Moldova's GDP Grew by 3,6% in 1Q
OREANDA-NEWS. June 19, 2014. This was reported by the National Bureau of Statistics, noting that, in January-March 2014, the country's GDP amounted to 21 billion 469 million lei.
Thus, the gross value added in sector of goods has increased in comparison with the same period of 2013 by 7.1%, positively influencing (+1,3%) the GDP dynamics. Gross value added in agriculture, hunting, forestry, fishing, fish-farming and industry exceeded the level of corresponding period of 2013 by 7.2% and 7.1%, positively affecting the dynamics of GDP by 0.3% and 1%, respectively.
The contribution of sector of goods in formation of GDP amounted to 19.9%. Gross value added in sector of services increased by 3.6% influencing GDP’s growth by 2.3%. The most significant growth of gross value added was registered in the construction sector (+8,5%), in wholesale and retail trade (+5,4%), in transport and communications (+4.9%) and in sector of other services (+2.3%). In sector of other services, significant growth was registered in social, personal services, in provision of services by the household domestic employees (+7,5%), financial intermediation (+7.0%), hotels and restaurants (+4,7%), transactions with the real estate, lease and services to enterprises (+3,0%).
A slight increase was registered in the health and social services (+0.7%) as well as in public administration (+0,1%). Gross value added in education has decreased by 2.8%. The contribution of gross value added of the sector of services in formation of GDP in January-March this year amounted to 65.9%. Revenue received from the taxes on products increased by 0.5%, making 16.9% in GDP. Final consumption increased by 0.4%, positively influencing GDP growth by 0,5%. The growth of final consumption was due to the increase of final consumption of households by 0.6%.
Gross fixed capital increased in the first quarter of this year by 8.6%, amounting to 23.2% of GDP. Exports of goods and services grew by 3.4%, while imports of goods and services decreased by 0.5%. As InfoMarket agency informed before, the Ministry of Economy lowered forecast of GDP growth by 2014 from 4-5% up to 3.5%. The IMF lowered the forecast of GDP growth in Moldova for this year from 3.5% up to 2.25%. Due to the Russian-Ukrainian crisis EBRD has reduced the forecast of GDP growth of Moldova for 2014 from 3.5% up to 2%. The World Bank has lowered the forecast of GDP growth of Moldova from 4% up to 3%, respectively.
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