OREANDA-NEWS. January 26, 2015. The current account deficit to GDP ratio was 3.8% in January-September 2014 against 6.8% in the same period of the past year, it was said at NBM. Moldova’s exports increased 1.6% to USD2 billion 454.03 million, the imports declining 1.7% to USD 4 billion 573.94 million.

The decrease in the imports has balanced the trade balance and bridged the gap in the current account deficit by 2%. The exports covered the imports 53.7%, up 0.1 p.p. The share of the trade deficit in Moldova’s GDP shrank 0.8 pp. to 35.7%. Moldova’s foreign trade in goods and services varied from region to region.

In particular, the exports to non-CIS countries increased 6.5%, the imports growing 2.1%. A share of non-CIS countries in Moldova’s foreign trade was 70.2% of Moldova's exports against 64.9% reported for January-September 2013 and 72% of Moldova’s imports against 69.7% reported for the same period of the past year.

At the same time, Moldova’s exports and imports to CIS reduced 16.5% and 10.4% respectively, which is explained by lower volumes of the foreign trade with Russia and Ukraine. Moldova’s exports to Belarus increased 1.5 times, the import dripping 26.6%. Moldova’s exports to the EU in the reporting period increased 14.9% to 52.1% of Moldova’s exports against 45.2% recorded in the same period of 2013. The imports from the EU grew 7.2%, their share in Moldova’s imports rising 4.9 p.p. to 56%. Over the first 9 months of 2014, Moldova's alcoholic exports decreased 30% to USD 130.58 million.

The decrease is explained by the fall in deliveries to Russia. The imports of energy, electricity excluded, shrank 3.8%. The electricity import contracted 39.8%. The deficit of the services trade was USD 30.23 million compared to the surplus of USD 13,39 recorded in the same period of 2013. The services imports increased 3.4%, while the services exports reduced 2.9%. According to NBM, the liberalized visa regime for Moldova’s citizens contributed into the growth in services imports, including transportation ones.

The deficit of Moldova’s foreign trade was USD 755.39 million in the reporting period, up 1.7% compared to the same period of 2013. It was covered 89.3% thanks to the favourable balance of incomes and current transfers. The volume of Moldova’s foreign trade amounted to USD 2 billion 388.97 million, down 4.6%. The imports costs were covered by exports receipts 54.8%, up 1.6 p.p. compared to the same period of the past year.