Southeast Europe / Data
Moldova’s industrial activity shrank by 3.6% y/y in 2023
Moldova's industrial facilities had to reduce operations dramatically in the winter of 2022-23, as natural gas resources were limited and costly.
CEE losing competitiveness because of soaring wages and weak productivity growth
Unit labour costs have surged by 25% since 2020 – something not seen since the early 2000s, says Capital Economics
Moldova's trade balance narrowed by 8.5% y/y to 27% of GDP in 2023
Both imports and exports contracted in 2023.
Clear east-west divide in EU for gender balance in science and engineering
Female employment in science and engineering is well above 50% in multiple regions of Central and Southeast Europe, Eurostat figures show.
Romania’s industrial output shrinks by 4.9% in 2023
Industrial activity has deteriorated in Romania, with the overall industrial output index (chart) contracting by 4.9% y/y in 2023 according to data published by the statistics office INS. Romanian industry has been losing ground since before COVID.
Romanian central bank keeps policy rate at 7%
BNR expects steady disinflation after headline inflation dropped from a peak of 16.8% y/y in November 2022 to 6.6% y/y in December 2023.
Romania’s trade gap narrows by 15% y/y to 9.1% of GDP in 2023
Romania’s trade deficit (chart) narrowed by 15% year on year to €28.9bn in 2023 and the gap-to-GDP ratio narrowed from 11.9% in 2022 (the widest value in the past decade) to 9.1% in 2023 (preliminary bne IntelliNews estimate).
Turkey’s new central bank chief rules out more rate hikes in near term
At first press conference as governor, Fatih Karahan also states regulator is committed to a floating exchange rate. Yet it is clear that the authority intervenes.