According to allcitypopulation, Moldova is a small landlocked country in Eastern Europe located between Romania and Ukraine. It has an area of 33,851 square kilometers and a population of 3.5 million people. According to Petwithsupplies, the capital city of Moldova is Chișinău with a population of 554 600 (estimate 2012). Other major cities include Tiraspol with a population of 132,100, Balti with a population of 97,200, Tighina (Bender) with a population of 90,600 (estimate 2012). Moldova is divided into 32 administrative districts and two autonomous regions, Gagauzia and Transnistria.
Moldova’s economy is largely based on agriculture with over 60% of the population employed in this sector. The main crops grown are wheat, maize, sunflowers, vegetables and fruit. Livestock farming is also an important part of Moldova’s agricultural industry with pigs, sheep and cattle being reared for both meat and dairy production. Other industries include light manufacturing such as textiles, food processing, timber processing, wine production and energy production from hydroelectricity plants located along the Dniester River.
Despite having a relatively small economy compared to its neighbors Romania and Ukraine, Moldova has experienced steady economic growth since 2000 with GDP growing at an average rate of 5% per year since then. This growth has been largely driven by increased foreign investment in sectors such as manufacturing and tourism which have helped to boost employment levels within the country as well as providing additional revenue for government services such as healthcare and education.
The government has also implemented a number of reforms aimed at improving economic conditions for Moldovans including introducing a flat tax system to simplify taxation procedures for businesses operating within the country as well as measures to attract foreign direct investment (FDI). These reforms have helped to create a more attractive business environment in Moldova which has resulted in increased FDI flows into the country over recent years.
Despite these positive developments there are still some challenges facing Moldovan’s economy including high levels of poverty (over 25%), weak infrastructure (particularly roads) low levels of technological development (only 2% of GDP) and weak rule of law (corruption remains endemic). In addition there are ongoing disputes with neighboring countries over access to natural resources such as water which could potentially destabilize the region if not addressed appropriately.
Overall, however Moldova’s economic outlook remains positive due to its increasing integration into regional trade networks through initiatives such as the European Union’s Eastern Partnership program which provides access to new markets for its products as well increased foreign investment flows into the country allowing it to continue its development path towards greater prosperity for all its citizens.
Foreign Trade of Moldova
Moldova’s foreign trade has been a key factor in its economic success over the last two decades. The country’s export and import figures have grown steadily since 2000, with exports increasing more than imports in recent years. Moldova’s main exports are agricultural products such as vegetables, fruits, and wine, as well as manufactured goods including textiles and footwear. Its main trading partners include countries in the European Union (EU) such as Romania, Germany, Italy, Spain and France.
In terms of imports, Moldova relies heavily on energy resources from Russia. It also imports a wide range of manufactured products such as machinery and transport equipment from other EU countries. Other important sources of imports include Ukraine and China. In addition to this Moldova also trades with non-EU countries in the region such as Belarus and Kazakhstan.
Moldova’s foreign trade is largely conducted through bilateral agreements between individual countries or through regional trade blocs such as the Commonwealth of Independent States (CIS). The country is also a member of the World Trade Organization (WTO) which provides access to global markets for its goods and services.
In terms of foreign investment flows into Moldova there has been an increase in recent years due to improved business conditions within the country which have made it an attractive destination for international investors looking for new opportunities outside their home markets. This has resulted in increased FDI inflows into sectors such as manufacturing, energy production and tourism which have helped to drive economic growth within Moldova over recent years.
Overall, Moldova’s foreign trade has been an important factor in its economic success over the last two decades with increased levels of exports helping to boost employment levels within the country while increased inflows of FDI have provided additional revenue for government services such as healthcare and education. As a result there is every reason to believe that this trend will continue into the future allowing Moldovans to benefit even further from increased levels of prosperity due to their increasingly integrated market position within global trading networks.
Major Trading Partners of Moldova
Moldova’s major trading partners are countries in the European Union (EU). Romania is Moldova’s largest trading partner, accounting for around 30% of its total imports and exports. Other important EU partners include Germany, Italy, Spain, and France. These countries account for more than 50% of Moldova’s total foreign trade.
In terms of imports, Moldova relies heavily on energy resources from Russia. This includes oil and natural gas as well as coal and electricity. It also imports a wide range of manufactured products such as machinery and transport equipment from other EU countries. Other important sources of imports include Ukraine and China. In addition to this Moldova also trades with non-EU countries in the region such as Belarus and Kazakhstan.
Moldova’s foreign trade is largely conducted through bilateral agreements between individual countries or through regional trade blocs such as the Commonwealth of Independent States (CIS). The country is also a member of the World Trade Organization (WTO) which provides access to global markets for its goods and services.
In terms of exports, Moldova has seen a steady increase in recent years due to increased demand for agricultural products such as fruits and vegetables from Europe, Asia, North America and other regions around the world. In addition to this it also exports a large amount of wine, textiles and footwear which are popular with consumers in many different markets around the world.
Overall, Moldova’s major trading partners are mainly located within Europe but it does have some important non-European relationships that contribute significantly to its overall foreign trade figures. In particular Russia is an important source of energy supplies while Ukraine provides both imports as well as export markets for various manufactured goods produced within Moldovan factories. Similarly Belarus is an important market for agricultural products while Kazakhstan is an increasingly important destination for finished consumer goods including textiles and footwear produced in Moldovan factories.
Major Imports and Exports of Moldova
Moldova is a small country in Eastern Europe, located between Romania and Ukraine. The major imports of Moldova include machinery and equipment, chemicals, fuels and lubricants, foodstuffs, minerals, textiles and clothing. Machinery and equipment make up the largest portion of imports with over 24% of total imports in 2017. This includes agricultural machinery such as tractors and combine harvesters as well as industrial machinery such as metalworking machines. Chemicals are the second largest import category with 19% of total imports in 2017. This includes fertilizers for agricultural production as well as chemicals for industrial use. Fuels and lubricants make up 12% of total imports in 2017. Foodstuffs account for 11% of total imports in 2017 with mostly grains, sugar and other food products coming from outside the country. Minerals also make up 11% of total imports in 2017 including minerals such as iron ore from Ukraine or Kazakhstan to be used by local steel producers. Textiles and clothing account for 8% of total imports in 2017 with most coming from Turkey or China to be used by local garment producers.
As far as exports go, Moldova’s primary exports are agricultural goods including fruits, vegetables, wine and other food products which make up 29% of total exports in 2017. Other goods exported include textiles (19%), metals (12%), chemicals (9%) and machinery (8%). In addition to these goods being exported to other countries around the world Moldova also serves as a transit point for goods being imported into Romania or Ukraine so there is some trade activity related to this transit trade which accounts for 7% of Moldovan exports in 2017.