Veaceslav Ioniță: Last year, the trade of the Republic of Moldova with the EU countries exceeded 7 billion dollars
Last year, the trade of the Republic of Moldova with the countries of the European Union exceeded 7 billion dollars. Thus, 4.6 billion represented imports from the EU, and 2.5 - Moldovan exports, claims the expert in economic policies Veaceslav Ioniță. According to him, from 1996 until 2000, the main partner of the Republic of Moldova was the CIS, which annually held 63% of all Moldovan exports. Currently, however, the same share is held by exports to the EU.
Economic analyst Veaceslav Ioniță claims that in 2022 Moldovan trade was strongly influenced by the war in Ukraine. Thus, currently, in the exports made by the Republic of Moldova, oil and agricultural products prevail, said the expert.
Veaceslav Ioniță also stated that, until 2005, the trade of the Republic of Moldova with the European Union was over 30 percent. Only in 2006, when the Russian Federation imposed a wine embargo on our country, the producers diversified their export destinations.
"Currently, oil and agricultural products prevail, which do not reflect the real exports of the Republic of Moldova. If in 2011 we mostly exported textiles; plant and animal production; electrical machinery, apparatus and equipment; food; fats and oils. Now, the most exported machines, appliances and electrical equipment – 28%. It is the result of the work in the Free Economic Zones, of the investments of the last 10 years in these zones. Vegetable products remained at the same level, textiles remained at the same place, but increased in volume. The food products remained the same. The furniture industry has grown a lot. The Free Trade Agreement with the EU allowed the export of furniture. The furniture industry, which was not in the top 10 exported products, is now in the top 5. It has reached the fourth share in Moldovan exports to the EU. More than 200 million dollars annually, a performance not to be ignored", said the economic analyst.
According to Veaceslav Ioniță, many people mistakenly believe that foreign trade on the left side of the Nistru is predominantly with the CIS countries.
However, the expert states that the export volume to the CIS of those from the Transnistrian region is dropping, just like on the right bank.
