Moldova's economy outpaced: GDP increase 4% in 2018
The economy of the Republic of Moldova is constantly growing. GDP in 2018 recorded a 4 percent increase compared to 2017.
The data of the National Bureau of Statistics shows that the GDP amounted to 190 billion lei, current market prices, increasing by 4.0% compared to the year 2017.
The growth of GDP in 2018 compared to 2017 contributed to almost all branches of the economy, with more positive changes to the following economic activities:
- Wholesale and retail trade; maintenance and repair of motor vehicles and motorcycles; transport and storage; (+ 1.2%), with a share of 21.0% in GDP formation and a 5.9% increase in Gross Value Added (VAB);
- Constructions (+ 1.1%), with a smaller share of GDP formation (7.9%), but with a significant increase in VAB (by 16.0%);
- Extractive industry; manufacturing industry; production and supply of electricity and heat, gas, hot water and air conditioning; water distribution; sanitation, waste management, decontamination activities (+ 0.7%), with a 15.1% share of GDP formation and a 4.3% increase in VAB;
- Agriculture, forestry and fishing (+ 0.2%), with a 10.2% share of GDP formation and a 1.9% increase in VAB;
- Information and communications (+ 0.2%), with a 4.8% share of GDP formation and an increase in VAB by 4.3%.
The volume of product taxes increased by 1.4% over the previous year, contributing to GDP growth and formation of 0.2% and 13.7%, respectively.
Public Administration and Defense; mandatory social insurance; education; health and social assistance contributed negatively to GDP growth (-0.1%) as a result of the reduction of the VAB by 0.6%.