Moldavia Economy

Moldova's economy in numbers:

Nominal GDP of USD 14.5 billion in 2022.

GDP per capita of USD 5,688 compared to the global average of USD 10,589.

Average real GDP growth of 2.6% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2021, services accounted for 69% of overall GDP, manufacturing 9%, other industrial activity 12%, and agriculture 10%. Looking at GDP by expenditure, private consumption accounted for 82% of GDP in 2021, government consumption 17%, fixed investment 29%, and net exports -28%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 2021, manufactured products made up 40% of total merchandise exports, mineral fuels 0%, food 56%, ores and metals 4% and agricultural raw materials 0%, with other categories accounting for 0% of the total. In the same period, manufactured products made up 69% of total merchandise imports, mineral fuels 13%, food 13%, ores and metals 1% and agricultural raw materials 2%, with other goods accounting for 2% of the total. Total exports were worth USD 4 billion in 2022, while total imports were USD 9 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded average annual growth of 2.6% in the decade to 2022. To read more about GDP growth in Moldova, go to our dedicated page.

Fiscal policy:

Moldova's fiscal deficit averaged 2.1% of GDP in the decade to 2022. Find out more on our dedicated page.


The unemployment rate averaged 4.2% in the decade to 2022. For more information on Moldova's unemployment click here.


Inflation averaged 7.5% in the decade to 2022. Go to our Moldova inflation page for extra insight.

Monetary Policy:

Moldova's monetary policy rate ended 2022 at 20.00%, up from 4.50% a decade earlier. See our Moldova monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the leu weakened by 36.6% vs the U.S. dollar. For more info on the leu, click here.
Following Q3’s rebound thanks to recovering exports, the economy should have gained speed year on year in Q4. Industrial output grew on average in October–November, contrasting Q3’s contraction. Additionally, average inflation almost halved from Q3’s rate in Q4, boosting household purchasing power. The National Bank of Moldova (BNM)’s interest rate cut should have further supported domestic demand. On the external front, goods exports rebounded in October–November. In other news, after the European Council opened accession negotiations with Moldova in December, the BNM applied to join the Single Euro Payments Area (SEPA) in late January, which bodes well for the country’s economic efficiency, competitiveness and integration in the EU financial system.
Projections out to 2033.

41 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 11 expert analysts.

Want to get insight on the economic outlook for Moldova in the coming years? FocusEconomics collects projections out to 2033 on 41 economic indicators for Moldova from a panel of 11 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Moldova economy. To download a sample report on the Moldova's economy, click here . To get in touch with our team for more information, fill in the form at the bottom of this page .

Moldavia Datos económicos

2018 2019 2020 2021 2022
Población (millones) 2.7 2.7 2.6 2.6 2.5
PIB (en millones de dólares) 11.3 12.0 11.6 13.7 14.4
PIB per cápita (USD) 4,142 4,472 4,400 5,300 5,686
PIB (en millones de euros) 9.6 10.7 10.2 11.6 13.7
PIB per cápita (EUR) 3,509 3,995 3,857 4,482 5,405
PIB (en miles de millones de dólares) 190 210 200 242 273
Crecimiento económico (PIB nominal, var. anual) 26.4 10.6 -4.9 21.1 12.7
Crecimiento económico (PIB, var. anual) 4.1 3.6 -8.3 13.9 -5.9
Producción industrial (% var. anual) 3.7 2.0 -5.5 12.1 -5.1
Desempleo (% de la población activa, aop) 3.0 5.1 3.8 3.3 3.1
Saldo fiscal (% del PIB) -0.9 -1.5 -5.3 -1.9 -
Deuda pública (% del PIB) 31.8 28.8 36.6 33.1 -
Inflación (IPC, % var. anual, aop) 3.0 4.8 3.8 5.1 28.7
Tipo básico (%, eop) 6.50 5.50 2.65 6.50 20.00
Tipo de cambio (MDL por USD, eop) 17.0 17.1 17.1 17.8 19.1
Tipo de cambio (MDL por USD, aop) 16.8 17.5 17.2 17.6 18.9
Tipo de cambio (MDL por EUR, eop) 19.5 19.2 20.9 20.2 20.5
Tipo de cambio (MDL por EUR, aop) 19.8 19.6 19.7 20.9 19.8
Balanza por cuenta corriente (en millones de dólares) -1.2 -1.1 -0.9 -1.7 -
Balanza por cuenta corriente (% del PIB) -10.7 -9.2 -7.7 -12.4 -
Balanza comercial de mercancías (en millones de USD) -3.3 -3.3 -3.1 -4.2 -
Exportaciones de mercancías (en millones de dólares) 2.0 2.1 1.9 2.6 -
Importaciones de mercancías (en millones de dólares) 5.3 5.4 5.0 6.8 -
Exportaciones de mercancías (% var. anual) 5.8 7.2 -8.2 31.8 -
Importaciones de mercancías (% var. anual) 19.1 3.0 -7.2 34.0 -
Inversión extranjera directa (en millones de dólares) 0.3 0.5 0.1 0.3 -
Reservas internacionales (en millones de dólares) 3.0 3.1 3.8 3.9 4.5
Reservas internacionales (meses de importaciones) 6.8 6.8 9.0 6.9 -
Deuda externa (en millones de dólares) 7.2 7.2 8.1 8.8 -
Deuda externa (% del PIB) 63.6 60.3 70.2 63.9 -

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