Exports have been on a downward trend and this trend will continue for at least two more quarters, according to the IDIS Viitorul economist Veaceslav Ioniță who analyzed the data of the National Bureau of Statistics for the first three months of 2020.
The expert said Moldova had exhausted its growth potential and the country's situation got even more complicated due to the coronavirus pandemic. He believes the decline in exports will affect most basic branches of the economy, such as winemaking, the textile, agricultural and pharmaceutical industries.
According to data, in January-March 2020, the value of exports of goods was over $ 670 million, 7.9 percent less than the same period last year.
Veaceslav Ioniță claimed that the decrease was largely determined by the pandemic crisis, but there were other factors as well.
"For two years our export has been capped at 2.7 billion dollars, which means that we have exhausted our exports growth factors".
Exports of goods to the countries of the European Union amounted to almost $ 450 million, 2.5% less than in January-March 2019. As for the CIS area, exports to these countries were worth almost $ 95 million, down 7.1 percent compared to the same period last year.
At most, exports of petroleum products fell by more than 63 percent, and exports of telecommunications equipment fell by almost 58 percent. Exports of specialized machines and appliances for industries fell by almost 54 percent, and exports of dairy products and eggs - by more than 50%.
On the other hand, the export of plastics increased by almost 50 percent. The export of raw hides and skins increased by almost 37 percent. In the first quarter of the year, our country exported several office machines and appliances, as well as industrial appliances.
Veaceslav Ioniță claimed that the decrease would continue.
"If this year we really have a decrease in exports of about 300 million dollars, which is most likely, then we practically go back to 2013 and this shows that we can not get out of this vicious circle. "