Moldova Economy: from the All Country Info reference guide to country facts

Moldova Economy

Moldova Economy: A summary of information about Moldova Economy, from government research data as well as independent research and other sources.

You are here:
All CountriesMoldova > Moldova Economy

Moldova: Economy

Economy - overview
Moldova enjoys a favorable climate and good
farmland but has no major mineral deposits. As a result, the economy
depends heavily on agriculture, featuring fruits, vegetables, wine,
and tobacco. Moldova must import all of its supplies of oil, coal, and
natural gas, largely from Russia. Energy shortages contributed to
sharp production declines after the breakup of the Soviet Union in
1991. As part of an ambitious reform effort, Moldova introduced a
stable convertible currency, freed all prices, stopped issuing
preferential credits to state enterprises, backed steady land
privatization, removed export controls, and freed interest rates. Yet
these efforts could not offset the impact of political and economic
difficulties, both internal and regional. In 1998, the economic
troubles of Russia, by far Moldova's leading trade partner, were a
major cause of the 8.6% drop in GDP; the value of the currency in
relation to the dollar fell by half. In 1999, GDP fell again, by 4.4%,
the fifth drop in the past six years; exports were down, and energy
supplies continued erratic. GDP is expected to remain at about the
same level in 2000.
GDP
purchasing power parity - $9.7 billion (1999 est.)
GDP - real growth rate
-4.4% (1999 est.)
GDP - per capita
purchasing power parity - $2,200 (1999 est.)
GDP - composition by sector
agriculture: 31%
industry: 35%
services: 34% (1998)
Population below poverty line
75% (1999 est.)
Household income or consumption by percentage share
lowest 10%: 2.7%
highest 10%: 25.8% (1992)
Inflation rate (consumer prices)
38% (1999 est.)
Labor force
1.7 million (1998)
Labor force - by occupation
agriculture 40.2%, industry 14.3%, other
45.5% (1998)
Unemployment rate
2% (includes only officially registered unemployed;
large numbers of underemployed workers) (September 1998)
Budget
revenues: $536 million
expenditures: $594 million, including capital expenditures of $NA
(1998 est.)
Industries
food processing, agricultural machinery, foundry
equipment, refrigerators and freezers, washing machines, hosiery,
sugar, vegetable oil, shoes, textiles
Industrial production growth rate
-10% (1999 est.)
Electricity - production
5.661 billion kWh (1998)
Electricity - production by source
fossil fuel: 93%
hydro: 7%
nuclear: 0%
other: 0% (1998)
Electricity - consumption
7.065 billion kWh (1998)
Electricity - exports
0 kWh (1998)
Electricity - imports
1.8 billion kWh (1998)
Agriculture - products
vegetables, fruits, wine, grain, sugar beets,
sunflower seed, tobacco; beef, milk
Exports
$470 million (f.o.b., 1999)
Exports - commodities
foodstuffs, wine, and tobacco 66%; textiles and
footwear, machinery (1998)
Exports - partners
Russia 53%, Romania 10%, Ukraine 8%, Germany 5%,
Belarus 4% (1998)
Imports
$560 million (f.o.b., 1999)
Imports - commodities
mineral products and fuel 31%, machinery and
equipment, chemicals, textiles (1998)
Imports - partners
Russia 22%, Ukraine 16%, Romania 12%, Belarus 9%,
Germany 5% (1998)
Debt - external
$1.3 billion (December 1999)
Economic aid - recipient
$100.8 million (1995); note - $547 million
from the IMF and World Bank (1992-99)
Currency
Moldovan leu (MLD) (plural lei)
Exchange rates
lei (MLD) per US$1 (end of year) - 12.1408 (January
2000), 10.5158 (1999), 5.3707 (1998), 4.6236 (1997), 4.6045 (1996),
4.4958 (1995)
Fiscal year
calendar year
Locations:
Home
Afghanistan
Albania
Algeria
American Samoa
Andorra
Angola
Anguilla
Antarctica
Antigua & Barbuda
Arctic Ocean
Argentina
Armenia
Aruba
Ashmore & Cartier Islands
Atlantic Ocean
Australia
Austria
Azerbaijan
Bahrain
Baker Island
Bangladesh
Barbados
Bassas Da India
Belarus
Belgium
Belize
Benin
Bermuda
Bhutan
Bolivia
Bosnia & Herzegovina
Botswana
Bouvet Island
Brazil
British Indian Ocean Territory
British Virgin Islands
Brunei
Bulgaria
Burkina Faso
Burma
Burundi
Cambodia
Cameroon
Canada
Cape Verde
Cayman Islands
Central African Republic
Chad
Chile
China
Christmas Island
Clipperton Island
Colombia
Comoros
Cook Islands
Coral Sea Islands
Costa Rica
Croatia
Cuba
Cyprus
Czech Republic
Denmark
Djibouti
Dominica
Dominican Republic
Ecuador
Egypt
El Salvador
Equatorial Guinea
Eritrea
Estonia
Ethiopia
Europa Island
Faroe Islands
Fiji
Finland
France
French Guiana
French Polynesia
Gabon
Gaza Strip
Georgia
Germany
Ghana
Gibraltar
Glorioso Islands
Greece
Greenland
Grenada
Guadeloupe
Guam
Guatemala
Guernsey
Guinea
Guyana
Haiti
Honduras
Hong Kong
Howland Island
Hungary
Iceland
India
Indian Ocean
Indonesia
Iran
Iraq
Ireland
Israel
Italy
Jamaica
Jan Mayen
Japan
Jarvis Island
Jersey
Johnston Atoll
Jordan
Juan De Nova Island
Kazakhstan
Kenya
Kingman Reef
Kiribati
Korea
Kuwait
Kyrgyzstan
Laos
Latvia
Lebanon
Lesotho
Liberia
Libya
Liechtenstein
Lithuania
Luxembourg
Macau
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Marshall Islands
Martinique
Mauritania
Mauritius
Mayotte
Mexico
Midway Islands
Moldova
Monaco
Mongolia
Montserrat
Morocco
Mozambique
Namibia
Nauru
Navassa Island
Netherlands
Netherlands Antilles
New Caledonia
New Zealand
Nicaragua
Niger
Nigeria
Niue
Norfolk Island
Northern Mariana Islands
Norway
Oman
Pacific Ocean
Pakistan
Palau
Palmyra Atoll
Panama
Papua New Guinea
Paracel Islands
Paraguay
Peru
Philippines
Pitcairn Islands
Poland
Portugal
Puerto Rico
Qatar
Reunion
Romania
Rwanda
Saint Helena
Saint Kitts & Nevis
Saint Lucia
Saint Pierre & Miquelon
Saint Vincent & The Grenadines
San Marino
Sao Tome & Principe
Saudi Arabia
Senegal
Serbia & Montenegro
Seychelles
Sierra Leone
Singapore
Slovakia
Solomon Islands
Somalia
South Africa
Southern Ocean
Spain
Spratly Islands
Sri Lanka
Sudan
Suriname
Svalbard
Swaziland
Sweden
Switzerland
Syria
Taiwan
Tajikistan
Tanzania
Thailand
Togo
Tokelau
Tonga
Trinidad & Tobago
Tromelin Island
Tunisia
Turkey
Turkmenistan
Turks & Caicos Islands
Tuvalu
Uganda
Ukraine
United Arab Emirates
United Kingdom
United States
Uruguay
Uzbekistan
Vanuatu
Venezuela
Vietnam
Virgin Islands
Wake Island
Wallis & Futuna
West Bank
Western Sahara
World
Yemen
Zambia
Zimbabwe