Balance-of-trade deficit up over 50%

The considerable discrepancy in exports and imports in the first five months of this year have led to the accumulation of a balance-of-trade deficit of US$1.281 billion, an increase of 54% (US$448.3 million) compared with the corresponding period last year.

According to the National Bureau of Statistics, the January-May imports totaled US$1.890 billion USD, while exports only US$608.6 million. The degree of covering imports with exports was 32.2%, a decrease of 4.6% compared with January-May 2007.

Moldova’s negative trade balance with the EU rose by US$179.2 million to US$529.7 million, while with the CIS countries - by US$116.2 million to US$424.5 million.

Moldova had a trade deficit of US$303.7 million with Ukraine, of US$265.9 million with Russia, of US$246.5 million with Romania, of US$144.6 million with Germany, of U$123.5 million with Italy, of US$111.2 million with China, of US$91.1 million with Turkey, of US$78 million with Belarus.

The balance-of-trade deficit in 2007 was US$2.348,1 billion. Experts predict that the deficit this year might reach US$3 billion, value equal to the volume of Moldova’s foreign trade in 2004.

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