This page has economic forecasts for Moldova including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Moldova economy.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.70 0.6 0.9 0.8 0.7 0.5 percent
Unemployment Rate 3.00 4.2 4.1 3.9 4.2 4.5 percent
Inflation Rate 1.20 1.9 2.7 3.9 4.6 5 percent
Interest Rate 6.50 6.5 6.5 6 6 6 percent
Balance of Trade -266.60 -210 -210 -213 -265 -197 USD Million
Government Debt to GDP 34.40 38.7 39.4 39.4 39.4 40.2 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 17.00
 16.92 16.99 17.06 17.13 17.42
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.70
percent		 0.6 0.9 0.8 0.7 0.5
GDP Annual Growth Rate 5.20
percent		 3.4 3.1 3.7 3.3 2.6
GDP 8.13
USD Billion		 8.5 9.3 9.3 9.3 11
Gross Fixed Capital Formation 11406473.00
MDL Thousand 		9405047 7925804 11828513 11782887 9929416
GDP per capita 2165.16
USD		 2230 2370 2370 2370 2450
GDP per capita PPP 5189.97
USD		 5190 5220 5220 5220 5300
GDP Constant Prices 141043266.10
MDL Thousand		 145838737 145415607 146261867 145697694 153969830
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 3.00
percent		 4.2 4.1 3.9 4.2 4.5
Unemployed Persons 40.90
Thousand		 38.99 44.6 40.46 39.75 40.2
Labor Force Participation Rate 46.40
percent		 41.25 40.73 46.45 45.73 41.81
Wages 5906.50
MDL/Month		 6500 5800 6038 5907 7000
Wages in Manufacturing 6020.00
MDL/Month		 6000 5250 5894 5894 6300
Population 3.55
Million		 3.54 3.54 3.54 3.54 3.52
Retirement Age Women 58.00
 58 58.5 58 58 59
Retirement Age Men 63.00
 63 63.5 63 63 64
Youth Unemployment Rate 7.80
percent		 9.33 8.43 8 9.33 8.1
Employed Persons 1343.40
Thousand		 1187 1156 1336 1306 1190
Employment Rate 45.00
percent		 39.97 38.91 44.88 44 40.18
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 1.20
percent		 1.9 2.7 3.9 4.6 5
Consumer Price Index CPI 2398.87
Index Points		 2445 2472 2513 2500 2721
Core Inflation Rate 3.00
percent		 2.88 2.77 2.71 2.68 2.64
Producer Prices 129.60
Index Points		 131 131 131 131 134
Inflation Rate Mom 0.40
percent		 0.2 0.1 0.3 0.4 0.5
Producer Prices Change -0.20
percent		 0.8 1.2 1.1 1.1 1.2
Food Inflation 2.30
percent		 6.5 6.6 6.7 6.8 8
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 6.50
percent		 6.5 6.5 6 6 6
Money Supply M0 19818.96
MDL Million		 20324 20275 20424 20297 20425
Money Supply M3 80157.47
MDL Million		 81502 82516 83149 83541 84223
Deposit Interest Rate 3.50
percent		 3.5 3.5 3 3 3
Money Supply M1 36037.54
MDL Million		 36745 37074 37214 37275 37320
Money Supply M2 56152.77
MDL Million		 57325 58151 58639 58949 59456
Lending Rate 9.50
percent		 9.5 9.5 9 9 9
Foreign Exchange Reserves 3006917.22
USD Thousand		 3016488 3025224 3023853 3027369 3025658
Cash Reserve Ratio 42.50
percent		 43.98 44.53 44.72 44.78 44.82
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -266.60
USD Million		 -210 -210 -213 -265 -197
Exports 207.30
USD Million		 275 255 198 214 308
Imports 473.90
USD Million		 485 465 411 480 505
Current Account -282.10
USD Million		 -182 -194 -194 -184 -168
Current Account to GDP -7.60
percent		 -7.5 -6.5 -6.5 -6.5 -6
Capital Flows -244.15
USD Million		 -188 -211 -219 -205 -207
Terrorism Index 0.47
 0.47 0.47 0.47 0.47 0.47
Tourist Arrivals 44145.00
 37100 37000 37100 37100 37100
Remittances 211.78
USD Million		 214 202 214 219 213
Foreign Direct Investment 20.66
USD Million		 31.61 63.55 41.28 49.28 46.68
External Debt 7079.14
USD Million		 7007 6891 6839 6757 6511
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 34.40
percent		 38.7 39.4 39.4 39.4 40.2
Government Budget -0.80
percent of GDP		 -1.2 -0.9 -0.9 -0.9 -0.7
Government Revenues 45946.90
MDL Million		 48722 49416 50109 50803 59822
Military Expenditure 28.40
USD Million		 28.67 28.13 27.58 27.04 26.11
Government Spending 48462.60
MDL Million		 50110 49965 50256 50062 52904
Government Budget Value -1144.80
MDL Million		 -2487 -2487 -2487 -2487 -2487
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Industrial Production -3.20
percent		 0.8 -1.1 -1.5 1.7 1.8
Industrial Production Mom 6.10
percent		 1.15 1.53 1.09 1.12 1.11
Manufacturing Production -3.60
percent		 1.35 1.11 1.68 1.86 2.23
Mining Production 22.90
percent		 9.83 9.3 9.28 9.27 9.27
Steel Production 50.00
Thousand Tonnes		 46.06 43.5 42.19 41.55 40.93
Corruption Index 31.00
Points		 31 31 31 31 31
Corruption Rank 122.00
 122 122 122 122 122
Ease of Doing Business 47.00
 51 52 53 54 70
Changes In Inventories 137072.50
MDL Thousand		 -24531 -99169 -106083 483563 155178
Competitiveness Index 55.53
Points		 56.03 56.03 56.03 56.03 58.53
Competitiveness Rank 88.00
 88 88 88 88 88
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Retail Sales MoM 7.60
percent		 1.05 1.02 1.02 1.02 1.02
Retail Sales YoY 10.20
percent		 7.63 7.64 7.64 7.64 7.64
Consumer Spending 37022842.00
MDL Thousand		 35626016 35259821 38392687 38244596 37612309
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 12.00
percent		 12 12 12 12 12
Personal Income Tax Rate 18.00
percent		 18 18 18 18 18
Sales Tax Rate 20.00
percent		 20 20 20 20 20
Social Security Rate 29.00
percent		 29 29 29 29 29
Social Security Rate For Companies 23.00
percent		 23 23 23 23 23
Social Security Rate For Employees 6.00
percent		 6 6 6 6 6
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Temperature 2.44
celsius		 3.73 -1.54 14.8 12.25 9.17
Precipitation 3.13
mm		 35.64 30.62 43.1 43.1 43.43



Moldova - Economic Forecasts - 2018-2020 Outlook