Moldova’s industry gains momentum in Q3

Moldova’s industry gains momentum in Q3
By bne IntelliNews November 21, 2019

Moldova’s industrial output increased by 9.3% y/y in Q3, driven by the 10.9% y/y advance of the core manufacturing industries, after the negative annual performance posted in Q2 (-2.2% y/y), the statistics bureau BNS informed.

Moldova’s industry performed rather modestly at the beginning of this year, after posting rather robust 3%-4% annual growth rates in 2017-2018.

The seasonally adjusted industrial output data particularly gained momentum compared to the past four years; during June-September the index increased by 5.6%, at an annualised rate of nearly 18%.

In January-September, the gross industrial production advanced by only 2.7% y/y. The best performing sectors were those of rubber and plastic products manufacturing (+21% y/y), metallic products manufacturing (+16% y/y), construction of cars and tows (+44% y/y) and pharmaceutical products manufacturing (+11% y/y). Manufacturing of textile and clothing contracted by 10% y/y while the processing of fur and leather plunged by 20% y/y.

Industrial Production y/y 2013 2014 2015 2016 2017 2018 Q1 19 Q2 19 Q3 19
TOTAL 8.6% 7.3% 0.7% 0.9% 3.5% 3.8% 0.9% -2.2% 9.3%
Mining, quarrying 22.3% 0.2% -9.2% -15.5% -4.4% 11.2% 164.7% -19.8% -14.5%
Manufacturing 10.7% 8.5% 2.3% 1.8% 4.6% 2.8% 4.1% -2.9% 10.9%
Utilities -4.3% 4.4% 1.0% -0.9% -1.3% 7.8% -17.3% 16.4% -1.6%
Source: BNS                  

 

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