that, at the national level, the trade deficit with EU countries has the highest percentage, bilateral trade deficits have a more balanced distribution, imports coverage by exports for the top 3 countries – the most important trade partners - was between 50% - Germany and 93% - Romania. Regarding other geographical areas, the trade deficit is much bigger. The imports coverage by exports in case of main trade partners from CSI was between 12% - Ukraine and 63% - Belarus. Foreign trade with other countries has the most unfavorable effect on the national economy, the imports coverage by exports in case of the first 3 trade partners was 3% - with China and 55% - with Turkey.

Romania is the most important trade partner, commercial exchanges with it amounting to 1 billion USD in the first 8 months of the current year or approximately 19% of the total country’s foreign trade. Foreign trade with Romania had comparable volume figures as with the whole of the CIS countries (1,18 billion USD).

By category of goods, the trade balance shows trade surplus specifically in case of non-edible raw materials, excluding fuels (+71.1 million USD); beverages and tobacco (+ 57.7 million USD); Oils, fats and wax of animal or vegetable origin (+28.1 million USD); and Foodstuffs and live animals (+17.3 million USD), as well as consistent deficits, mainly in trade with „Manufactured goods”, classified, mainly, by raw materials (-621.6 million USD); Mineral fuels, lubricants and derived materials (-577.6 million USD); Chemicals and products non-specified in other parts (-474.1 million USD); and Machines and equipment for transport (-472.5 million USD).