Moldova’s industrial production index (chart) increased by 11.7% year-on-year in May, with the manufacturing segment recording a 12.5% annual rise — the highest level in the past ten months, the National Bureau of Statistics announced on July 21.

The May results show a significant recovery for the sector, which contracted sharply in late 2024. In the fourth quarter, total industrial production fell by 5.4% year-on-year, while manufacturing declined by 14.9%. A modest rebound followed in the first quarter of 2025, although year-on-year figures remained negative. April saw slight improvement, mainly driven by the utilities segment, with May bringing the first robust gains across key manufacturing categories.

Despite the strong May performance, industrial output remains below last year’s levels on a 12-month rolling basis. Cumulative data show a -0.7% year-on-year decline for overall industrial production and a -4.7% drop for manufacturing over the 12 months ending in May.

Performance among individual industries remains uneven, reflecting continued volatility in the country’s fragile industrial base. The production of pharmaceutical goods increased by 9.6% year-on-year in May, reversing a 12% contraction in April. The sector had previously surged by 34% in March. Over the past 12 months, pharmaceutical production rose by 3.4%.

Food manufacturing continued to struggle due to weak activity in sunflower seed processing, posting a 2.6% year-on-year decline in May. For the 12-month period ending in May, the sector recorded a 19.4% decrease.

In contrast, the production of computers, electronic and optical devices surged by 66% year-on-year in May, bolstering its status as one of Moldova’s fastest-growing industrial branches. Over the 12-month period, the sector grew by 16.8%. Output now exceeds 140% of the average 2010 production level — up from 70% in 2019 and 60% in 2020.