The Moldovan economy advanced by 1.8 percent year-on-year in the first quarter of 2021, compared to a 3.3 percent decline in the last quarter of 2020. It was the first economic expansion since the first quarter of 2020, driven by fixed investment (14.2 percent vs -6.6 percent) and household consumption (2.8 percent vs -1.6 percent in Q4). Meanwhile, net trade contributed negatively to growth as exports fell (-12.3 percent) while imports rose (7.1 percent). On a seasonally adjusted quarterly basis, the GDP grew 2.5 percent, following an upwardly revised 3.3 percent rise in the previous period. source: National Bureau of Statistics of the Republic of Moldova

GDP Growth Rate in Moldova averaged 0.66 percent from 1995 until 2020, reaching an all time high of 5.30 percent in the first quarter of 2013 and a record low of -7.84 percent in the first quarter of 2009. This page provides the latest reported value for - Moldova GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Moldova GDP Growth Rate - values, historical data and charts - was last updated on July of 2021.

GDP Growth Rate in Moldova is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Moldova to stand at 1.10 in 12 months time. In the long-term, the Moldova GDP Growth Rate is projected to trend around 0.60 percent in 2022, according to our econometric models.

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Moldova GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.60 0.00 5.30 -7.84 1995 - 2020 percent Quarterly

Moldova GDP Last Previous Highest Lowest Unit
GDP Growth Rate 2.60 0.00 5.30 -7.84 percent [+]
GDP Annual Growth Rate 1.80 -3.30 12.90 -14.00 percent [+]
GDP 11.91 11.97 11.97 1.17 USD Billion [+]
Gross Fixed Capital Formation 10898830.00 11945675.00 19068440.00 381633.00 MDL Thousand [+]
GDP per capita 3513.60 3712.39 3712.39 656.21 USD [+]
GDP per capita PPP 12324.74 13022.00 13022.00 2619.76 USD [+]
GDP Constant Prices 52951573.90 199162184.20 199162184.20 4671646.00 MDL Thousand [+]

Moldova GDP Growth Rate
Moldova’s economy is dependent on remittances (around 24 percent of GDP) which mostly benefit construction and trade sectors. Historically, the largest industries in Moldova have been manufacturing industry, agriculture and food processing, textile, apparel and footwear while the ICT sector is a rather new and fast growing sector. On the expenditure side, household consumption is the main component of GDP and accounts for 94 percent of its total use, followed by gross fixed capital formation (23 percent) and government expenditure (18 percent). Exports of goods and services account for 43 percent while imports account for 81 percent, subtracting 37 percent of total GDP.