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Moldova
| Economy Overview |
| Moldova remains one of the poorest countries in Europe despite recent progress from its small economic base. It enjoys a favorable climate and good farmland but has no major mineral deposits. As a result, the economy depends heavily on agriculture, featuring fruits, vegetables, wine, and tobacco. Moldova must import almost all of its energy supplies from Russia. Energy shortages contributed to sharp production declines after the breakup of the Soviet Union in December 1991. As part of an ambitious reform effort after independence, Moldova introduced a convertible currency, freed prices, stopped issuing preferential credits to state enterprises, backed steady land privatization, removed export controls, and freed interest rates. The government entered into agreements with the World Bank and the IMF to promote growth and reduce poverty. The economy returned to positive growth of 2.1% in 2000, 6.1% in 2001, 7.2% in 2002, 6.3% in 2003, and 6.8% in 2004. Further reforms will come slowly because of strong political forces backing government controls. The economy remains vulnerable to higher fuel prices, poor agricultural weather, and the skepticism of foreign investors. |
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| Economy Statistics |
| Exports: |
$1.03 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
foodstuffs, textiles, machinery [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
Russia 35.8%, Italy 13.9%, Romania 10%, Germany 7.3%, Ukraine 6.6%, Belarus 6%, US 4.6% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$1.83 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
mineral products and fuel, machinery and equipment, chemicals, textiles (2000) [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
Ukraine 24.6%, Russia 12.2%, Romania 9.3%, Germany 8.5%, Italy 7.4% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Chamber of Commerce & Industry of the Republic of Moldova |
| Address: |
Republic of Moldova, MD-2004, Chisinau, 151 Stefan cel Mare Av |
| Phone: |
+ 373 22 / 22 15 52 |
| Fax: |
+ 373 22 / 23 44 25 |
| Website: |
http://www.chamber.md/ |
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