The war in Ukraine created an unprecedented situation for Moldovan exports, which increased in the first half of 2022 by a record 72% - IDIS Viitorul.
This was stated by Veaceslav Ionita, expert on economic policies at the Institute for Development and Social Initiatives. He noted that Moldova exported $2.3 billion worth of goods in January-June 2022, up by $959 million compared to the same period last year, when Moldovan exports totaled $1.33 billion. The analyst stressed that the current growth is unprecedented in the history of Moldova, while the previous record was set in 2011 when export growth was half as high - 37%. On a year-on-year basis, Moldovan exports exceeded $4 billion for the first time and reached $4.1 billion. Veaceslav Ionita noted that the current growth of Moldovan exports was due to three main factors. The first factor is the war in Ukraine, which led to increased re-export of Moldovan goods, but the most important one is re-export to Ukraine. This phenomenon can be observed most clearly in the case of oil products. The analyst said the agricultural production is the second factor in export growth, which last year registered the largest growth in the past 70 years. Moldovan exports have started to grow strongly since the fourth quarter of 2021, due to an increase in exports of grains, sunflowers and other agricultural products. "In fact, agricultural production is the main and almost the only domestic factor that determined the growth of Moldovan exports," Veaceslav Ionita stressed. According to him, the third factor for the sharp increase of Moldovan exports is sales on the left bank of the Nistru River. Some producers on the left bank of the Nistru River, especially agricultural producers, face difficulties in exporting their products through traditional channels, through Ukraine. "As a consequence, a significant part of goods produced on the left bank of Nistru River is currently exported as Moldovan goods, which is correct. The Moldovan Customs Service has the necessary data and can shed more light on the volume of goods from the left bank of the Nistru River that are currently exported as Moldovan goods," said the IDIS Viitorul expert. // 18.08.2022- InfoMarket.
