Welcome to the official website of the National Bank of Moldova!
×
Do you have good eyesight and want to turn this tool off?
Welcome to the official website of the National Bank of Moldova!
You can choose one of the most popular reports from the list:
International accounts of the Republic of Moldova, Quarter III 2017 (preliminary data)
In January-September 2017, the current account of the balance of payments recorded a deficit of US$ 532.56 million (of which US$ -207.62 in Q III 2017), which worsened by 87.7 percent as compared to January- September 2016. The capital account registered a deficit of US$ 17.88 million (of which US$ -5.46 million in Q III 2017) and the financial account recorded a net capital inflow of US$ 301.96 million (of which US$ 129.44 million in Q III 2017). The international investment position of the Republic of Moldova represented US$ -4,201.41 million at the end of Q III 2017, while the gross external debt of the Republic of Moldova reached US$ 6,742.97 million.
Table 1. Main macroeconomic indicators of the Republic of Moldova
|
2015 |
2016 |
2017 |
2016 |
2017 |
||
III |
III |
I |
II |
III |
I-III |
I-III |
|
Gross domestic product in current prices, MDl mil. |
35,995 |
39,901 |
29,670 |
34,251 |
45,523 |
98,281 |
109,444 |
Gross domestic product in current prices, US$ mill. |
1,875 |
2,016 |
1,487 |
1,826 |
2,540 |
4,942 |
5,800 |
GDP, physical volume indices, % |
96.4 |
106.5 |
103.1 |
102.5 |
105.4 |
103.3 |
103.8 |
Exports of goods, physical volume indices, % |
96.0 |
120.9 |
127.6 |
105.0 |
109.8 |
|
|
Exports of goods, unit value indices, % |
84.0 |
95.9 |
99.4 |
97.4 |
107.7 |
|
|
Imports of goods, physical volume indices, % |
95.0 |
111.5 |
120.1 |
113.3 |
113.4 |
|
|
Imports of goods, unit value indices, % |
78.0 |
94.2 |
99.7 |
100.8 |
107.9 |
|
|
Terms of trade, % |
107.7 |
101.8 |
99.7 |
96.6 |
99.8 |
|
|
Period average exchange rate, MDL/USD |
19.1982 |
19.7896 |
19.9556 |
18.7525 |
17.9208 |
19.8860 |
18.8689 |
Personal remittances / GDP, % |
20.1 |
18.1 |
22.6 |
21.5 |
16.4 |
20.6 |
19.7 |
FDI flows (net incurrence of liabilities) / GDP, % |
-1.2 |
3.4 |
2.8 |
1.9 |
2.8 |
2.2 |
2.5 |
Sourses: NBM, NBS
Table 2. Contribution of the main components to the evolution of the BOP current account(BPM6)
|
2015 |
2016 |
2017 |
2016 |
2017 |
I-III 2017 / I-III 2016 |
||
|
III |
III |
I |
II |
III |
I-III |
I-III |
Contribution |
% to GDP |
p. p. |
|||||||
Current account |
-6.7 |
-5.5 |
-8.6 |
-10.8 |
-8.2 |
-5.7 |
-9.2 |
-3.4 |
Trade balance |
-28.3 |
-23.9 |
-31.3 |
-33.7 |
-24.1 |
-28.1 |
-29.2 |
-1.1 |
Exports of goods and services |
31.3 |
33.5 |
44.7 |
36.2 |
31.8 |
36.8 |
36.8 |
-0.1 |
Imports of goods and services |
59.7 |
57.4 |
76.1 |
69.9 |
55.9 |
64.9 |
66.0 |
1.1 |
Primary income balance |
7.5 |
5.1 |
6.9 |
7.8 |
4.9 |
6.4 |
6.3 |
-0.1 |
Primary income inflow, of which: |
11.3 |
10.3 |
12.3 |
12.2 |
9.3 |
11.3 |
11.1 |
-0.2 |
Compensation of employees |
10.9 |
9.9 |
11.9 |
11.7 |
8.9 |
10.8 |
10.6 |
-0.2 |
Primary income outflow, of which: |
3.8 |
5.3 |
5.4 |
4.5 |
4.4 |
4.9 |
4.7 |
-0.1 |
Investment income |
2.7 |
4.4 |
4.2 |
3.3 |
3.6 |
3.8 |
3.7 |
-0.1 |
Secondary income balance |
14.1 |
13.4 |
15.9 |
15.2 |
11.0 |
15.9 |
13.7 |
-2.2 |
Secondary income inflow, of which: |
16.2 |
15.0 |
17.9 |
17.1 |
12.4 |
17.7 |
15.4 |
-2.4 |
Personal transfers |
10.3 |
9.5 |
11.9 |
10.9 |
8.4 |
11.2 |
10.2 |
-1.0 |
Current international cooperation |
2.4 |
2.0 |
2.0 |
2.2 |
1.4 |
2.5 |
1.8 |
-0.7 |
Secondary income outflow |
2.1 |
1.6 |
2.0 |
1.9 |
1.4 |
1.8 |
1.7 |
-0.1 |
Capital account |
1.1 |
-0.5 |
-0.4 |
-0.4 |
-0.2 |
-0.4 |
-0.3 |
0.1 |
Net borrowing (current and capital account balance) |
-5.6 |
-6.0 |
-9.0 |
-11.1 |
-8.4 |
-6.2 |
-9.5 |
-3.3 |
*percentage points
Table 3. Sources of coverage for the net borrowing, net financial flows, % to GDP
|
2015 |
2016 |
2017 |
|
|
2016 |
2017 |
I-III 2017 / I-III 2016 |
|
III |
III |
I |
II |
III |
I-III |
I-III |
Contribution |
% to GDP |
p. p. |
|||||||
Financial account |
-7.0 |
-3.0 |
-3.1 |
-6.9 |
-5.1 |
-5.0 |
-5.2 |
-0.2 |
Direct investment, of which: |
1.2 |
-3.3 |
-2.7 |
-1.5 |
-2.7 |
-1.9 |
-2.4 |
-0.5 |
Equity other than reinvestment of earnings |
-0.2 |
-0.6 |
-0.3 |
0.0 |
-0.4 |
-0.4 |
-0.3 |
0.2 |
Reinvestment of earnings |
-0.8 |
-2.9 |
-2.2 |
-0.9 |
-1.7 |
-2.0 |
-1.6 |
0.4 |
Debt instruments |
2.1 |
0.1 |
-0.2 |
-0.6 |
-0.6 |
0.6 |
-0.5 |
-1.1 |
Portfolio investment and financial derivatives |
0.0 |
0.0 |
-0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
Other investment, of which: |
-7.3 |
-13.7 |
-2.8 |
-11.1 |
-11.0 |
-11.8 |
-9.1 |
2.7 |
Currency and deposits |
-5.0 |
-8.4 |
-0.9 |
-4.5 |
-7.3 |
-8.0 |
-4.8 |
3.1 |
Loans |
-1.8 |
-2.7 |
-0.4 |
-2.3 |
-0.8 |
-0.6 |
-1.2 |
-0.6 |
Trade credit and advances |
-0.6 |
-1.7 |
-1.6 |
-3.9 |
-3.3 |
-2.5 |
-3.1 |
-0.6 |
Other accounts receivable / payable |
0.1 |
-0.9 |
0.1 |
-0.4 |
0.4 |
-0.7 |
0.1 |
0.8 |
Change in reserve assets |
-0.9 |
14.0 |
2.5 |
5.7 |
8.7 |
8.7 |
6.2 |
-2.4 |
Note: (-) – net capital inflow, (+) – net capital outflow
*percentage points
Table 4. Main indicators of the international investment position (BPM5)
|
31.12.2015 |
31.12.2016 |
31.03.2017 |
30.06.2017 |
30.09.2017 |
30.09.2017 / 31.12.2016 (%) |
Net IIP, US$ mill. |
-3,479.02 |
-3,550.57 |
-3,645.80 |
-3,998.40 |
-4,201.41 |
118.3 |
Stock of foreign assets / stock of foreign liabilities, % |
53.2 |
53.5 |
53.3 |
51.8 |
51.3 |
-2.2 p.p. |
Stock of direct investment, liabilities, US$ mill. |
2,980.08 |
3,037.51 |
3,128.09 |
3,399.19 |
3,574.34 |
117.7 |
Share of FDI in the stock of foreign liabilities, % |
40.1 |
39.7 |
40.0 |
41.0 |
41.4 |
1.7 p.p. |
Share of loans (without intercompany loans) in the stock of foreign liabilities, % |
41.2 |
41.1 |
40.7 |
39.7 |
38.9 |
-2.1 p.p. |
Stock of official reserve assets, US$ mill. |
1,756.81 |
2,205.93 |
2,256.45 |
2,388.74 |
2,629.41 |
119.2 |
Stock of reserve assets / Average monthly actual imports of goods and services (for 12 months), months |
4.7 |
5.9 |
5.8 |
5.9 |
6.2 |
104.7 |
*percentage points
Chart 1. Indices of reserve assets adequacy, at period-end, US$ million
Note: STD – short-term debt, OPL – other portfolio liabilities, M2 – broad money, export-export of goods and services. Criteria based on the IMF recommendations specified in “Assessing Reserve Adequacy - Specific Proposals", April 2015:
Table 5. Main indicators of the external debt (BPM6)
|
31.12.2015 |
31.12.2016 |
31.03.2017 |
30.06.2017 |
30.09.2017 |
30.09.2017 / 31.12.2016 (%) |
Gross external debt, US$ mill. |
6,104.21 |
6,235.23 |
6,323.63 |
6,557.58 |
6,742.97 |
108.1 |
Public and publicly guaranteed external debt, US$ mill. |
1,702.11 |
1,779.36 |
1,827.08 |
1,909.65 |
1,960.32 |
110.2 |
Long-term external debt, US$ mill. |
4,854.62 |
4,846.64 |
4,895.93 |
5,043.79 |
5,128.05 |
105.8 |
Share of public and publicly guaranteed external debt in gross external debt, % |
27.9 |
28.5 |
28.9 |
29.1 |
29.1 |
0.5 p.p. |
Share of long-term external debt in gross external debt, % |
79.5 |
77.7 |
77.4 |
76.9 |
76.1 |
-1.7 p.p. |
Share of international organizations and foreign governments (creditors) in the external debt in the form of loans and SDR allocations, % |
44.2 |
44.7 |
44.9 |
45.4 |
45.6 |
0.9 p.p. |
Official reserve assets / Short-term external debt, % |
140.6 |
158.9 |
158.0 |
157.8 |
162.8 |
4.0 p.p. |
Note: p. p. – percentage points
Details on international accounts evolution (balance of payments, international investment position and external debt) can be found in the analytical materials published on the official website of NBM:
Time series are available starting from:
Balance of payments (BPM6)
International investment position (BPM6)
External debt (BPM6)
Interactive database: