Half-year GDP dropped 7.8%

The Gross Domestic Product (GDP) of Moldova in the six months to June fell by 7.8% compared with the corresponding period last year, Info-Prim Neo reports, quoting the National Bureau of Statistics. According to the Bureau, the fall was determined by the decline in the major economic indicators. The indicators in industry dropped by 24.9%, in constructions – by 31.9%, in retail trade – by 4.5%. Exports fell by 20.7%, while imports by 35.8%. The gross value added indicator decreased from 105.0% in the first half of 2008 to 93.0% in the same period this year. The gross value added in the manufacturing sector declined by 16.7% after the gross value added in industry fell by 24.4%. This value in agriculture, hunting and forestry, fishing and fish breeding was by 2.1% higher than in the first half of last year. By its contribution to the formation of the GDP, the gross value added in the manufacturing sector fell by 1.0%. The gross value added in the service sector decreased by 3.4%. The volume of works in the construction sector fell by 26.5%, in the transport and communications sector – by 16.2%, in wholesale and retail trade – by 3.9%. The volume of taxes on products collected into the national public budget declined by 15.1%, influencing negatively (-2.8%) the volume indicator of the GDP. The internal demand – the final consumption and gross capital formation - in the first half of this year fell by 19.2%, mainly due to the 36.7% decrease in the gross fixed capital formation and the 8.2% decrease in final consumption. The exports and imports of goods and services dropped by 12.5% and, respectively, 27.7%.

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