The USA is one of the few markets where Moldova's trade relations have grown over the last 2 years thanks to exports - Veaceslav Ionita
In his weekly program “Economic Analyses with Veaceslav Ionita”, the expert notes that Moldova's exports to the USA amounted to $22 million in 2015, in 2016 - $17 million, in 2018 - $21.8 million, in 2019 - $24.3 million, in 2021 - $31.7 million, in 2022 - $51.5 million, in 2023 - $61.6 million, and in 2024 - $90.2 million. “For two years in a row, 2023 and 2024, Moldovan exports to other countries are generally declining, while those to the US are increasing. Just when our trade with the US started to grow, new tariffs are imposed against us,” the expert says. He also notes that in 2023-2024 exports from Moldova increased only to 6 countries: Czech Republic - by $113.7 million (+109.2%), USA - by $38.7 million (+75.2%), Greece - by $33.4 million (+100.9%), Poland - by $31.1 million (+25.4%), Georgia - by $10.9 million (+62.1%) and Lithuania - by $3 million (+18%). The total volume of exports to these 6 countries increased by $231 million (+67%). Moldova's exports to other countries decreased by $1 billion (-27%). Analyzing the share of Moldova's exports to the US in the total exports, the economist noted that in 1995 it was 1.1%, in 1997 - 5.5%; in 1998 - 2.9%; in 2002 - 5.4%; in 2009 - 1%; in 2014 - 1.4%; in 2017 - 0.8%; in 2021 - 1%; in 2023 - 1.5%; and in 2024 - 2.5%. “There was a boom in exports to the US in 2024. But we still have to increase exports before we reach 1997 levels. There is a lot of potential for that. And we hope that we will not be affected by these new tariffs if the government identifies Moldovan exporters to the US market and supports them to continue export growth,” the economist said. Veaceslav Ionita also presented the volumes of foreign trade between Moldova and the USA: 2001 - $53 mln (export - $25 mln, import - $28 mln), 2002 - $83 mln ($35 mln/$48 mln), 2003 - $69 mln ($34 mln/$35 mln), 2005 - $78 mln ($37 mln/$41 mln), 2006 - $52 million ($16 million/$36 million), 2008 - $100 million ($15 million/$93 million), 2009 - $57 million ($12 million/$45 million), 2012 - $109 million ($3 million/$79 million), 2016 - $70 million ($17 million/$53 million), 2019 - $98 million ($24 million/$74 million), 2020 - $94 million ($26 million/$68 million), 2021 - $139 million ($32 million/$107 million), 2022 - $185 million ($51 million/$134 million), 2024 - $225 million ($90 million/$135 million). The economist notes that trade was steady through 2010 - up to $100 million, but most of it (about 75%) was imports. After 2010, imports increased even more. In the last 2 years, trade with the US is one of the few cases when Moldova's trade balance is improving. The expert noted that in 2001 the coverage of US imports by Moldovan exports amounted to 89.3%, in 2002 - 72.7%; in 2004 - 145.3%; in 2008 - 16.2%; in 2015 - 43.4%; in 2017 - 26.8%; in 2020 - 37.5%; in 2021 - 29.5%; in 2022 - 38.3%; in 2024 - 66.7%. “For every $100 of imports, there is $70 of exports. The trade balance with the US has improved 2-fold. There was only one year when Moldova exported more to the US than it imported, in other years it imported 3-4 times more. Thanks to the sharp increase in exports in the last 2 years, Moldova has significantly improved its trade balance with the US,” the expert said. While speaking about the structure of Moldova's exports to the US, Veaceslav Ionita noted that in 2015, $12.8 million worth of beverages were exported, $0.4 million worth of herbal preparations, $3 million worth of plastic products, $5.8 million worth of other goods. In 2019, the exports were as follows: beverages - $6.8 million, herbal preparations - $0.6 million, plastic products - $7.2 million, other goods - $9.8 million. In 2021.: beverages - $7.9 million, prepared vegetable products - $8.3 million, plastic products - $5.8 million, other goods - $9.7 million. In 2023: beverages - $11.3 million, prepared vegetable products - $26 million, plastic products - $10.9 million, other goods - $13.6 million. In 2024: beverages - $52.2 million, finished vegetable products - $13.7 million, plastic products - $8.1 million, other goods - $16.3 million. Analyzing the export of alcoholic beverages to the US, Veaceslav Ionita noted that in 2001 it amounted to $0.2 million, in 2005 - $0.8 million, in 2010 - $2.6 million, in 2014 - $14.5 million, in 2019 - $6.8 million, in 2021 - $7.9 million, in 2022 - $7.5 million, in 2023 - $11.3 million, in 2024 - $52.2 million. In 2001-2005, the share of Moldovan alcoholic beverage exports to the US market was 0.3%; 2006-2010 - 1%; 2011-2015 - 6%; 2016-2020 - 4.3%; 2021 - 3.4%; 2022 - 3.3%; 2023 - 4.9%; 2024 - 19.2%. "Over the past 3 years, the growth in Moldovan alcoholic beverage exports has been due to the increase in exports to the United States, which has become one of the main markets for Moldovan alcoholic beverages. In 2024, about 20% of all alcoholic beverages exported by Moldova were sent to the United States. The previous record was in 2014-2015 amounting to 7.5-8.0%," says Veaceslav Ionita. According to the economic analyst, the US market accounts for only 2.5% of Moldova, but it has enormous potential. "All that the Moldovan authorities need to do is to find out who the exporters are who have managed to achieve mass exports to the US market, support them and take measures to ensure that positive results of exports to the US continue to be recorded," concluded Veaceslav Ionita. //18.04.2025 - InfoMarket.
