Moldova's GDP in the first half of 2021 amounted to 104.2 billion lei in nominal terms, up 11.7% compared to the same period in 2020.
The National Bureau of Statistics (NBS) reported this, noting that this growth was recorded against the background of a 7.2% decrease in this indicator for the same period from 2020, versus the first half of 2019. According to official statistics, the gross domestic product of Moldova for the Q2 2021 amounted to 57.7 billion lei at current (market) prices. Compared to Q2 2020, GDP increased in real terms by 21.5% (+ 19.1%) taking into account seasonal adjustments against the backdrop of a 14% decline in this indicator in Q2 2020 versus to Q2 2019, in real terms. As noted by the NBS, the following types of economic activities made the largest contribution to the growth of Moldova's GDP in the first half of 2021: Public administration and defense; compulsory social insurance; education; health care and social assistance (contributed to GDP growth by 2.3%) with a share of 14.3% in the formation of GDP and an increase in the gross value added (GVA) for the relevant activities by 17%; Wholesale and retail trade; maintenance and repair of motor vehicles and motorcycles; transport and storage; accommodation and catering activities (+ 2.1%) with a share of 18.9% in the formation of GDP and an increase in GVA by 10.8%; Mining; manufacturing industry; production and supply of electricity and heat, gas, hot water; air conditioning; water supply; cleaning and treatment of waste and recovery work (+ 1.9%), the GVA of which increased by 12.9%, and the contribution to the formation of GDP amounted to 14.8%; Construction (+ 1.6% contribution to GDP change) with a 10.1% share in GDP formation and an increase in GVA by 16.5%; Information and communication (+ 0.9% in GDP change), with a share of 6.2% in the formation of GDP and an increase in GVA by 16.1%. At the same time, agriculture, forestry and fishery had a negative impact on the evolution of GDP in January-June 2021 (slowing down GDP growth by 0.5%), the gross value added of which decreased by 9.9%, and their share in GDP was 4.6%. Net taxes on products with a share of 14.6% in GDP contributed to GDP growth by 3%, and their volume increased by 22.8%. In terms of use, GDP growth was facilitated by: final consumption of households (+ 9% to GDP change), the volume of which increased by 11.3%, and its share in GDP was 77.3%; gross fixed capital formation (+ 4.9%), the volume of which increased by 20.2%, and its share in GDP was 26.4%; Final consumption of government bodies and non-profit organizations serving households (+ 2.9%), the volume of which increased by 15%, and its contribution to the formation of GDP was 22.9%. At the same time, net exports of goods and services (-13.9% to GDP change) had a negative impact on the GDP physical volume index. As previously reported by the National Bureau of Statistics, Moldova's GDP in 2020 amounted to 206.35 billion lei and decreased by 7% compared to 2019. The budget of Moldova for 2021 was adjusted taking into account the 4.7% economic growth projected for this year and the 2.7% inflation. Subsequently, macroeconomic forecasts were revised, and the Ministry of Economy and Infrastructure expects that real GDP growth in Moldova in 2021 will be 6%, in 2022 - 4.2%, and in the next two years - 4% each. It is expected that in nominal terms, the volume of GDP in 2021 will amount to 227.7 billion lei, in 2022 - 248.8 billion lei, in 2023 - 271.3 billion lei, in 2024 - 292.8 billion. lei. As previously reported, the IMF forecasts that Moldova's GDP will grow by 4.5% in 2021, and by 4% in 2022. The World Bank expects GDP growth in Moldova in 2021 and 2022 at the level of 3.8% and 3.7%, respectively. // 16.09.2021 - InfoMarket.
