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2.6.2 Industrial production
For the 12 months to September, Moldova’s industrial output increased by 1.0% y/y. This represents a modest recovery after the 7.2% y/y contraction seen in the previous 12-month period, under the impact of the war in Ukraine.
Notably, Moldova’s industrial activity remains below the level reached in 2019 before the COVID-19 crisis.
Industrial output recovered at robust rates in 2021 after subdued activity during the COVID-19 period, prompting hopes for rapid economic growth. But the higher natural gas prices in the winter of 2021 to 2022, and later the war in Ukraine, put an end to the short-lived economic recovery. The positive growth in 2024 is merely a correction after the steep plunge prompted by the war.
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