It was noted that in January-February 2026, imports of goods amounted to €1,520.7 million, down 0.6% compared to the corresponding period of 2025.
At the same time, in the first two months of this year, exports were valued at 550.4 million euros, an 11.6% increase compared to the same period last year.
This led to a slight improvement in the country’s balance of payments. The significant gap between exports and imports of goods in January-February 2026, although it led to the accumulation of a trade deficit of 970.3 million euros, but this figure was less by 66.4 million euros (-6.4%) than in the same period of 2025.
The share of re-exports also decreased
Another positive touch is the decrease in the share of re-exports in the total volume of goods shipped abroad.
The re-export of foreign goods in January-February 2026 amounted to 104.8 million euros (19.1% of total exports) – minus 1%. The share of foreign goods re-exported after substantial processing amounted to 12.9% of total exports, while classical re-export of foreign goods amounted to 6.2%.
What we export
The structure of exports shows that the economy is largely supported by agricultural and industrial products.
Seeds and oilseeds have the largest share (22.8%), followed by machinery and electrical appliances (14%), fruits and vegetables (11.1%), cereals and cereal products (7.8%), and clothing (6.9%) and beverages (5.4%).
Significant growth was recorded in exports of agricultural products, especially oilseeds and vegetable oils, as well as electrical equipment.
Where we send goods
Export of goods to the European Union countries in January-February reached 340 million euros, which is 10.6% more compared to the same period last year. At the same time, shipments to the Commonwealth of Independent States in January-February amounted to more than 34 million euros, an increase of 18.5% compared to the same period in 2025.
The most important destinations for Moldovan goods are Romania (26.4%), Turkey (15.8%), Italy (10%), Ukraine (9%), Czech Republic (8%) and Germany (5.1%), while imports mainly come from Romania (29%), China (14%), Ukraine (9.1%), Turkey (5.8%) and Germany (5.4%).
What we import
As far as imports are concerned, energy resources and industrial products dominate. The largest volumes are represented by gas and gas products (17.7%), petroleum products (7.1%), motor vehicles (7.1%), electrical equipment (6.8%) and electricity (5.6%). Pharmaceutical products (3%), telecommunication equipment (2.5%) and food products such as fruits and vegetables (3.3%) also account for a significant share.
Expert commentary
“The entire export growth was achieved through sales of agricultural products in fresh and processed form,” states economic analyst Volodymyr Golovatyuk.
In total, exports increased by 57 million euros, while exports of agro-industrial products by 67 million euros. That is, there is a decline in other areas. In general, agricultural products accounted for 54% of total exports, while a year ago their share amounted to 47%.
With the total value of exported agricultural products amounting to 300 million euros (in fresh and processed form), the supply of food industry goods, i.e. products with high added value (oil, canned food, wine, etc.) amounted to only 84 million, and with a decreasing trend. For example, in 2022, processed agricultural products were exported for 110 million euros, i.e. 24% more.
At the same time, imports of food products are increasing.
“In 2022 we imported these products for 54 million euros, and now for 96 million, that is 77% more,” notes Golovatyuk. And cites statistics on commodity items, the production of which was traditionally strong in Moldova.
Since 2022, imports of dairy products have increased by 67%, vegetable oil by 4 times, sugar by 2.2 times, canned fruits and vegetables almost twice, alcohol by 75%, etc.
“Actually, these are scary figures! Imports of vegetable oil, alcohol, canned fruits and vegetables and sugar are growing in Moldova,” the analyst notes.
(We would like to add from ourselves that media reports about imports of tomatoes from Russia’s Stavropol region have appeared).
“It turns out that we export mainly raw materials, i.e. products with low added value,” the economist concludes.
In order to change this situation, billions of dollars of investment are needed in processing, freezing, etc., and there must be a serious state program.
Such a program, among other things, should contain government actions, starting with the issues of financing or co-financing of the relevant expenditures, and ending with the problems of facilitating and promoting exports of these products.
At the same time, these measures should be prioritized by any government at both national and local levels, the economist concludes.
In any case, February 2026 will be remembered as a month in which exports increased, imports decreased and Moldova’s trade balance improved. Whether this was an accidental phenomenon or the beginning of a new favorable trend, time will tell.
