Moldova's economy has significantly transformed

Moldova's economy has significantly transformed in recent years, shifting from traditional sectors to more diversified industries.

In 2022, the country experienced a 5% economic contraction*. However, sectors such as Information and Communication Technology (ICT), manufacturing, and automotive industries emerged as significant contributors to the economy. This shift underscores a strategic diversification of the economy and a move towards more technologically advanced industries.

Key Economic Sectors👇

1️⃣ Agriculture
Historically, agriculture has been a cornerstone of Moldova's economy, producing large amounts of fresh and processed fruits and vegetables, walnuts, honey, meat, dairy products, and poultry.

2️⃣ Information and Communication Technology (ICT)
The ICT sector has seen substantial growth, contributing significantly to the country's GDP.

3️⃣ Manufacturing and Automotive Industries
The manufacturing sector, including automotive production, has become a cornerstone of Moldova’s economy, contributing approximately 13.5% to total exports in 2022.

Moldova's trade dynamics have evolved, with the European Union (EU) becoming its primary trading partner. In 2022, Moldova's exports to the EU reached USD 2.53 billion, accounting for 49.3% of total exports. Imports from the EU rose sharply to EUR 4.36 billion, led by mineral fuels and machinery**.

Other significant trading partners include Romania, Ukraine, China, Turkey, and Germany. Imports from these countries encompass mineral fuels, machinery, and chemicals.

Overall, Moldova's economy is transitioning towards a more diversified and technologically advanced structure, with the EU playing a pivotal role in its trade relations.

Nova Global provides businesses with dependable parcel shipping services to and from Moldova and is also exploring opportunities in E-commerce.

*Source: https://invest.gov.md/en/economic-overview-2/
**Source: https://invest.gov.md/en/trade-potential-2/