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 Monitoring→Economy→The Socioeconomic Environment

Economic Policies on December 1–15, 2010

Economic indicators

GDP increases, people do not feel it…

According to BNS Moldova’s economy registered a 6.5% increase in T1-T3’2010 compared to late 2009. In January-September 2010, the Moldovan enterprises have produced goods and services that amounted to 52.21 billion Moldovan lei. Gross added value produced in the goods sector increased by 6.5% compared to the same period of last year. Agriculture, hunting, forestry, fishery, pisciculture and industry registered a growth of the gross added value compared to last year by 6.6% and 6.4% respectively.

Gross added value produced in the service sector increased compared to the same period of the previous year by 5.1%. Growth was determined significantly by the increase in gross value added in transport means and communications (by 8.5%), wholesale and retail trade (by more than 6%) and construction (by nearly 4%).

Statistics also show that the amount of taxes collected in the national public budget exceeded by 14% the level of the previous year period, but also due to the increase of some indirect taxes. Taxes on products volume contribution to GDP was about 17% in January-September 2010 compared to 16% in January-September 2009. Total final consumption increased by just over 4% compared to the corresponding period of last year. Exports and imports of goods and services increased by about 8% and by less than 12% respectively compared to last year.

The incomes and the expences of the population

Apparently Moldovans live better…

The same BNS data show that T3’2010 disposable income of the population amount to a monthly average of 1337 Moldovan lei per person, increasing by 12% compared to the same period of 2009. In real terms (adjusted to consumer price index, i.e. inflation rate) the household income rose by about 4%. Wage payments are the most important source of income, about 45% of the total revenues available, their contribution decreasing by more than 2% compared to T3’2009.

Income from social benefits contributed to household income with 18.5%. Revenue growth in this period was especially as a result of the increase in income in individual agricultural activity. An important source of forming household income remain money transfers from abroad (remittances), their contribution being about 17% or more than 2% more than the same period of 2009.

Depending on residence, it is found that the income of urban population was on average by 430 Moldovan lei or 37% higher than that of the rural population. In urban areas, the main source of income is wage labour, which provided the household income ratio with about 60%. In rural areas, the most important source of income is also the wage labour (30%), but its contribution is almost 2 times lower than in urban areas. Revenues received from individual agricultural activity have provided about 18% of total disposable income. Most of the income from farming is represented by the value of the own resources products (90%).

The average monthly consumption expenditure of the population during the period covered have averaged to 1463 Moldovan lei per person monthly, increasing by over 12%compared to the same period of the previous year. Most expenditure were intended to cover food consumption needs — 37.5%, this is actually an evidence of a poor population. To maintain the house a person spent in the average about 20% of the total consumption expenditure. Other expenses have been made for health (6.5%), communications (4.5%), transportation (5%), housing facilities (more than 4%), education (1.5%) etc.

November 15–30, 2010 January 1–16, 2011