Germany fifth among Moldova’s top trade partners

The amount of trade between Moldova and Germany between January and May 2012 was of $189.1 million. Thus, Germany is Moldova’s fifth most important commercial partner, Info-Prim Neo reports. According to data from the Ministry of Economy, compared to the same period of the last year, the volume of trade increased only slightly, by 0.5%. The volume of goods exported in the first 5 months of the year is estimated at $27.2 million, which is 32.4% less than in the same months last year. Germany is 8th among Moldova’s export partners and is the destination of 3.2% of Moldovan exports. Meanwhile, the imports from Germany in January-May 2012 reached $161.4 million, marking a growth of 9.7% since 2011. Germany ranks 4th among Moldova’s import partners and is the source of 7.8% of Moldovan imports. Thus, the trade balance is $133.7 million in Germany’s favor. According to the trade balance deficit, Germany ranks 3rd among the countries Moldova trades with. The first economic agreement between Moldova and Germany was signed in 1981 and the last one in 2008. According to the National Bureau of Statistics, there are 168 companies with German capital in Moldova. The volume of German investments in Moldova was 2 billion lei as of October 1, 2011, which accounts for 8.7% of all foreign investments in Moldova.