Moldova’s trade deficit in goods (chart) widened by 37% year on year in the second quarter to almost $1.8bn, according to data published by the National Bureau of Statistics (BNS). The deterioration was driven by an 18.8% rise in imports, which reached $2.57bn, while exports contracted by 8.1% to $790mn.

The second-quarter dynamics were broadly similar to the first quarter, when the trade gap expanded by 40% year on year to more than $1.7bn.

In the first half of 2025, Moldova’s imports totalled $5.1bn, up 18.6% compared to the same period of 2024, fuelled primarily by energy purchases. Imports of mineral fuels rose by 48% to $1.1bn, while all other major categories also recorded double-digit increases. Food imports grew by 21%, tobacco and beverages by 10%, raw materials by 14% and machinery and transport equipment by 12%.

By contrast, exports fell 10% year on year in the first half to $1.6bn, reflecting weaker foreign demand for key Moldovan products. Food exports posted a steep 23% decline, totalling $334mn. The export of vegetable oils shrank by 71% to $24mn, offsetting gains in oilseed exports, which rose 24% to $187mn.

The widening trade gap continues to weigh on Moldova’s balance of payments and adds pressure to the current account deficit, already elevated due to high import dependency. BNS data showed that while imports are broad-based across categories, the energy bill remains the most significant driver of the deficit.

Exports, traditionally concentrated in agricultural products and food processing, were affected by weaker harvests, falling commodity prices and reduced demand in regional markets. The decline highlights Moldova’s structural vulnerabilities in external trade, particularly its reliance on a narrow set of products and volatile energy imports.