December 15 (SeeNews) - Moldova's economy expanded by 6.3% year-on-year in real terms in the third quarter of 2016, mainly on the back of successful performance of the agriculture, forestry and fishing sector, the country's statistical office said on Thursday.
Calculated at current prices, Moldova's gross domestic product (GDP) totalled 39.7 billion lei ($1.9 billion/1.8 billion euro) in the third quarter, the statistical office said in a statement.
Quarter-on-quarter, Moldova's GDP grew by 3% in the period July-September 2016, according to seasonally adjusted data.
The gross value added in the economy rose by 7.1%year-on-year, mainly boosted by the agriculture, forestry and fishing sector, which posted a 4.9% growth. The wholesale and retail sector plus the maintenance and repair of motor vehicles and motorcycles sector expanded by 0.8%, while mining, manufacturing, transport and storage, information and communication grew each by 0.2%.
Construction, public administration and defense, mandatory health insurance, education, health and social assistance had the biggest negative impact on GDP growth, each dropping by 0.1% on the year.
Final household consumption in Moldova expanded by 4.2%, while gross fixed-capital formation fell 0.3% on the year in the third quarter.
Exports and imports rose by an annual 1.2% and 7.4%, respectively, in the third quarter.
Looking at the first nine months of 2016, Moldova's GDP expanded by a real 3.3% year-on-year, reaching 98.3 billion lei. The agriculture, forestry and fishing sectors led the rise, followed by wholesale and retail, and IT&C sectors.
Final household consumption grew 2.9% on the year in the nine months through September. Exports fell 1.3% on the year through September, while imports were up 3.3%.
Moldova's economy contracted by 0.5% in real terms to 121.8 billion lei last year mainly due to setbacks in agriculture, trade, and public administration.
(1 euro = 21.3455 Moldovan lei)