Moldova’s GDP shrinks by 5.9% y/y in 2022

Moldova’s GDP shrinks by 5.9% y/y in 2022
/ bne IntelliNews
By bne IntelliNews March 16, 2023

In 2022, Moldova’s GDP contracted by 5.9% y/y to MDL273bn (€13.5bn), the statistics office announced.

In each of the last two quarters of the year, the annual decline was steeper than 10%.

In 2021, Moldova's economy soared by 13.9%, reversing the 8.3% plunge seen during the COVID-19 year 2020.

In 2022 as a whole, agriculture contracted by 26% in value-added terms, that manufacturing by 7.5% and construction by 10%.

Total domestic consumption declined by only 2.6% y/y and gross fixed capital formation by 6.8% y/y.

Net imports accounted for 23% of the total domestic demand for consumption and investments.