Moldova flag Moldova: Economic and Political Overview

Foreign trade figures of Moldova

Foreign Trade in Figures

International Trade represents over 77% of Moldova's GDP (World Bank, latest data available). The country mainly exports insulated electric conductors, sunflower seeds, wine of fresh grapes and seats and parts thereof; while imports are driven by petroleum oils, medicaments and motor cars.

Traditionally, exports were directed mainly to Russia, but since 2009 more than half of Moldova’s exports have been destined for EU markets (also thanks to a strategic agreement on customs co-operation signed with the EU, which aims to increase cooperation and promote trade with the two entities). In 2020, the country’s main trading partners were Romania (28.6%), Germany (9.1%) and Russia (8.8%); whereas imports came chiefly from China (11.9%), Romania (11.7%), and Russia(11.1%). The European Union received 68.8% of total Moldova’s exports and was the origin of 49.5% of its imports. Exports of goods to the countries of the European Union (EU-27) totalled USD 1.9 billion in 2021 (17% more compared to 2020), accounting for 61.% of total exports.

Overall, Moldova's trade deficit widened by 36.7% on the year in 2021, to USD 4.032 billion according to the country's statistics bureau. Moldova's exports were 24.5% higher on the year, while imports rose by 32.2% during 2021.

 
Foreign Trade Values 20162017201820192020
Imports of Goods (million USD) 4,0204,8315,7605,8435,416
Exports of Goods (million USD) 2,0452,4252,7062,7792,485
Imports of Services (million USD) 8359011,0891,161859
Exports of Services (million USD) 1,0471,2141,4421,5121,250

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20162017201820192020
Foreign Trade (in % of GDP) 87.685.685.987.477.0
Trade Balance (million USD) -2,079-2,559-3,294-3,312-3,076
Trade Balance (Including Service) (million USD) -1,852-2,254-2,939-2,961-2,687
Imports of Goods and Services (Annual % Change) 2.811.09.76.7-8.9
Exports of Goods and Services (Annual % Change) 9.810.97.27.3-15.5
Imports of Goods and Services (in % of GDP) 55.354.555.756.049.7
Exports of Goods and Services (in % of GDP) 32.331.130.131.427.3

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20212022 (e)2023 (e)2024 (e)2025 (e)
Volume of exports of goods and services (Annual % change) 11.08.66.36.05.9
Volume of imports of goods and services (Annual % change) 1.96.86.05.96.2

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
The Republic of Moldova is a member of the Commonwealth of Independent States (CIS).
The country has also signed a number of bilateral agreement namely with Serbia and Romania.
 

Main Partner Countries

Main Customers
(% of Exports)
2020
Romania 28.6%
Germany 9.1%
Russia 8.8%
Italy 8.7%
Turkey 7.0%
See More Countries 37.8%
Main Suppliers
(% of Imports)
2020
China 11.9%
Romania 11.7%
Russia 11.1%
Ukraine 9.7%
Germany 8.3%
See More Countries 47.2%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

2.5 bn USD of products exported in 2020
Insulated incl. enamelled or anodised wire, cable...Insulated incl. enamelled or anodised wire, cable incl. coaxial cable and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made-up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors 17.0%
Sunflower seeds, whether or not brokenSunflower seeds, whether or not broken 7.7%
Wine of fresh grapes, incl. fortified wines; grape...Wine of fresh grapes, incl. fortified wines; grape must, partly fermented and of an actual alcoholic strength of > 0,5% vol or grape must with added alcohol of an actual alcoholic strength of > 0,5% vol 5.4%
Seats, whether or not convertible into beds, and...Seats, whether or not convertible into beds, and parts thereof, n.e.s. (excl. medical, surgical, dental or veterinary of heading 9402) 4.5%
Sunflower-seed, safflower or cotton-seed oil and...Sunflower-seed, safflower or cotton-seed oil and fractions thereof, whether or not refined, but not chemically modified 4.1%
See More Products 61.3%
5.4 bn USD of products imported in 2020
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 6.5%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses incl. those in the form of transdermal administration or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 4.3%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.1%
Insulated incl. enamelled or anodised wire, cable...Insulated incl. enamelled or anodised wire, cable incl. coaxial cable and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made-up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors 2.5%
Electrical apparatus for line telephony or line...Electrical apparatus for line telephony or line telegraphy, incl. line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones; parts thereof 2.1%
See More Products 81.5%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import Export Flows.

 

Main Services

1.2 bn USD of services exported in 2018
34.55%
31.32%
13.65%
10.00%
5.84%
3.04%
0.44%
0.44%
0.43%
0.26%
0.01%
1.1 bn USD of services imported in 2018
36.00%
32.16%
14.12%
5.10%
3.49%
2.61%
2.41%
1.43%
0.91%
0.89%
0.88%

Source: United Nations Statistics Division, 2021. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: July 2022