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 |