Moldova’s exports this May came to US$416 million, which is an absolute record for the Republic of Moldova. In annual value, exprots totaled US$3.9 billion lei, up 50% or US$1.3 billion compared with the corresponding period last year, when they added up to only US$2.6 billion, being negatively influenced by COVID-19, economic expert Veaceslav Ioniță noted in a press release that is quoted by IPN.
According to the expert, the unprecedented rise in exports is due to three basic factors. The first factor is the increase in the exports of agricultural products that in 2021 saw an unprecedented growth in the country’s history. This growth has been witnessed since last October.
The second factor is the agricultural production from the left side of the Nistru, which is exported as production of the Republic of Moldova. “This phenomenon has expanded the past few years also owing to the policy to secure the borders pursued by Ukraine,” stated Veaceslav Ioniță.
The re-export of production from Ukraine is the third factor that contributed to a record increase in Moldova’s exports. “Together with the start of the war in Ukraine, a considerable part of goods started to be exported via Moldova. But particular insignificant quantities not only transit Moldova, but are also imported and then re-exported,” he stated.
According to the economic expert, in annual value the exports not only grew by 50% compared with the corresponding period last year, but also hit a record level for Moldova, of US$3.9 billion. Veaceslav Ioniță warns that if Moldova does not place obstacles to business entities from the left side of the Nistru and pursues an active policy to integrate them into the common national space, Moldova’s exports this year can easily reach US$4.5 billion.
