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Pharmaceuticals, is heavily expanding, including building a factory in Romania scheduled for completion in 2023.
Metallurgy also posted a robust positive 12.4% y/y advance. This comes on top of significant advances in 2022. New steel company Omnisteel was set up in 2021 and in 2022 it already took over half of the capital of Laminorul Danube Metallurgical Enterprise (LDME), which owns and operates the steel pipe production unit in Romania.
In contrast, food manufacturing is losing ground (-11.5% y/y), but this is after a 24.5% y/y advance in 2022.
5.7.4 Major Sectors & Companies
The volume of construction works in Moldova (in comparable prices, chart) decreased by 3.7% y/y to MDL10.25bn (€528mn) in January-September 2023, according to the National Bureau of Statistics.
The volume of construction works in the first three quarters, in Moldova, roughly equals the works reported in the last quarter of the year.
Moldova’s construction sector contracted by 15% y/y in January-September 2022 and by 18% y/y in 2022.
By category of projects, the works on residential projects were 18.3% fewer y/y and accounted for 22.7% of the total.
The largest segment of the market, civil engineering (42.8% of the total), contracted by only 8.9% y/y.
The sole segment that gained momentum was that of non-residential buildings – offices, retail, industrial and logistics (31.1% of the total construction market in January-September) – where 19.1% more
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