Vladimir Golovatiuc
Exports of domestic goods in January–June 2026 totaled 1,309.3 million euros (79.3% of total exports), up 16.4% from the same period in 2025. This contributed to a 12.6% increase in the total value of exports.
The picture for re-exports is also quite favorable. They totaled 341.2 million euros (20.7% of total exports), which is 0.3% less than during the same period in 2025.
At the same time, the share of foreign goods re-exported after undergoing substantial processing in Moldova accounted for 14.3% of total exports, while traditional re-exports of foreign goods accounted for 6.4%.
It is noteworthy that export growth began exactly one year ago; prior to that, exports had been steadily declining for two years. This also means that next month, the year-over-year growth rate of exports may be lower or even turn negative, as the comparative base will increase.
What Is Driving Export Growth
In the export mix from January through June 2026, the following product groups accounted for significant shares: machinery, electrical appliances, and their parts (15.3% of total exports); oilseeds and fruits (14.9%); grains and grain products (10.7%); vegetables and fruits (9.8%); clothing and accessories (7.7%); alcoholic and non-alcoholic beverages (5.5%).
In the first quarter of 2026, Moldova’s exports grew by 10%, and in the first half of the year, by 12.5%. According to economic expert Vladimir Golovatyuk, this growth is driven by an increase in agricultural and food industry production overall, against the backdrop of a bumper harvest in 2025. However, the long-term outlook remains uncertain due to the poor quality of economic growth and the high trade deficit.
“If the Moldovan government does not take urgent action to increase the country’s export potential, the medium-term prospects for further export growth may be in question,” Golovatyuk noted.
Imports Weigh Heavily
Moldova imported nearly 4.99 billion euros worth of goods over the first half of the year—three times more than it exported.
From January through June 2026, the country imported 6.5% more goods than in the same period a year earlier.
Imports of petroleum products rose particularly sharply over the year—by 23.9%—as did those of natural gas (11%) and fertilizers (33.7%), largely due to rising prices for these goods. Purchases of telecommunications equipment from abroad also showed significant growth—16.3%.
The trade deficit continues to grow
The significant gap between exports and imports of goods led to a trade deficit of 3,335.2 million euros in January–June 2026, which is 120.1 million euros (+3.7%) higher than the deficit recorded during the corresponding period of 2025.
Vladimir Golovatyuk noted that the growth of the trade deficit has slowed, and at one point during this half-year it was even negative (-1.6%).
“Exports currently cover only 33.1% of imports. However, a year ago, the figure was even worse—31.3%,” the economist noted.
To reduce the trade deficit, it is not enough to simply increase exports; the structure of exports must also be shifted toward a higher share of high-value-added goods, Golovatyuk noted.
