Moldova's foreign trade: exports to EU more than half of total
Exports of Moldovan goods to EU were worth 154.2 million dollars in nominal value in the 1st quarter of 2009, decreasing by more than 14 percent compared with January-March 2008. According to NBS, exports to EU count for more than 55 percent of overall exports in January-March 2009. On the other hand, imports from EU were worth 301.6 million dollars, by 34.8 percent less than in January-March 2008, covering 38.6 percent of overall imports (44.2 percent in January-March 2008). The trade balance deficit with EU increased by 28.3 percent in 2009, up to 147.4 million dollars (282.9 million dollars in January-March 2008).
Moldova’s main export partners in the EU are: Romania (57.3 million dollars, 20.5 percent of overall exports), Italy (29.3 million dollars or 11.4 percent of overall exports), Germany (16.2 million dollars or 10.5 percent of overall exports), United Kingdom (11.9 million dollars or 4.3 percent of overall exports), Poland (9 million dollars or 3.2 percent of overall exports). Moldova’s main partners in terms of imports from EU are: Romania (54.1 million dollars or 6.9 percent of overall imports), Germany (50 million dollars or 6.4 percent of overall imports), France (42.4 million dollars or 5.4 percent of overall imports), Italy (39.8 million dollars or 5.1 percent of overall imports), Poland (15.8 million dollars or 2 percent of overall imports), Austria (14.2 million dollars or 1.8 percent of overall imports).
At the same time, it is interesting that the external trade has declined in conditions of a reversal of rating both for exports and for imports. Exports to Ukraine dropped the most (-59 percent) because of the serious depreciation of Ukrainian hryvna. In particular, exports to Ukraine count for 10 percent of overall exports in January-March 2008, compared with 5.1 percent in the similar period of this year. Great rises (but small in absolute terms) were recorded for countries such as South Africa (91.1 fold), Switzerland (5.5 fold), Hungary (2.5 fold) and Iraq (2.4 fold). As for imports, the surprise is greater. Despite the formality, the Russian Federation has lost its status of No.1 trade partner in terms of imports, descending to the 6th place. Instead, Kazakhstan has become the No.1 partner. The situation was surprised by some domestic publications and economists, who monitor the external trade and note that "Gazprom has founded a joint enterprise with the Kazakh Company Kaztransgaz, through which it buys natural gas and re-export them further." This proves the very high share of gas in imports from this country (more than 20 percent). Therefore, Turkmenistan would be the No.1 trade partner, should Gazprom import gas from this country on the basis of the same scheme…
ADEPT
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