Moldova’s economy grew by 1.4% in real adjusted terms in the first quarter of 2024, with growth driven by the production and supply of electricity, thermal energy, gas, hot water, and air conditioning sector, as well as the manufacturing sector. The country’s GDP reached a gross domestic product (GDP) of 67.4 billion lei ($3.8 billion/3.5 billion euro) at current prices in the same period.
Compared to the previous quarter, Moldova’s GDP grew by a seasonally-adjusted 2.5% in the January-March period. The gross value added in the economy increased by a real 3.4% year-on-year in the first quarter, contributing 2.9 percentage points (pp) to the country’s unadjusted GDP growth rate.
Net exports rose by 1% year-on-year in the first quarter, contributing 3.1 pp to Moldova’s GDP growth, primarily due to a 41% decrease in the volume of imports. However, both transport and storage, as well as real estate transactions, were negative contributors to Moldova’s GDP in the first quarter, deducting 1.2 pp and 0.3 pp respectively
