Moldovan exports to EU on the rise

The more drastic reduction in the GDP and consumption in the Commonwealth of Independent States (CIS) determined an increase in Moldovan exports to the EU market, economic analyst of the Independent Analytical Center Expert – Grup Alex Oprunenco said, quoted by Info-Prim Neo. The EU is the major destination for the goods exported from Moldova. At the end of 2008, the exports to the EU made up 52.1%, while in the first half of this year - 54%, Oprunenco said. The share of the exports to the CIS fell from 39.4% to 26.23%. “The Moldovan exports to the EU increased, but decreased simultaneously to Romanian, which was the main destination until recently. The exports to Romania fell from 21.1% to 20.2%. This is also due to the worsening of the relations between the two countries, including after Moldova introduced a visa regime form Romanian travelers,” the expert said. According to Alex Oprunenco, the situation in the economies of the trade partners is determining for the further development of the Moldovan export. Despite optimistic forecasts, the exports will not see a boost if profound structural reforms are not implemented and the competitiveness of the goods is not improved, even if the May-June exports rose slightly (about 7% in June). The expert also said that for the first time this year, the imports increased by 6.9% in June. But the half-year exports fell by 41.4%. The imports from the EU declined by 39.3%, while those from the CIS by 32.4%, and continue to depend on the global economic developments.