Balance of payments went down 65% in 2005

The current account of the balance of payments of Moldova recorded in 2006 a deficit of USD 398.96 mln, deteriorating by 65.3% as compared to the previous year. According to preliminary data, the exports of goods and services totalled USD 1535.94 mln, while the imports amounted to USD 3132.83 mln. Thus, exports to imports ratio decreased by 6.4 percentage points, down to 49.0%. According to preliminary data, the exports of goods and services totalled USD 1535.94 mln, while the imports amounted to USD 3132.83 mln. Thus, exports to imports ratio decreased by 6.4 percentage points, down to 49.0%. The summary surplus of current transfers and income covered 75.0% of the external trade with goods and services deficit. The considerable increase in import prices of natural gas (from USD 80 to USD 110/1000 m3 – in the first half of the year, followed by another increase up to USD 160/1000 m3 – in the second half of the year) on the background of the embargo introduced by the Russian Federation on March 27, 2006 upon wines and other alcoholic beverages (the main export position of Moldova, the Russian Federation being the main outlet) generated the aggravation of the external sector imbalance of the national economy. As a result, the trade balance registered a deficit of USD 1590.90 million. The exports of goods registered in the balance of payments went down by 4.6%. 80.9% of exports went to 11 countries – Russia, Romania, Ukraine, Italy, Belarus, Germany, Poland, Great Britain, Kazahstan and France. The export of processed goods has increased by 25%. The agrialimentary products were the main exported goods, however going down 20.4%. In 2006, the import of goods registered in the balance of payments increased by 15.2% and reached USD 2644.38 mln.