Moldovan industry begins new year at subdued level

Moldovan industry begins new year at subdued level
/ bne IntelliNews
By bne IntelIiNews April 24, 2023

The industrial output in Moldova remained at a subdued level in January-February, after the high energy prices closed down or reduced the activity in many factories across the country, particularly during the second half of 2022.

Thus, the overall industrial activity production contracted by 4.9% y/y in February, while the decline was twice as steep, -8.7% y/y, in manufacturing.

For the first two months of the year, the annual decline was 6.2% y/y (-7.2% y/y for manufacturing).

Food production contracted by 15.6% y/y in January-February, light industry marked negative growth rates of -2% to -8% while the chemicals industry plunged by 43% y/y.

In the second half of 2022, Moldova’s industrial output contracted by nearly 10% y/y for both overall output and the manufacturing sector.