Moldova’s exports of goods in January – May 2017 came to over US$850 million, an increase of about 15% compared with the corresponding period last year. According to the Ministry of Economy, such a development is due to the increase in external demand that led to a rise in exports, but also to a decline in the price per unit, IPN reports.

Over 63% of the exports were directed to the European Union. These came to US$540 million. Exports to the CIS states represented about 20% of the exports and added up to US$180 million.

In the period, imports totaled US$ 1.8 billion, by over 16% higher than in the same period of 2016. Imports from the EU member states came to US$880 million, which is 49% of all the imports. Imports from the CIS member states amounted to over US$ 450 million, making up over 25% of all imports.

The rise in imports was mainly due to the larger imported volumes of oil products, electric power, medicinal and pharmaceutical products, clothing, vehicles and electrical devices, etc.

The fact that Moldova benefits from a series of commercial regimes, both with the Eastern states and the Eurasian states, is an important factor that led to larger imports and exports. Thus, based on these agreements, about 80% of Moldova’s commercial exchanges take place under the free trade regime.

Moldova is also negotiating new bilateral free trade agreements with China, Egypt, India and the EFTA states (Iceland, Liechtenstein, Norway, and Switzerland). These subsequent perspectives will extend access to markets with a potential of about 900 million consumers, offering new export opportunities for national producers.