Statistical data: Moldova could reach a record level of exports this year
foto: publika.md
Republic of Moldova could reach a record level of exports this year of over 3 billion dollars. In the first seven months, the volume of foreign trade increased by 25 percent over the same period last year.
But experts say this trend could be reduced after 2019, writes radiochisinau.md.
The volume of foreign trade in January-July reached nearly $ 5 billion. Exports of goods exceeded $ 1.5 billion. The increase was largely due to the increase in exports to the European Union, which accounts for nearly 70% of total exports. Deliveries to the CIS continued to decline, with a current share of just 16 percent.
And imports have increased by about a quarter, owing both to the increase in consumption of individuals and to economic agents.
The main trading partner of the Republic of Moldova is Romania, with a volume of trade of over 870 million dollars, followed by Russia - 500 million, Italy and Germany. Romania is the destination market for over a quarter of all Moldovan exports, which also contributes to the opening of more jobs, comments economic analyst Veaceslav Ionita.
"Romania is a country where large companies have deployed production capacities and Moldova provides sub-assemblies for Romania. So practically, Romania also helps us to increase exports and create jobs. Romania, this year, will surpass the historical export peak that I once had with the Russian Federation. It's stable, it has become the main trading partner of the Republic of Moldova, "said Veaceslav Ionita.
Roman Chirca, the expert, mentions that the growth trend is more modest than at the beginning of the year, when the exports were almost 40 higher.
And after 2019 the trend could reverse. "It is a 3-4 year cycle that will expand in 2019, after which we will have a moderation of this rhythm and economic growth and of international trade. The dynamics will be largely determined by the regional and European evolution of the economies where a new sovereign debt crisis is predicted to worsen the short- and medium-term situation, "the expert says.
Statistical data reveals that the Republic of Moldova has expanded the destination of its exports, especially in African or Asian countries. Exports to Benin, for example, have risen nearly 900 times, but are less than half a million dollars. In this country, the Republic of Moldova exports several categories of goods, including ice cream.
The main categories of goods exported by the Republic of Moldova are manufactured goods, food, machinery and equipment.
But experts say this trend could be reduced after 2019, writes radiochisinau.md.
The volume of foreign trade in January-July reached nearly $ 5 billion. Exports of goods exceeded $ 1.5 billion. The increase was largely due to the increase in exports to the European Union, which accounts for nearly 70% of total exports. Deliveries to the CIS continued to decline, with a current share of just 16 percent.
And imports have increased by about a quarter, owing both to the increase in consumption of individuals and to economic agents.
The main trading partner of the Republic of Moldova is Romania, with a volume of trade of over 870 million dollars, followed by Russia - 500 million, Italy and Germany. Romania is the destination market for over a quarter of all Moldovan exports, which also contributes to the opening of more jobs, comments economic analyst Veaceslav Ionita.
"Romania is a country where large companies have deployed production capacities and Moldova provides sub-assemblies for Romania. So practically, Romania also helps us to increase exports and create jobs. Romania, this year, will surpass the historical export peak that I once had with the Russian Federation. It's stable, it has become the main trading partner of the Republic of Moldova, "said Veaceslav Ionita.
Roman Chirca, the expert, mentions that the growth trend is more modest than at the beginning of the year, when the exports were almost 40 higher.
And after 2019 the trend could reverse. "It is a 3-4 year cycle that will expand in 2019, after which we will have a moderation of this rhythm and economic growth and of international trade. The dynamics will be largely determined by the regional and European evolution of the economies where a new sovereign debt crisis is predicted to worsen the short- and medium-term situation, "the expert says.
Statistical data reveals that the Republic of Moldova has expanded the destination of its exports, especially in African or Asian countries. Exports to Benin, for example, have risen nearly 900 times, but are less than half a million dollars. In this country, the Republic of Moldova exports several categories of goods, including ice cream.
The main categories of goods exported by the Republic of Moldova are manufactured goods, food, machinery and equipment.