December 15 (SeeNews) - Moldova's economy expanded by 5.4% year-on-year in real terms in the third quarter of 2017, mainly on the back of successful performance in the agricultural sector and rising consumption, the country's statistical office said on Friday.
Calculated in current prices, the country's gross domestic product (GDP) totalled 45.5 billion lei ($2.6 billion/2.2 billion euro) in the three months through September, the National Bureau of Statistics said in a statement.
Quarter-on-quarter, Moldova's GDP grew by 3.6%, according to seasonally adjusted data.
Growth in the third quarter was mainly driven by the agricultural, forestry and fishery sector, which expanded by 6% year-on-year.
Final household consumption in Moldova expanded by 5.4%, while gross fixed-capital formation rose 5.5% on the year in the third quarter.
Exports rose by an annual 9.8% and imports climbed by 10.7% in the third quarter.
In the first nine months of 2017, Moldova's GDP expanded by a real 3.8% year-on-year, reaching 109.4 billion lei. The agriculture sector led the rise, and final household consumption grew 4.6% on the year. Exports rose 12.8% on the year in the nine months through September, while imports were up 12.7%.
Moldova's economy grew by a revised 3.6% on the year in the second quarter of 2017.
Moldova’s GDP grew by 4.1% in 2016, supported by growth in agriculture output and in household consumption.
In November, the European Bank for Reconstruction and Development (EBRD) maintained its May projection for Moldova's economic growth in 2017 at 3.0%. For 2018, the bank forecasts economic growth of 3.5% in Moldova, the same rate of increase as in its previous forecast made in May.
Also in November, the IMF said it will consider making available to Moldova $22 million (19 million euro) under the country's current three-year $178 million credit facility extended in November 2016. In May, the IMF lent Moldova $21.5 million under the same credit facility.
(1 euro= 20.25 Moldovan lei)