Editing Economy of Moldova

{{Short description|none}}
{{Infobox economy
| country = Moldova
| image = File: AIRM - Main office of Poșta Moldovei - aug 2015.jpg
| caption = The International Business Centre Skytower in [[Chișinău]]
| currency = [[Moldovan leu]] (MDL)
| fixed exchange = 
| year = Calendar year
| organs = [[WTO]], [[GUAM]], [[CEFTA]], [[Organization of the Black Sea Economic Cooperation|BSEC]], [[Commonwealth of Independent States Free Trade Area|CISFTA]], [[Eurasian Economic Union|EAEU]] (observer)
| group = {{plainlist|
*[[Developing country|Developing/Emerging]]<ref name="WEOEMDE2022">{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2022/April/select-countries?grp=2903&sg=All-countries/Emerging-market-and-developing-economies/Emerging-and-developing-Europe |title=World Economic Outlook Database, April 2022. Emerging market and developing economies. Emerging and developing Europe (16 countries) |publisher=[[International Monetary Fund]] |website=IMF.org |access-date=16 August 2022 |archive-date=6 May 2022 |archive-url=https://web.archive.org/web/20220506140144/https://www.imf.org/en/Publications/WEO/weo-database/2022/April/select-countries?grp=2903&sg=All-countries/Emerging-market-and-developing-economies/Emerging-and-developing-Europe |url-status=live }}</ref>
*Upper-middle income economy<ref name="WBCLG">{{cite web |url=https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |title=World Bank Country and Lending Groups |publisher=[[World Bank]] |website=datahelpdesk.worldbank.org |access-date=16 August 2022 |archive-date=28 October 2019 |archive-url=https://web.archive.org/web/20191028223324/https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |url-status=live }}</ref>
*Eastern European economy; sizable remittances; emigration<ref>{{cite CIA World Factbook |country=Moldova |year=2024}}</ref>}}
| population = {{decrease}} 3.33 million (2024 est)<ref name="IMFWEOMD"/>
| gdp = {{plainlist|
*{{increase}} $19.65 billion (nominal, 2025 est.)<ref name="IMFWEOMD"/>
*{{increase}} $47.93 billion ([[Purchasing power parity|PPP]], 2025 est.)<ref name="IMFWEOMD">{{cite web |url=https://www.imf.org/external/datamapper/profile/MDA |title=IMF DataMapper: Moldova |publisher=[[International Monetary Fund]] |website=IMF.org }}</ref>}}
| gdp rank = {{plainlist|
*[[List of countries by GDP (nominal)|144th (nominal, 2022)]]
*[[List of countries by GDP (PPP)|129th (PPP, 2022)]]}}
| growth = {{plainlist|
*1.0% (2023)
*2.6% (2024)
*4.8% (2025)<ref name="IMFWEOMD"/>}}
| per capita = {{plainlist|
*{{increase}} $8,160 (nominal, 2025 est.)<ref name="IMFWEOMD"/>
*{{increase}} $19,910 ([[Purchasing power parity|PPP]], 2025 est.)<ref name="IMFWEOMD"/>}}
| per capita rank = {{plainlist|
*[[List of countries by GDP (nominal) per capita|111th (nominal, 2024)]]
*[[List of countries by GDP (PPP) per capita|91st (PPP, 2022)]]}}
| cpi = {{increase}} 42 out of 100 points (2023)<ref name="ti_2023">{{cite web |url=https://www.transparency.org/en/cpi/2023 |date=30 January 2024 |title=Corruption Perceptions Index |website=[[Transparency International]] |access-date=15 July 2024 |archive-date=30 January 2024 |archive-url=https://web.archive.org/web/20240130062042/https://www.transparency.org/en/cpi/2023 |url-status=live }}</ref> ([[Corruption Perceptions Index#Ranking over Time|76th]])
| sectors = {{plainlist|
*[[Primary sector of the economy|agriculture]]: 8.29%
*[[Secondary sector of the economy|industry]]: 19.42%
*[[Tertiary sector of the economy|services]]: 58.37% 
*(2022)<ref>{{cite web |url=https://www.statista.com/statistics/513314/moldova-gdp-distribution-across-economic-sectors/ |title=Moldova: Distribution of gross domestic product (GDP) across economic sectors from 2011 to 2022 |publisher=[[Statista]] |website=statista.com |quote=In 2021, agriculture contributed around 10.39 percent to the GDP of Moldova, 20.61 percent came from the industry and 54.85 percent from the services sector. |language=en |date=Sep 8, 2022 |accessdate=Mar 28, 2024 |archive-date=March 28, 2024 |archive-url=https://web.archive.org/web/20240328124245/https://www.statista.com/statistics/513314/moldova-gdp-distribution-across-economic-sectors/ |url-status=live }}</ref>}}
| components = 
| inflation = {{plainlist|
*13.4% (2023)
*5.0% (2024)
*5.0% (2025)<ref name="IMFWEOMD"/>}}
| poverty = {{plainlist|
*{{increaseNegative}} 26.8% (2020)<ref name="PovertyLine">{{cite web|url=https://data.worldbank.org/indicator/SI.POV.NAHC?locations=MD|title=Poverty headcount ratio at national poverty lines (% of population)|publisher=[[World Bank]]|access-date=16 August 2022|archive-date=19 August 2022|archive-url=https://web.archive.org/web/20220819103615/https://data.worldbank.org/indicator/SI.POV.NAHC?locations=MD|url-status=live}}</ref>
*14% on less than $6.85/day (2021)<ref>{{cite web |url=https://data.worldbank.org/indicator/SI.POV.UMIC?locations=MD |title=Poverty headcount ratio at $6.85 a day (2017 PPP) (% of population) - Moldova |publisher=World Bank}}</ref>}}
| gini = {{increaseNegative}} 26.0 {{color|green|low}} (2019)<ref>{{cite web |url=https://data.worldbank.org/indicator/SI.POV.GINI?locations=MD |title=Gini index - Moldova |publisher=[[World Bank]] |website=data.worldbank.org |access-date=16 August 2022 |archive-date=25 April 2020 |archive-url=https://web.archive.org/web/20200425182339/https://data.worldbank.org/indicator/SI.POV.GINI?locations=MD |url-status=live }}</ref>
| hdi = {{plainlist|
*{{decrease}} 0.763 {{color|green|high}} [[List of countries by Human Development Index|HDI (86th)]] (2022)<ref name="HDRMDA">{{cite journal |url=https://hdr.undp.org/data-center/specific-country-data#/countries/MDA |title=Human Development Reports: Moldova (Republic of) |publisher=[[Human Development Report|HDRO (Human Development Report Office)]] [[United Nations Development Programme]] |journal=Human Development Reports |access-date=13 September 2022 |archive-date=12 August 2022 |archive-url=https://web.archive.org/web/20220812054834/https://hdr.undp.org/data-center/specific-country-data#/countries/MDA |url-status=live }}</ref>
*{{decrease}} 0.698 {{color|darkorange|medium}} [[List of countries by inequality-adjusted HDI|IHDI (58th)]] (2022)<ref name="HDRMDA"/>}}
| labor = {{plainlist|
* {{increase}} 900.4 thousand (Q2, 2022)<ref name="BNSFM">{{cite web |url=https://statistica.gov.md/category.php?l=ro&idc=107 |title=Biroul Național de Statistică al Republicii Moldova. Forţa de muncă |publisher=[[National Bureau of Statistics of the Republic of Moldova]] |website=statistica.gov.md |language=ro |access-date=15 Oct 2022 |archive-date=29 May 2022 |archive-url=https://web.archive.org/web/20220529222329/https://statistica.gov.md/category.php?l=ro&idc=107 |url-status=live }}</ref>
* {{increase}} 41.3% employment rate (Q2, 2022)<ref name="BNSFM"/>}}
| occupations = {{plainlist|
*[[Primary sector of the economy|agriculture]]: 22.9%
*[[Secondary sector of the economy|industry and construction]]: 22% 
*[[Tertiary sector of the economy|services]]: 55.1%
*(Q2, 2022)<ref>{{cite web |url=https://statistica.gov.md/newsview.php?l=ro&idc=168&id=7527 |archive-url=https://web.archive.org/web/20220904113748/https://statistica.gov.md/newsview.php?l=ro&id=7527&idc=168 |url-status=dead |archive-date=September 4, 2022 |title=Forța de muncă în Republica Moldova: ocuparea și șomajul în trimestrul II 2022 |publisher=[[National Bureau of Statistics of the Republic of Moldova]] |website=statistica.gov.md |language=ro |date=2 Sep 2022 |access-date=15 Oct 2022 }}</ref>}}
| unemployment = {{plainlist|
*{{decreasePositive}} 2.4% (Q2, 2022)<ref name="BNSFM"/>
*{{decreasePositive}} 21.6 thousand unemployed (Q2, 2022)<ref name="BNSFM"/>}}
| average gross salary = [[List of European countries by average wage|MDL 14,116.8 / €732 / $752]] monthly (Q3, 2024)<ref name="CSM">{{cite web |url=https://statistica.gov.md/ro/statistic_indicator_details/2 |title=Banca de date statistice Moldova / Câştigul salarial mediu lunar brut |publisher=[[National Bureau of Statistics of the Republic of Moldova]] |website=statbank.statistica.md |language=ro |access-date=9 Feb 2025 |archive-date=18 May 2023 |archive-url=https://web.archive.org/web/20230518133243/https://statistica.gov.md/ro/statistic_indicator_details/2 |url-status=live }}</ref>
| average net salary = [[List of European countries by average wage|MDL 11,304.74 / €585 / $602]] monthly (Q3, 2024)<ref>{{cite web |url=https://salarii.md/ |title=Calculator salarii brut – net – total 2022 |website=Salarii.md |language=ro |access-date=9 Feb 2025 |archive-date=5 January 2018 |archive-url=https://web.archive.org/web/20180105171625/https://salarii.md/ |url-status=live }}</ref><ref>{{Cite web |url=https://www.worldforexrates.com/mdl/eur/8309-exchange-rate/ |title=11,304.74 MDL to EUR - Convert Moldovan Lei to Euros |date=2025-02-09 |website=WorldForexRates |language=en |access-date=2025-02-09 |archive-date=2022-09-24 |archive-url=https://web.archive.org/web/20220924152300/https://www.worldforexrates.com/mdl/eur/8309-exchange-rate/ |url-status=live }}</ref><ref>{{Cite web |url=https://www.xe.com/currencyconverter/convert/?Amount=11304&From=MDL&To=USD |title=11,304.74 MDL to USD - Convert Moldovan Lei to US Dollars |date=2025-02-09 |website=WorldForexRates |language=en |access-date=2025-02-09 |archive-date=2023-05-18 |archive-url=https://web.archive.org/web/20230518133241/https://www.xe.com/currencyconverter/convert/?Amount=11304&From=MDL&To=USD |url-status=live }}</ref>
| edbr = {{decrease}} [[Ease of doing business index#Ranking|48th ({{color|#00b140|very easy}}, 2020)]]<ref>{{cite web |url=https://openknowledge.worldbank.org/bitstream/handle/10986/32436/9781464814402.pdf |title=Doing Business 2020, report |pages=16 |publisher=[[The World Bank]] |website=openknowledge.worldbank.org |access-date=16 August 2022 |archive-date=24 October 2019 |archive-url=https://web.archive.org/web/20191024044258/https://openknowledge.worldbank.org/bitstream/handle/10986/32436/9781464814402.pdf |url-status=live }}</ref>
| industries = [[Food processing]], [[agricultural machinery]]; [[foundry]] equipment, [[refrigerators]] and freezers, [[washing machines]]; [[hosiery]], [[shoes]], [[textiles]], [[sugar]] processing, [[vegetable oil]].<ref name="CIAWFMD">{{cite web |url=https://www.cia.gov/the-world-factbook/countries/moldova/ |title=The World Factbook |publisher=[[Central Intelligence Agency]] |website=CIA.gov |access-date=16 August 2022 |archive-date=5 January 2021 |archive-url=https://web.archive.org/web/20210105015457/https://www.cia.gov/the-world-factbook/countries/moldova/ |url-status=live }}</ref>
| exports = {{plainlist|
* {{decrease}} $4.048 billion (2023)<ref name="EXPRM">{{cite web |url=https://statbank.statistica.md/PxWeb/pxweb/ro/40%20Statistica%20economica/40%20Statistica%20economica__21%20EXT__EXT010__serii%20anuale/EXT010200.px/table/tableViewLayout2/?rxid=b2ff27d7-0b96-43c9-934b-42e1a2a9a774 |title=Exporturile Republicii Moldova, structurate pe tari si grupe de tari, 1997-2023 |publisher=[[National Bureau of Statistics of the Republic of Moldova]] |website=statbank.statistica.md |language=ro |access-date=21 November 2024}}</ref>
* {{increase}} $4.332 billion (2022)<ref name="EXPRM"/>
* {{increase}} $3.144 billion (2021)<ref name="EXPRM"/>}}
| export-goods = [[Cereals]] and [[Flour|cereal-based products]]; [[seeds]] and [[Oil|oleaginous]] fruits; [[Electric machinery|electrical machines]], [[Home appliance|appliances]] and parts thereof; [[Vegetable oil|vegetable fats and oils]] − fixed, crude, [[Refining|refined]] or [[Fractional distillation|fractionated]]; [[vegetables]] and [[fruits]]; [[clothing]] and [[Fashion accessory|accessories]]; [[furniture]] and parts thereof; [[Alcoholic drink|alcoholic]] and [[Non-alcoholic drink|non-alcoholic]] beverages; [[yarns]], [[Textile|fabrics, textiles]] and related products; [[Car classification|road vehicles]]; Others.<ref name="CIAWFMD"/><ref>{{cite web |url=https://www.g4media.ro/republica-moldova-tot-mai-legata-de-exporturile-marfurilor-in-ue-romania-e-destinatie-principala-rusia-in-scadere-abrupta.html |title=Republica Moldova, tot mai legată de exporturile mărfurilor în UE. România e destinație principală, Rusia în scădere abruptă |website=[[G4 Media (website)|G4 Media]] |language=ro |date=17 May 2022 |accessdate=17 August 2022 |archive-date=17 August 2022 |archive-url=https://web.archive.org/web/20220817000452/https://www.g4media.ro/republica-moldova-tot-mai-legata-de-exporturile-marfurilor-in-ue-romania-e-destinatie-principala-rusia-in-scadere-abrupta.html |url-status=live }}</ref><ref>{{cite web |url=https://oec.world/en/visualize/tree_map/hs92/export/mda/all/show/2020/ |title=What does Moldova export? (2020) |publisher=[[The Observatory of Economic Complexity]] |website=oec.world |language=en |accessdate=17 August 2022 |archive-date=17 August 2022 |archive-url=https://web.archive.org/web/20220817000049/https://oec.world/en/visualize/tree_map/hs92/export/mda/all/show/2020/ |url-status=live }}</ref>
| export-partners = {{plainlist|
*{{flag|Romania}} 35.1%
*{{flag|Ukraine}} 14.7%
*{{flag|Italy}} 6.4%
*{{flag|Germany}} 5.5%
*{{flag|Czech Republic}} 4.0%
*{{flag|Russia}} 3.6%
*{{flag|Turkey}} 3.5%
*{{flag|Poland}} 3.3%
*{{flag|Bulgaria}} 2.1%
*{{flag|Belarus}} 2.1% (2023)<ref name="MDExportImport2023">{{cite web |url=https://statistica.gov.md/ro/comertul-international-cu-marfuri-al-republicii-moldova-in-luna-decembrie-2023-s-9539_60951.html |title=Comerțul internațional cu mărfuri al Republicii Moldova în luna decembrie 2023 și în anul 2023 pe ansamblu |publisher=[[National Bureau of Statistics of the Republic of Moldova]] |website=statistica.gov.md |language=ro |accessdate=21 November 2024}}</ref>}}
| imports = {{plainlist|
* {{decrease}} $8.675 billion (2023)<ref name="IMPRM">{{cite web |url=https://statbank.statistica.md/PxWeb/pxweb/ro/40%20Statistica%20economica/40%20Statistica%20economica__21%20EXT__EXT010__serii%20anuale/EXT010300.px/table/tableViewLayout1/?rxid=b2ff27d7-0b96-43c9-934b-42e1a2a9a774 |title=Importurile Republicii Moldova, structurate pe tari si grupe de tari, 1997-2021 |publisher=[[National Bureau of Statistics of the Republic of Moldova]] |website=statbank.statistica.md |language=ro |access-date=21 November 2024}}</ref>
* {{increase}} $9.218 billion (2022)<ref name="IMPRM"/>
* {{increase}} $7.176 billion (2011)<ref name="IMPRM"/>}}
| import-goods = [[Refining|Refined]] [[petroleum]] and [[oils]] obtained from [[Oil sands|bituminous minerals]]; [[Medication|Medicaments]]; [[Motor car]]s and other [[motor vehicles]], including [[station wagons]] and [[tractors]]; Insulated [[wire]], [[Electrical cable|cable]] and other [[Insulator (electricity)|insulated conductors]]; [[Optical microscope|Optical]], [[Camera|photographic]], [[Movie camera|cinematographic instruments]] and apparatus; [[Insecticides]], [[rodenticides]], [[herbicides]] and similar products; [[Electronics|Electrical apparatus]] for [[Circuit switching|switching]] or protecting [[Electrical network|electrical circuits]] ([[Electronic switch|switches]], [[relays]], [[Fuse (electrical)|fuses]], etc.); Automatic [[data processing]] machines; [[Chemical products]]; Others.<ref name="CIAWFMD"/><ref>{{cite web |url=https://trendeconomy.com/data/h2/Moldova/TOTAL |title=Moldova. Imports and Exports. World−ALL COMMODITIES−Value (US$) and Value Growth, YoY (%). 2009 - 2020 |publisher=TrendEconomy |website=trendeconomy.com |language=en |accessdate=17 August 2022 |archive-date=17 August 2022 |archive-url=https://web.archive.org/web/20220817014336/https://trendeconomy.com/data/h2/Moldova/TOTAL |url-status=live }}</ref><ref>{{cite web |url=https://oec.world/en/visualize/tree_map/hs92/import/mda/all/show/2020/ |title=What does Moldova import? (2020) |publisher=[[The Observatory of Economic Complexity]] |website=oec.world |language=en |accessdate=17 August 2022 |archive-date=17 August 2022 |archive-url=https://web.archive.org/web/20220817014335/https://oec.world/en/visualize/tree_map/hs92/import/mda/all/show/2020/ |url-status=live }}</ref>
| import-partners = {{plainlist|
*{{flag|Romania}} 15.0%
*{{flag|Ukraine}} 12.4%
*{{flag|China}} 11.7%
*{{flag|Turkey}} 8.5%
*{{flag|Germany}} 7.1%
*{{flag|Italy}} 5.4%
*{{flag|Russia}} 3.7%
*{{flag|Poland}} 3.7%
*{{flag|France}} 2.5%
*{{flag|India}} 2.4% (2023)<ref name="MDExportImport2023"/>}}
| current account = {{plainlist|
*{{decrease}} $ −1.8 billion (2022 est.)<ref name="IMFWEOMD"/>
*{{decrease}} −12.8% of GDP (2022 est.)}}
| FDI = {{plainlist|
*{{increase}} $4.851 billion (2020 est.)<ref>{{cite web |url=https://fia.md/wp-content/uploads/2021/09/FIA-Raport_Impactul-ISD-asupra-Economiei-RM.pdf |title=Investiţiile străine directe: Impactul asupra economiei Republicii Moldova. 2021 report, p. 15 |publisher=Foreign Investors Association |website=fia.md |language=ro |access-date=17 August 2022 |archive-date=17 August 2022 |archive-url=https://web.archive.org/web/20220817165629/https://fia.md/wp-content/uploads/2021/09/FIA-Raport_Impactul-ISD-asupra-Economiei-RM.pdf |url-status=live }}</ref>
*FDI net flux: {{decrease}} $62.45 million (2020 est.)}}
| gross external debt = {{plainlist|
* {{decreasePositive}} $8.687 billion (30 June 2022)<ref>{{cite web |url=https://www.bnm.md/en/tipuri-de-publicatii/datoria-externa |title=External debt / Datoria externă la sfârșitul trimestrului II 2022 (date provizorii) |publisher=[[National Bank of Moldova]] |website=bnm.md |quote=Conform datelor preliminare, datoria externă brută a Republicii Moldova s-a diminuat neesențial pe parcursul trimestrului II 2022, cu 0,9 la sută și a totalizat 8 687,24 mil. USD la 30.06.2022, ceea ce constituie 60,9 la sută raportat la PIB (-3,2 p.p. față de 31.12.2021). |language=ro |date=30 Sep 2022 |access-date=15 Oct 2022 |archive-date=17 August 2022 |archive-url=https://web.archive.org/web/20220817165629/https://www.bnm.md/en/tipuri-de-publicatii/datoria-externa |url-status=live }}</ref>
* {{decreasePositive}} 60.9% of GDP (2022 est.)}}
| debt = {{plainlist|
*{{increaseNegative}} MDL 82.742 billion (30 June 2022)<ref>{{cite web |url=https://mf.gov.md/sites/default/files/Raport%20Q2%202022.pdf |title=RAPORT privind situaţia în domeniul datoriei sectorului public, garanţiilor de stat şi recreditării de stat în semestrul I al anului 2022 |website=mf.gov.md |publisher=[[Ministry of Finance (Moldova)]] |quote=Drept urmare a analizei privind evoluția datoriei sectorului public, se atestă o creșterea soldului acesteia cu 1,1% la situația din 30 iunie 2022 comparativ cu sfârșitul anului 2021, constituind 82 742,2 mil. lei sau 29,6% din PIB-ul prognozat pentru anul 2022. Ca pondere în PIB, datoria sectorului public s-a micșorat cu 4,2 p.p. comparativ cu situația de la finele anului 2021. |pages=4 |language=ro |access-date=15 Oct 2022 |archive-date=15 October 2022 |archive-url=https://web.archive.org/web/20221015133030/https://mf.gov.md/sites/default/files/Raport%20Q2%202022.pdf |url-status=live }}</ref>
*{{decreasePositive}} 29.6% of GDP (2022 est.)}}
| revenue = {{plainlist|
* {{increase}} MDL 89.610 billion (2022 est.)<ref name="IMFWEOMD"/>
* {{increase}} 32.2% of GDP (2022 est.)}}
| expenses = {{plainlist|
* {{increaseNegative}} MDL 106.8 billion (2022 est.)<ref name="IMFWEOMD"/>
* {{increaseNegative}} 38.4% of GDP (2022 est.)}}
| balance = {{plainlist|
* {{decrease}} MDL −17.219 billion (2022 est.)<ref name="IMFWEOMD"/> 
* {{decrease}} −6.19% of GDP (2022 est.)}}
| aid = 
| credit = [[Moody's]] (2022):<ref name="GEMCR">{{cite web |url=https://www.theglobaleconomy.com/Moldova/credit_rating/ |title=Moldova: Sovereign credit ratings (measure: Sovereign credit rating, source: Standard & Poor's, Moody's, Fitch, and Scope) |publisher=The Global Economy |website=theglobaleconomy.com |date=April 2022 |access-date=18 August 2022 |archive-date=18 August 2022 |archive-url=https://web.archive.org/web/20220818034848/https://www.theglobaleconomy.com/Moldova/credit_rating/ |url-status=live }}</ref><br />B3<br />Outlook: Negative
| reserves = {{increase}} $4.228 billion (30 Sep 2022)<ref>{{cite web |url=https://www.bnm.md/bdi/pages/reports/dovre/DOVRE1.xhtml?id=0&lang=en |title=Report : Official reserve assets and other foreign currency assets |website=bnm.md |publisher=[[National Bank of Moldova]] |access-date=15 Oct 2022 |archive-date=16 April 2023 |archive-url=https://web.archive.org/web/20230416132806/https://www.bnm.md/bdi/pages/reports/dovre/DOVRE1.xhtml?id=0&lang=en |url-status=live }}</ref>
| cianame = 
| spelling = 
}}
The '''economy of Moldova''' is an [[Emerging market|emerging]]<ref name="WEOEMDE2022"/> upper-middle income economy,<ref name="WBCLG"/> [[Moldova]] is a landlocked [[Eastern Europe]]an country, bordered by [[Ukraine]] on the East and [[Romania]] to the West. It is a former [[Republics of the Soviet Union|Soviet republic]] and today a [[Potential enlargement of the European Union|candidate member]] to the [[European Union]].<ref>{{Cite news |date=2022-06-23 |title=EU awards Ukraine and Moldova candidate status |language=en-GB |work=BBC News |url=https://www.bbc.com/news/world-europe-61891467 |access-date=2022-08-16 |archive-date=2022-06-23 |archive-url=https://web.archive.org/web/20220623000924/https://www.bbc.com/news/world-europe-61891467 |url-status=live }}</ref>

==Background==
{{Main|History of independent Moldova}}

On January 2, 1992, Moldova introduced a [[market economy]], liberalising prices, which resulted in huge [[inflation]]. In 1993, a national currency, the [[Moldovan leu]], was introduced to replace the [[Soviet rouble]].  The economic fortunes of Moldova began to change in 2001; since then the country has seen a steady annual growth of between 5% and 10%. [[Remittance]]s from Moldovans abroad account for a quarter of Moldova's [[GDP]], one of the highest percentages in the world.

==Overview==
{{Update|section|date=January 2017}}
{{more citations needed section|date=October 2012}}
[[File:Horse with cart.jpg|thumb|Horse-drawn carts in the Moldovan countryside.]]
Moldova's proximity to the [[Black Sea]] gives it a mild and sunny climate. The fertile [[Chernozem]] soil supports [[wheat]], [[maize|corn]], [[barley]], [[tobacco]], [[sugar beet]], and [[soybean]]s. Beef and [[dairy cattle]] are raised, and beekeeping is widespread. Moldova's best-known product comes from its extensive and well-developed vineyards concentrated in the central and southern regions. Moldova produces [[liqueur]] and [[sparkling wine]]. It is also known for its sunflower seeds, walnuts, apples, and other fruits. This makes the area ideal for [[agriculture]] and food processing, which accounts for about 40% of the country's [[GDP]].

In 2018, Moldova produced:
* 1.1 million tons of [[wheat]];
* 132 thousand tons of [[plum]];
* 174 thousand tons of [[potato]];
* 175 thousand tons of [[barley]];
* 2.0 million tons of [[maize]];
* 665 thousand tons of [[apple]];
* 707 thousand tons of [[sugar beet]] (the beet is used to manufacture [[sugar]] and [[ethanol]]);
* 730 thousand tons of [[grape]];
* 788 thousand tons of [[sunflower seed]].

In addition to smaller productions of other agricultural products, like [[rapeseed]] (85 thousand tons). Moldova has a production of [[grape]] and [[apple]] between the 20th and 25th largest in the world, and a production of [[plum]] and [[sunflower seed]] between the 10th and 15th largest of the world.<ref>{{cite web| url = http://www.fao.org/faostat/en/#data/QC/| title = Moldova production in 2018, by FAO| access-date = 2020-10-31| archive-date = 2016-10-16| archive-url = https://web.archive.org/web/20161016200146/http://faostat.fao.org/site/339/default.aspx#data/QC/| url-status = live}}</ref>

[[Image:MoldovanGDPBySector.svg|thumb|right|236px|GDP by sector, 1989, 1999 and 2015]]

Moldova has experienced economic difficulties, like many other former Soviet republics. Since its economy was highly dependent on the rest of the former [[Soviet Union]] for energy and raw materials, the breakdown in trade following the breakup of the Soviet Union had a serious effect, exacerbated at times by drought and civil conflict. The [[1998 Russian financial crisis|Russian rouble devaluation]] of  1998 had a deleterious effect on Moldova's economy, but economic growth has been steady since 2000.

Moldova has made progress in economic reform since independence. The government has liberalized most prices and has phased out subsidies on most basic consumer goods. A program begun in March 1993 has [[privatization|privatized]] 80% of all housing units and nearly 2,000 small, medium, and large enterprises, which led to a rise in homelessness and unemployment. Other successes include the privatization of nearly all of Moldova's agricultural land from state to private ownership, as a result of an American assistance program completed in 2000. A [[stock market]] opened in June 1995.

[[Inflation]] was brought down from over 105% in 1994 to 11% in 1997. Though inflation spiked again after [[Russia]]’s  1998 currency devaluation, Moldova made great strides in bringing it under control: 18.4% in 2000, 6.3% in 2001, and 4.4% in 2002. In 2003 inflation escalated again &ndash; due mainly to a drought-driven rise in agricultural prices &ndash; reaching 15.7%, although it was reined in to 12.5% in 2004. The local currency appreciated considerably in 2003 and the first months of 2004. By May, the leu had reached its highest level since the end of 1999. After the [[National Bank of Moldova]] increased considerably its purchases on the [[foreign exchange market]], the [[Moldovan leu|leu]] stabilized in November–December 2004 at 12.00-12.50 to the [[US dollar]].

Moldova continues transitioning towards a free-market economy. The country recorded its fifth consecutive year of positive GDP growth in 2004, with year-end real GDP growth of 8%. This growth is impressive considering that, prior to 2000, Moldova had recorded only one year of positive GDP growth since independence. Budget execution in 2004 was also impressive, as actual consolidated budget revenues exceeded projections by 1.4% for most of the year.

Privatization results in 2004 were not significant: several smaller companies and one winery were privatized in 2004, but the government postponed indefinitely the privatization of several larger state enterprises, including two electricity distribution companies. Sporadic and ineffective enforcement of the law, economic and political uncertainty, and government harassment and interference continue to discourage inflows of [[foreign direct investment]].

Imports continued to increase more rapidly than exports during the first nine months of 2004; Moldova’s terms of trade worsened, as higher-priced energy imports outpaced the value of Moldova’s main exports—agricultural and agro-processing goods.

During 2002, Moldova rescheduled an outstanding [[Eurobond (international)|Eurobond]], in the amount of $39.6 million, to avoid a potential default. In May 2004, Moldova redeemed [[promissory note]]s with a total value of $114.5 million to Russian [[Gazprom]] for just $50 million. Moldova informed its bilateral creditors in mid-2003 that it would no longer service its debts. The 2004 budget did provide funds for external debt service (interest) at some 6% of the government budget, the 2005 budget projects external debt service at some 4%. The [[International Monetary Fund]] (IMF) and [[World Bank]] resumed lending to Moldova in July 2002, and then suspended lending again in July 2003. Although Moldova passed a poverty reduction strategy in 2004, it has yet to reach an agreement with international financial institutions.

70% of total electrical energy power consumed in Moldova is imported from [[Ukraine]] and only 30% is produced in Moldova.

In 2021 Moldova's trade with Russia was $1.33b compared with the EU of $5.06. In 2022 the EU trade increased to $6.9b<ref>{{cite web |title=Ukraine Crisis: Moldova on the Crossroads |url=https://www.icwa.in/show_content.php?lang=1&level=3&ls_id=9762&lid=6244 |date=20 July 2023}}</ref>

== Macroeconomic situation ==
{{more citations needed section|date=October 2012}}
[[File:GDP per capita development of Moldova.svg|thumb|right|Real GDP per capita development of Moldova, 1973 to 2018]]
As a whole, Moldova is doing well, despite a series of consecutive shocks, which included the doubling of the price of imported natural gas and [[2006 Russian ban of Moldovan and Georgian wines]], and a severe drought in 2007. Growth is estimated at 5 percent in 2007 and is projected to increase to 7 percent in 2008. [[Investment (macroeconomics)|Investment]] is picking up, and is beginning to replace remittances as the main source of growth—an encouraging sign that the earlier model of consumption-driven growth is changing.

Moldova increasingly faces the challenges experienced by other transition economies. Improved growth prospects have come with strong appreciation pressures from foreign exchange inflows, and a widening trade deficit. Foreign direct investment ([[Foreign direct investment|FDI]]) has picked up and is estimated to have reached 12 percent of GDP in 2007, compared with 7 percent in 2006.

The main macroeconomic concern is inflation, which at 13 percent remains high for the region.

A deterioration in the merchandise trade balance due to strong import growth has been offset by improvements in net income and transfers, with a small improvement in the current account deficit to 12 percent of [[GDP]]. A resumption of wine exports to Russia in October was a major positive development, although volumes are likely to recover slowly.

Fiscal policy remained tight, ending 2007 with a modest deficit of 0.3 percent of GDP. Strong revenue performance was driven by robust [[VAT]] on imports, while expenditure was kept in line with the budget. However, the tax cuts introduced in 2008 may undermine the favorable fiscal position.

Monetary tightening in 2007 was complicated by the strong inflow of foreign exchange. The [[National Bank of Moldova]] increased reserve requirements from 10 to 15 percent, and raised policy interest rates by 2.5 percentage points. Nevertheless, the possibility of second-round effects from the drought, liquidity pressures from growing remittances and [[Foreign direct investment|FDI]], and the continued strong growth in credit and broad money suggest that upside risks to inflation are not yet fully contained.

In spite of some favorable background, Moldova remains Europe's poorest nation, resisting pursuing the types of reforms that have vastly improved the economies of some of its [[Eastern Europe]]an neighbors. The [[Party of Communists of the Republic of Moldova|Communist Party]] retained political control after winning the March 2005 parliamentary elections and re-elected its leader, [[Vladimir Voronin]], as president in collaboration with the [[opposition (politics)|opposition]]. Although the government maintains a pro-Western stance, it has had trouble pursuing structural reforms and has made little progress on the [[International Monetary Fund]]'s program to attract external financial resources. The parliament approved the government's economic growth and strategy paper in December 2004, but international financial institutions and [[Western world|Western]] [[investor]]s will not be satisfied until the government begins to address [[fiscal adjustment]], [[incomes policy|wage restraint]], and payment of debt arrears. Despite the fact that the pace of privatization and industrial output has slowed, GDP growth was 7.3 percent in 2004, consumption continues to grow, and the currency continues to appreciate. The impasse in the pro-Russian [[Transnistria]] enclave, plagued by [[political corruption|corruption]] and the smuggling of [[weapon|arms]] and [[contraband]], continues despite international attempts at mediation.

== Business and economic environment==
According to the 2024 [[Index of Economic Freedom]], Moldova ranks 99th globally with the overall score of 57.1, a decrease relative to 2023.<ref>{{Cite web|url=https://www.heritage.org/index/pages/country-pages/moldova|archive-url=https://web.archive.org/web/20240706005815/https://www.heritage.org/index/pages/country-pages/moldova|url-status=unfit|archive-date=July 6, 2024|title=Index of Economic Freedom: Moldova|access-date=2024-12-30}}</ref>
{| class="wikitable" style="text-align:center"
|-
! colspan=3 | Rule of Law
! colspan=3 | Regulatory Efficiency
! colspan=3 | Government Size
! colspan=3 | Open Markets
|-
! Parameter
! style="width:10px;" | Score
! style="width:10px;" | Change <small> in Yearly Score from 2022</small>
! Parameter
! style="width:10px;" | Score
! style="width:10px;" | Change <small> in Yearly Score from 2022</small>
! Parameter
! style="width:10px;" | Score
! style="width:10px;" | Change <small> in Yearly Score from 2022</small>
! Parameter
! style="width:10px;" | Score
! style="width:10px;" | Change <small> in Yearly Score from 2022</small>
|-
| Property Rights
! style="text-align:center; background:#b8220e; color:white;"| 37.9
| {{decrease}}
| Business Freedom
! style="text-align:center; background:#dcaa41; color:white;"| 60.2
| {{decrease}}
| Government Spending
! style="text-align:center; background:#dcaa41; color:white;"| 64.4
| {{decrease}}
| Trade Freedom
! style="text-align:center; background:#43a847; color:white;"| 75.6
| {{decrease}}
|-
| Government Integrity
! style="text-align:center; background:#b8220e; color:white;"| 35.6
| {{increase}}
| Labor Freedom
! style="text-align:center; background:#b8220e; color:white;"| 46.6
| {{increase}}
| Tax Burden
! style="text-align:center; background:#2b6b2e; color:white;"| 93.4
| {{decrease}}
| Investment Freedom
! style="text-align:center; background:#f51405; color:white;"| 55.0
| {{steady}}
|-
| Judicial Effectiveness
! style="text-align:center; background:#b8220e; color:white;"| 29.8
| {{decrease}}
| Monetary Freedom
! style="text-align:center; background:#43a847; color:white;"| 71.2
| {{decrease}}
| Fiscal Health
! style="text-align:center; background:#2b6b2e; color:white;"| 82.1
| {{decrease}}
| Financial Freedom
! style="text-align:center; background:#f51405; color:white;"| 50.0
| {{steady}}
|}

''*Everything above 60 is considered to be Moderately Free.''

According to the 2020 [[Ease of Doing Business Index]], Moldova's Distance to Frontier is 74.4/100 (48th globally), an increase of 1.3 relative to 2019.<ref>{{cite web| url = http://www.doingbusiness.org/data/exploreeconomies/moldova/| url-status = dead| archive-url = https://web.archive.org/web/20101017044708/http://www.doingbusiness.org/Data/ExploreEconomies/moldova/| archive-date = 2010-10-17| title = Doing Business in Moldova - World Bank Group}}</ref>

{{bar box
|title=Ease of doing business, 2020
|titlebar=#DDD
|left1='''Parameter'''
|right1='''DTF'''
|right2=
|width=560px
|bars=
{{bar percent|Starting a Business|barwidth=300px|#a0d8ff|95.7|95.7%|note={{increase}}}}
{{bar percent|Dealing with Construction Permits|#a0d8ff|56.2|56.2%|note={{increase}}}}
{{bar percent|Getting Electricity|#a0d8ff|75.3|75.3%|note={{increase}}}}
{{bar percent|Registering Property|#a0d8ff|82.8|82.8%|note={{increase}}}}
{{bar percent|Getting Credit|#a0d8ff|70.00|70.00%|note={{steady}}}}
{{bar percent|Protecting Minority Investors|#a0d8ff|68.0|68.0%|note={{steady}}}}
{{bar percent|Paying Taxes|#a0d8ff|85.2|85.2%|note={{increase}}}}
{{bar percent|Trading Across Borders|#a0d8ff|92.3|92.3%|note={{steady}}}}
{{bar percent|Enforcing Contracts|#a0d8ff|63.6|63.6%|note={{increase}}}}
{{bar percent|Resolving Insolvency|#a0d8ff|54.8|54.8%|note={{increase}}}}
}}

''*DTF (Distance to Frontier): Higher is better''

== Trade policy ==
According to the World Bank, Moldova's weighted average tariff rate in 2001 (the most recent year for which World Bank data are available) was 2.8 percent. (The World Bank has revised the figure for 2001 downward from the 3.9 percent reported in the 2005 Index.) A 2004 World Bank report notes a "range of informal barriers to both imports and exports in Moldova, such as cumbersome and restrictive trade procedures, corruption, burdensome and inappropriate regulations and high transport costs." Based on the revised trade factor methodology, Moldova's trade policy score is unchanged.

===Free Trade Agreements===
Currently Moldova has signed multilateral and bilateral Free Trade Agreements with 43 countries.

{| class="wikitable" style="text-align:center"
|-
! Agreement !! Signed !! Entry into Force !! Comment
|-
| Moldova–[[Azerbaijan]] FTA  || 1995 || 1996 ||
|-
| Moldova–[[Georgia (country)|Georgia]] FTA  || 1997 || 2007 || 
|-
| [[CEFTA]] || 19 December 2006 || 28 July 2007 ||
|-
| [[Commonwealth of Independent States Free Trade Area|CISFTA]] || 18 October 2011 ||9 December 2012 ||
|-
| [[DCFTA]]  || 27 June 2014 || 1 July 2016 || Provisionally applied 1 September 2014 – 1 July 2016
|-
| Moldova–[[Turkey]] FTA  || 11 September 2014 || 1 November 2016 ||
|-
| [[EFTA]]-Moldova FTA<ref>{{Cite web|url=https://www.efta.int/free-trade/Free-Trade-Agreement/Moldova|title=EFTA website on Moldova trade negotiations|access-date=2023-07-15|archive-date=2023-06-30|archive-url=https://web.archive.org/web/20230630122527/https://www.efta.int/free-trade/Free-Trade-Agreement/Moldova|url-status=dead}}</ref>  || 27 June 2023<ref>{{Cite web|url=https://www.efta.int/Free-Trade/news/EFTA-and-Moldova-sign-Free-Trade-Agreement-536291|title=EFTA and Moldova sign a Free Trade Agreement|access-date=2023-07-15|archive-date=2023-07-05|archive-url=https://web.archive.org/web/20230705130004/https://www.efta.int/Free-Trade/news/EFTA-and-Moldova-sign-Free-Trade-Agreement-536291|url-status=live}}</ref> ||  || Awaiting ratification
|-
| Moldova–[[China]] FTA<ref>{{Cite web|url=http://fta.mofcom.gov.cn/enarticle/chinamoldovaen/chinamoldovaennews/201802/37123_1.html|title=China FTA Network|access-date=2018-02-01|archive-date=2018-02-01|archive-url=https://web.archive.org/web/20180201193108/http://fta.mofcom.gov.cn/enarticle/chinamoldovaen/chinamoldovaennews/201802/37123_1.html|url-status=live}}</ref>  ||  ||  || Under Negotiation

|}

== Regional developments ==
Countries tend to benefit from sharing borders with developed markets as this facilitates trade and development. Below is a table of Moldova's neighboring countries, their GDP per capita in 1995 and 2021, and trade values between the pairs. Their evolution is distinct as Romania went from a GDP per capita which was about 1.7 times larger than that of Moldova's in 1995 to one which in 2021 is more than 2.5 times as large. Ukraine on the other hand has decreased when compared to Moldova.

{| border="1" class="wikitable"
|-----
! Country
! GDP per capita,<br /> <small>PPP (current international $) 1995<ref name="data.worldbank.org">{{Cite web |url=https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?end=2021&locations=RO-MD-UA&name_desc=true&start=1995 |title=GDP per capita, PPP (Current international $) - Romania, Moldova, Ukraine &#124; Data |access-date=2023-08-27 |archive-date=2023-08-27 |archive-url=https://web.archive.org/web/20230827135824/https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?end=2021&locations=RO-MD-UA&name_desc=true&start=1995 |url-status=live }}</ref></small>
! GDP per capita,<br /> <small>PPP (current international $) 2021<ref name="data.worldbank.org"/></small>

|- align="right"
! align="left"|Romania
| 5,429|| 36,277

|- align="right"
! align="left"|Ukraine
| 4,136 || 14,281 
|- align="right"
! align="left"|Moldova 
| 3,145 || 15,009 
|}

The Russian Federation for comparison rose from 5,613 in 1995 to 34,043 in 2021, slightly less than Romania.

== Regional GDP ==

This is a list of regions of Republic of Moldova by nominal GDP shown in Moldovan leu and Euro. Statistics shown are for 2021.<ref>{{citation|title=Regional Gross Domestic Product, thousand lei by Economic activities, Development regions and Years|url=https://statbank.statistica.md/PxWeb/pxweb/en/40%20Statistica%20economica/40%20Statistica%20economica__13%20CNT__CNT270/CNT270100reg.px/table/tableViewLayout2/?rxid=b2ff27d7-0b96-43c9-934b-42e1a2a9a774|website=statbank.statistica.md}}</ref>

{| class="wikitable sortable" style="font-size:85%;"
!Rank
!Region
!GDP (billion [[Moldovan leu|leu]])
!GDP (billion [[Euro|€]])
!GDP per capita (€)
|-
|1
|[[Chișinău]]
|146.204
|7.003
|11,000
|-
|2
|[[Northern Development Region|Northern Region]]
|37.080
|1.776
|1,800
|-
|3
|[[Central Development Region|Central Region]] 
|36.390
|1.743
|1,600
|-
|4
|[[Southern Development Region|Southern Region]]
|16.838
|0.807
|1,500
|-
|5
|[[Gagauzia]]
|5.566
|0.267
|2,000
|-
|
|'''[[Moldova]]'''
|242.079 
|11.596
|4,800
|-
|}

== Fiscal burden ==
Moldova's [[income tax]] rate has been a flat 12 percent since 2019.

The [[corporate tax]] rate for SRL companies has been 12 percent from 2012, since 2018 the unique tax of 7% for IT companies part of Moldova IT Park was implemented.<ref>{{cite web |title=Moldova IT Park Tax |url=https://incorpore.md/en/low-corporate-tax-in-europe-moldova-s-7-single-tax/ |access-date=21 Jan 2024 }}{{Dead link|date=June 2024 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>

The Sales tax (VAT) standard rate has remained at 20% since 2014. There are reduced rates of 12% and 8% for certain goods.<ref>{{cite web |title=Indirect tax - Moldova |url=https://www.grantthornton.global/en/insights/indirect-tax-guide/indirect-tax---Moldova/ |access-date=27 August 2023 |archive-date=27 August 2023 |archive-url=https://web.archive.org/web/20230827135931/https://www.grantthornton.global/en/insights/indirect-tax-guide/indirect-tax---Moldova/ |url-status=live }}</ref>

In 2024, Moldova decided that companies in Transnistria and Moldova should be treated in a similar way as regards customs duties on imported goods, resulting in Transnistria import companies needing to register with Moldova and pay import custom duties (but not V.A.T., nor excise duties) to Moldova. This would also hopefully reduce smuggling of goods out of Transnistria that had been imported duty free, such as cigarettes.<ref>{{cite web |title=Moldova Tells Companies in Breakaway Transnistria: Time to Pay Taxes |url=https://balkaninsight.com/2024/01/05/moldova-tells-companies-in-breakaway-transnistria-time-to-pay-taxes/ |date=5 January 2024 |access-date=20 January 2024 |archive-date=11 January 2024 |archive-url=https://web.archive.org/web/20240111155416/https://balkaninsight.com/2024/01/05/moldova-tells-companies-in-breakaway-transnistria-time-to-pay-taxes/ |url-status=live }}</ref>

== Monetary policy ==

Annual inflation rate hit 30.2% in December 2022, mainly as a result of the rise in world wide fuel and food costs, falling in 2023, interest rates are now also falling but remain high until inflation is under control.<ref>{{cite web |title=Monetary policy decision, 20.06.2023 |url=https://www.bnm.md/en/content/monetary-policy-decision-20062023 |date=20 June 2023 |access-date=27 August 2023 |archive-date=27 August 2023 |archive-url=https://web.archive.org/web/20230827141530/https://www.bnm.md/en/content/monetary-policy-decision-20062023 |url-status=live }}</ref>

== Foreign investment ==
The Moldovan government does not maintain many formal barriers to foreign investment, and the Moldovan embassy reports that foreign investors are free to "place their investments throughout the Republic of Moldova, in any area of business activity, as long as it does not go against the interests of the national security, anti-monopoly legislation, environment protection norms, public health and public order."

Since gaining independence in 1992, Moldova privatised most state-owned enterprises, and most sectors of the economy are almost entirely in private hands. The government keeping control of electrical distribution, railways, the state airline [[Air Moldova]], fixed line communication company [[Moldtelecom]] and the country’s largest tobacco company.<ref>{{cite web |title=Moldova - 7-State Owned Enterprises |url=https://www.privacyshield.gov/ps/article?id=Moldova-State-Owned-Enterprises |access-date=19 November 2023 |archive-date=19 November 2023 |archive-url=https://web.archive.org/web/20231119104718/https://www.privacyshield.gov/ps/article?id=Moldova-State-Owned-Enterprises |url-status=live }}</ref>

Invest Moldova was created to encourage inward investment, promoting the low levels of tax on individuals and companies. Free Economic Zones have been created designed for export-oriented manufacturing companies, Industrial Parks have been established to bring companies together and offer lower operating costs.<ref>{{cite web |title=Invest in Moldova |url=https://www.invest.gov.md/en/ |access-date=19 November 2023 |archive-date=19 November 2023 |archive-url=https://web.archive.org/web/20231119104720/https://www.invest.gov.md/en/ |url-status=live }}</ref>

Foreign direct investment is slowly rising, $587m in 2022, $410m in 2021 and $150m in 2020, with each year supplemented with $4.7-4.9 billion of loans, with manufacturing, financial intermediation, and trade being the main sectors.<ref>{{cite web |title=Foreign direct investment (FDI) in Moldova |url=https://www.lloydsbanktrade.com/en/market-potential/moldova/investment |date=October 2023 |access-date=2023-11-19 |archive-date=2023-11-19 |archive-url=https://web.archive.org/web/20231119104719/https://www.lloydsbanktrade.com/en/market-potential/moldova/investment |url-status=live }}</ref>

== Banking and finance ==
{{Main|List of banks in Moldova}}

There are no official barriers to founding foreign banks or branches in Moldova. The central bank the [[National Bank of Moldova]] has a responsibility to the management and control of all banks in Moldova.

In 2014 a major fraud took place, the [[2014 Moldovan bank fraud scandal]] which nearly bankrupted the country. $1 billion disappeared from three Moldovan banks: ''Banca de Economii'', ''Unibank'' and ''Banca Socială''.<ref name=bbc18615>[https://www.bbc.com/news/magazine-33166383 The great Moldovan bank robbery] {{Webarchive|url=https://web.archive.org/web/20220519124019/https://www.bbc.com/news/magazine-33166383 |date=2022-05-19 }}, [[BBC News]] (18 June 2015)</ref> In the week preceding the [[2014 Moldovan parliamentary election]] more than $750 million were extracted from the three banks in just three days, with a van loaded with stolen files from the banks being burned. A number of people were charged, [[Ilan Shor]] was convicted but fled justice.

Major reforms to the legal framework of the Moldovan financial sector have taken place as the country progresses to implementing the EU`s legislation. By 2023 the Moldovan banking system is regarded as harmonized at a high level with the relevant EU community.<ref>{{cite web |title=Banking & Finance in Moldova |url=https://ceelegalmatters.com/banking-2023/banking-moldova-2023 |date=5 June 2023 |access-date=19 November 2023 |archive-date=19 November 2023 |archive-url=https://web.archive.org/web/20231119101343/https://ceelegalmatters.com/banking-2023/banking-moldova-2023 |url-status=live }}</ref> The IMF reported in 2023 that Banks remain adequately capitalised, maintain adequate liquidity coverage and healthy asset quality.<ref>{{cite web |title=Republic of Moldova: Second Reviews Under the Extended Credit Facility and Extended Fund Facility Arrangements, and Request for Waiver of Applicability for Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Republic of Moldova |work=IMF Staff Country Reports |url=https://www.elibrary.imf.org/view/journals/002/2023/006/article-A001-en.xml |date=12 January 2023|issue=6 }}</ref>

== Wages and prices ==
The government influences prices through the large state-owned sector. According to the Ministry of Economy, the state regulates the prices of goods and services provided by monopolies and the prices of electric or thermal energy, land, medical services, and services offered by local tax regions. Moldova has two legal monthly minimum wages: one wage for state employees and another, higher wage for the private sector.

In 2023, the average monthly salary in the economy was MDL 12,175 (approx. 630 EUR / 686 USD)

== Property rights ==
The [[U.S. Department of Commerce]] reports that the "legal system has improved in recent years. Moldova has a documented and consistently applied commercial law." Nevertheless, much more needs to be done. According to the [[U.S. Department of State]], "The Constitution provides for an independent judiciary; however, the executive branch has exerted undue influence on the judiciary. Many observers believe that arrears in salary payments also make it difficult for judges to remain independent from outside influences and free from corruption."

== Regulation ==
"Bureaucratic procedures are not always transparent and red tape often makes processing unnecessarily long," reports the U.S. Department of Commerce. "[C]ommercial law is a confusing patchwork of narrow statutes and an outdated civil code. With [[United States Agency for International Development|USAID]] experts, a draft civil code has been developed which follows the current European practice of incorporating commercial law provisions." The same source reports that anti-corruption laws "are not effectively enforced and corruption exists at an advanced level." A report provided by the World Bank indicates that labor laws are somewhat rigid.

== Informal market ==
[[Transparency International]]'s 2004 score for Moldova is 2.3. Thereafter, Moldova's [[informal market]] score is 4 in 2005.
In 2011 the corruption score for Moldova is 2.9, better than it was in 2004, concluding TI.<ref>{{cite web|url=http://cpi.transparency.org/cpi2011/results/|title=2011 Corruption Perceptions Index -- Results|author=Transparency International e.V.|access-date=3 March 2015|archive-date=10 August 2012|archive-url=https://web.archive.org/web/20120810164915/http://cpi.transparency.org/cpi2011/results/|url-status=dead}}</ref>

== Tourism ==
{{Main|Tourism in Moldova}}
*Total: {{increase}} 503,700 in 2023<ref name="tourism">{{cite web|url=https://statistica.gov.md/ro/activitatea-turistica-a-agentiilor-de-turism-si-turoperatorilor-in-anul-2023-9491_60952.html|title=Activitatea turistică a agențiilor de turism și turoperatorilor în anul 2023 // Biroul Naţional de Statistică|date=16 February 2024 |access-date=30 December 2024|language=ro}}</ref>
**International Tourism: {{increase}} 406,000
***Inbound: {{increase}} 43,600
****{{flag|Romania}} - 38.9%
****{{flag|Italy}} - 14.4%
****{{flag|Ukraine}} - 14.0%
****{{flag|Germany}} - 5.3%
****{{flag|USA}} - 5.2%
***Outbound: {{increase}} 362,400
****{{flag|Turkey}} - 47.0%
****{{flag|Bulgaria}} - 18.9%
****{{flag|Egypt}} - 10.6%
****{{flag|Romania}} - 10.3%
****{{flag|Greece}} - 5.5%
**Domestic Tourism: {{decrease}} 97,700

There are around 15,000 sights and 300 natural zones within Moldova, which represent a potential for domestic and international tourists.

==Statistics==
{| class="wikitable" style="text-align:center;"
|- style="font-weight:bold;"
! style="vertical-align:middle;" | Year
! GDP <br />(in bil. US$ nominal)
! GDP per capita<br />(in US$ nominal)
! GDP <br />(in bil. US$ PPP)
! GDP per capita<br />(in US$ PPP)
! GDP growth <br />(real)
! Inflation <br />(CPI)
! Inflation <br />(End of Period)
! Public Debt<br />(Government Gross Debt)
! Public Debt<br />(Current Account Balance)
! External Debt<br />(General government US$)
! Total External Debt (US$)
|- style="vertical-align:middle;"
| style="font-weight:bold;" | 2013
| 9.496
| 3,307.3
| 23.961
| 8,345.0
| 9.0%
| 4.57%
| 5.1%
| 29.9%
| -5.2%
| 1.305
| 6.729
|- style="vertical-align:middle;"
| style="font-weight:bold;" | 2014
| 9.510
| 3,314.5
| 25.218
| 8,789.2
| 5.0%
| 5.06%
| 4.7%
| 34.9%
| -6.0%
| 1.320
| 6.320
|- style="vertical-align:middle;"
| style="font-weight:bold;" | 2015
| 7.726
| 2,715.7
| 26.233
| 9,221.8
| -0.3%
| 9.6%
| 13.5%
| 42.4%
| -6.0%
| 1.354
| 5.932
|- style="vertical-align:middle;"
| style="font-weight:bold;" | 2016
| 8.072
| 2,857.8
| 29.732
| 10,527.0
| 4.4%
| 6.4%
| 2.3%
| 39.2%
| -3.6%
| 1.481
| 6.056
|- style="vertical-align:middle;"
| style="font-weight:bold;" | 2017
| 9.515
| 3,422.6
| 31.586
| 11,361.9
| 4.2%
| 6.5%
| 7.3%
| 34.8%
| -5.8%
| 1.722
| 6.833
|- style="vertical-align:middle;"
| style="font-weight:bold;" | 2018
| 11.252
| 4,121.0
| 33.671
| 12,332.0
| 4.1%
| 3.6%
| 0.9%
| 31.8%
| -10.8%
| 1.706
| 7.321
|- style="vertical-align:middle;"
| style="font-weight:bold;" | 2019
| 11.737
| 4,376.6
| 35.509
| 13,241.0
| 3.6%
| 4.8%
| 7.5%
| 28.8%
| -9.4%
| 1.718
| 7.416
|- style="vertical-align:middle;"
| style="font-weight:bold;" | 2020
| 11.530
| 4,377.5
| 32.987
| 12,523.5
| -8.3
| 3.7%
| 0.4%
| 36.6%
| -7.7%
| 2.255
| 8.088
|- style="vertical-align:middle;"
| style="font-weight:bold;" | 2021
| 13.694
| 5,293.2
| 39.259
| 15,175.3
| 13.9
| 5.1%
| 13.9%
| 32.6%
| -12.4%
| 2.606
| 8.740
|- style="vertical-align:middle;"
| style="font-weight:bold;" | 2022
| 14.550
| 5,726.3
| 39.918
| 15,709.5
| -4.9
| 28.5%
| 30.2%
| 32.6%
| -14.3%
| 3.172
| 9.593
|- style="vertical-align:middle;"
| style="font-weight:bold;" | 2023
| 16.000
| 6,410.9
| 42.217
| 16,915.7
| 2.0
| 13.3%
| 5.0%
| 35.0%
| -12.1%
| 3.487
| 10.242
|}

===Moldovan economy in graphics===
<gallery widths="190" heights="127">
File: Moldova GDP Nominal vs Other Countries.jpg|GDP (Nominal per capita) of Moldova and Neighboring Countries.
File: Moldova GDP PPP vs Other Countries.jpg|GDP (PPP per capita) of Moldova and Neighboring Countries.
File: Moldova Money Transfers.jpg|Moldovan Foreign Workers Remittances to Moldova and GDP Nominal.
</gallery>

'''Industrial production growth rate:'''
3.4% (2017)<ref name="Industrial Production">{{cite web|url=http://www.statistica.md/newsview.php?l=ro&idc=168&id=5913|title=Activitatea industriei Republicii Moldova în ianuarie-decembrie 2017|date=16 February 2018 |publisher=Biroul Naţional de Statistică|access-date=5 March 2018|language=ro|archive-date=6 March 2018|archive-url=https://web.archive.org/web/20180306023029/http://www.statistica.md/newsview.php?l=ro&idc=168&id=5913|url-status=live}}</ref><br>
'''Agricultural production growth rate:'''
2.5% (2018)<ref name="Agricultural Production">{{cite web|url=http://www.statistica.md/newsview.php?l=ro&idc=168&id=6240|title=Producţia globală agricolă în anul 2018|date=29 January 2019 |publisher=Biroul Naţional de Statistică|access-date=18 February 2019|language=ro|archive-date=19 February 2019|archive-url=https://web.archive.org/web/20190219015818/http://www.statistica.md/newsview.php?l=ro&idc=168&id=6240|url-status=live}}</ref>

==See also==
*[[Economy of Europe]]
*[[Moldova]]

==References==
{{CIA World Factbook}}
{{Reflist}}

==External links==
*[http://www.statistica.md/index.php?l=en National Bureau of Statistics of Moldova] {{Webarchive|url=https://web.archive.org/web/20091113142639/http://www.statistica.md/index.php?l=en |date=2009-11-13 }}
*[https://web.archive.org/web/20060905011924/http://bnm.md/en/index.html National Bank of Moldova]
*[http://www.imf.org/external/country/MDA/index.htm International Monetary Fund: Republic of Moldova: Statistical Appendix] {{Webarchive|url=https://web.archive.org/web/20170914181930/http://www.imf.org/external/country/MDA/index.htm |date=2017-09-14 }}

{{Moldova topics}}
{{Central European Free Trade Agreement}}
{{World Trade Organization}}
{{Economy of Europe}}
{{Authority control}}

{{DEFAULTSORT:Economy Of Moldova}}
[[Category:Economy of Moldova| ]]
[[Category:World Trade Organization member economies|Moldova]]
[[Category:Economies of Europe by country|Moldova]]