Moldova's industry grew 7.9% in the first half; energy jumped 14.2%
Moldova's industry grew by 7.9% in the first half of this year compared to the same period in 2022. This growth was primarily driven by the manufacturing and energy sectors.
Data from the National Bureau of Statistics indicate that the energy sector grew by 14.2%, while the manufacturing industry grew by 7%.
In the energy sector, there is a noticeable trend toward greater independence and sustainable production. Approximately 53% of total electricity consumption is met by local production, and 60.6% of domestically produced energy comes from renewable sources.
Industrial sectors with the highest growth
In the manufacturing industry, growth trends varied significantly, with the most substantial progress observed in the following sectors, according to the Ministry of Economic Development and Digitalization:
- Metal constructions and metal products: +43.7%
- Textile industry: +17.1%
- Food industry: +14.6%
- Furniture industry: +11.4%
- Clothing industry: +4.3%
Additionally, the capital goods segment grew 16.5%, while the durable goods segment grew 12.9%.
According to the Ministry of Economic Development and Digitalization, "Increasing industrial production is vital for the economy of the Republic of Moldova, as it strengthens production capacities, develops companies, and creates a more competitive economy that is better connected to European markets."
Energy experts point out that the Republic of Moldova has significant potential for expanding its green energy production. However, the primary limitation is inadequate storage capacity.
A recent study by WatchDog.md indicates that without sufficient storage systems, producers may face disconnections during periods of surplus energy because the grid cannot absorb all the generated electricity instantaneously. Experts agree that expanding the storage infrastructure is crucial for the Republic of Moldova to fully utilize its production capabilities and enhance the overall flexibility of its energy system.
