July 17 (SeeNews) - Moldova's trade deficit rose by 19.1% on the year in the first five months of 2023, to $1.981 billion (1.763 billion euro), the statistical office said on Monday.
The country's exports fell 8% year-on-year in the January-May period, while imports increased by 3.5%, the statistical office said in a statement.
The European Union absorbed 61.3% of Moldova's exports between January and May and accounted for 48.3% of the country's imports.
In May alone, exports fell by an annual 19.1% to $336.5 million, while imports decreased by 8.2% to $709.1 million, resulting in a trade deficit of $372.6 million, up 4.5% year-on-year.
Details follow (in millions of U.S. dollars):
| |
Jan-May '23 |
y/y change |
| Exports |
1,725.5 |
-8.0% |
| Imports |
3,706.6 |
+3.5% |
| Trade balance |
1,981.1 |
+16.0% |
Moldova's trade deficit widened by 21.2% on the year to 4.884 billion dollars in 2022.