Moldova’s Economy Grows by 1.4% in Real Terms in First Quarter of 2024: Electricity and Manufacturing Sectors Lead

In the first quarter of 2024, Moldova’s economy grew by 1.4% in real adjusted terms, with significant contributions from the production and supply of electricity and thermal energy, gas, hot water, and air conditioning sector, as well as the manufacturing sector. According to the National Bureau of Statistics, in unadjusted terms, the economy expanded by 1.9% year-on-year during this period, with a total gross domestic product (GDP) of 67.4 billion lei ($3.8 billion/3.5 billion euro) at current prices.

Compared to the previous quarter, Moldova’s GDP saw a seasonally-adjusted increase of 2.5% in the January-March period. The gross value added in the economy also rose by 3.4% year-on-year in the first quarter, contributing 2.9 percentage points to the country’s unadjusted GDP growth rate. The production and supply of electricity and thermal energy, gas, hot water, and air conditioning sector led the GDP growth with a 1.2 percentage point contribution, while the manufacturing sector added 1.1 percentage points