Moldova GDP Shrinks for 2nd Quarter

The economy of Moldova contracted 1.3% year-on-year in the last quarter of 2024, following a 1.9% fall in the previous period.

Lower production was seen for agriculture, forestry and fishing (-3%), manufacturing (-0.5%) and construction (-0.3%) while on the consumption side, net trade (-6.9%) and government spending (-1%) made the biggest drags.

In contrast, production rose the most for real estate (1.1%), gross capital formation (4.7%) and household consumption (1.2%).

Compared to the previous quarter, the economy of Moldova expanded 0.1%, following a 3.1% plunge in Q3.

Considering full 2024, the economy edged up a meagre 0.1%, impacted by drought conditions and weak external demand, after a 1.2% growth in 2023.