Page 33 - bne IntelliNews Southeastern Europe Outlook 2025

In nominal terms, Moldova’s GDP reached MDL316bn or €16.4bn in four quarters to the end of September 2024, up from €15.3bn in 2023.
Both in Q3 and in January-September, robust domestic demand for consumption and investments pushed up imports, rather than domestic supply – which was furthermore hit by weak external demand (exports) as well. In January-September, total consumption rose by 1.9% y/y in volume terms and gross fixed capital formation by 6.8% y/y while exports (goods and services, volume terms) contracted by 2.8% y/y. Imports surged by 5.3% y/y also in volume terms.
The overall economic activity in Moldova during the first three quarters of 2024 was dragged down by agriculture, where a weak harvest resulted in 16.6% y/y weaker value added generated by the sector in Q3 and a 9.9% y/y contraction in January-September.
Other sectors of the economy performed better, though: the manufacturing industry, in particular, generated 3.9% y/y more value-added in January-September.
Other sectors boasted significant annual performances: construction generated 6.0% y/y more value added, hotels, restaurants and catering (HoReCa) 5.5% y/y more, IT and telecom 6.1% y/y more and financial/insurance services 7.5% y/y more. In contrast, the sectors of logistics (transport and storage) and real estate transactions lost ground.
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