Last year Moldova’s current account deficit increased substantially both in absolute value and related to GDP. The deficit was $1.59B, or 78.2% larger than last year. Related to GDP, the deficit increased to -11.6%.
The National Bank ascribes this to a considerable increase in the deficit of foreign trade in goods (+ 35.4% compared to 2020) and a decrease in the surplus of primary revenues, while the balances of secondary revenues and services were improved.
The deficit of trade in goods increased during 2021 by 35.4% and amounted to $4.19B. This development was caused by a sharper increase in imports of goods (+ 34%, to $ 6.75B) compared to exports (+31.8%, to $2.56B).
