Page 109 - SE Outlook Regions 2024

construction works were reported.
Moldova’s agricultural output jumped by 27.5% y/y in the first nine months of 2023, mainly due to a significant increase in crop production, the country's statistical office said. In 2022, Moldova’s agricultural output fell by 30% y/y in volume, mainly due to a significant decrease in plant production.
However, the farmers are in a tough situation and are pressing the authorities to help them with bank loan moratoriums and per-hectare subsidies. Prices have decreased in Moldova, and elsewhere in the region, to historic lows due to the grain glut created by the imports from Ukraine.
Crop production rose by an annual 46.1%, while livestock production dropped by 4.2% in the first nine months of 2023.
The production of cereals and grain legumes, excluding maize, jumped by 76% y/y to 1.8mn tonnes in the first nine months of 2023. Wheat accounted for some 1.5mn tonnes after increasing by 77% on the year, barley rose by an annual 80% to 238,000 tonnes, while grain legumes saw a 41% jump to 37,000 tonnes.
5.8 Real economy - Montenegro
5.8.1 Retail
Retail sales suffered from the restrictions imposed by the government to contain the coronavirus (COVID-19) outbreak at the beginning of 2021, but as the government started gradually easing the restrictions, they returned to growth in Q2 2022 and improved significantly in the following months.
In 2023, thanks to increased pensions and wages, retail sales continued recovering. Measured at constant prices, retail sales went up by an annual 7.7% in the third quarter of 2023, slowing from the 9.9% y/y hike in the previous quarter, according to the latest available statistics office data. Measured at current prices, retail trade expanded 15.9% y/y in the third quarter after increasing by 18% y/y in the second quarter.
All sectors except for the fuel sales, which decreased by 3.9% y/y, posted growth in the third quarter. Trade in food products expanded by 16.2% y/y in Q3, while trade in other non-food products rose by 17.3% y/y.
Sales of cosmetics and pharmaceuticals increased 25.3% y/y.
109 SE Outlook 2024 www.intellinews.com