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Part of Romania during the interwar period, Moldova was incorporated into the Soviet Union at the close of World War II. Although the country has been independent from the USSR since 1991, Russian forces have remained on Moldovan territory east of the Dniester River supporting a Transnistrian separatist region with a Slavic majority population of mostly Ukrainians and Russians. One of the poorest nations in Europe, Moldova became the first former Soviet state to elect a Communist, Vladimir VORONIN, as its president in 2001. VORONIN served as Moldova's president until he resigned in September 2009, following the opposition's gain of a narrow majority in July parliamentary elections and the Communist Party's (PCRM) subsequent inability to attract the three-fifths of parliamentary votes required to elect a president. Moldova's four opposition parties formed a new coalition, the Alliance for European Integration (AEI), which has acted as Moldova's governing coalition since. Moldova experienced significant political uncertainty between 2009 and early 2012, holding three general elections and numerous presidential ballots in parliament, all of which failed to secure a president. Following November 2010 parliamentary elections, a reconstituted AEI-coalition consisting of the Liberal Democratic Party, the Liberal Party, and the Democratic Party formed a government, and in March 2012 were finally able to elect an independent as president.


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Economy

Economy - overview
Moldova remains one of the poorest countries in Europe despite recent progress from its small economic base. It enjoys a favorable climate and good farmland but has no major mineral deposits. As a result, the economy depends heavily on agriculture, featuring fruits, vegetables, wine, and tobacco. Moldova must import almost all of its energy supplies. Moldova's dependence on Russian energy was underscored at the end of 2005, when a Russian-owned electrical station in Moldova's separatist Transnistria region cut off power to Moldova and Russia's Gazprom cut off natural gas in disputes over pricing. In January 2009, gas supplies were cut during a dispute between Russia and Ukraine. Previous Russian decisions to ban Moldovan wine and agricultural products, coupled with its decision to double the price Moldova paid for Russian natural gas, have hurt economic growth in the past. The onset of the global financial crisis and poor economic conditions in Moldova's main foreign markets caused GDP to fall 6% in 2009. Unemployment almost doubled and inflation dropped to -0.1%, a record low. Moldova's IMF agreement expired in May 2009. In fall 2009, the IMF allocated $186 million to Moldova to cover its immediate budgetary needs, and the government signed a new agreement with the IMF in January 2010 for a program worth $574 million. In 2010, an upturn in the world economy boosted GDP growth to about 7% per year and inflation to more than 7%. Economic reforms have been slow because of corruption and strong political forces backing government controls. Nevertheless, the government's primary goal of EU integration has resulted in some market-oriented progress. The granting of EU trade preferences should encourage higher growth rates, but the agreements are unlikely to serve as a panacea, given the extent to which export success depends on higher quality standards and other factors. The economy has made a modest recovery, growing by 6% in 2011, but remains vulnerable to political uncertainty, weak administrative capacity, vested bureaucratic interests, higher fuel prices and the concerns of foreign investors as well as the presence of an illegal separatist regime in Moldova's Transnistria region.

Gdp (purchasing power parity) World Ranking: 148
$12.15 billion (2011 est.)
$11.42 billion (2010 est.)
$10.66 billion (2009 est.)
Note Data are in 2011 US dollars

Gdp (official exchange rate)
$7.003 billion (2011 est.)

Gdp - real growth rate World Ranking: 40
6.4% (2011 est.)
7.1% (2010 est.)
-6% (2009 est.)

Gdp - per capita (ppp) World Ranking: 165
$3,400 (2011 est.)
$3,200 (2010 est.)
$3,000 (2009 est.)
Note Data are in 2011 US dollars

Gdp - composition by sector
Agriculture 16.2%
Industry 20.3%
Services 63.5% (2011 est.)

Labor force World Ranking: 135
1.27 million (2011 est.)

Labor force - by occupation
Agriculture 27.5%
Industry 12.7%
Services 59.8% (2005 est.)

Unemployment rate World Ranking: 76
6.7% (2011 est.)
7.5% (2010 est.)

Population below poverty line
21.9% (2010 est.)

Household income or consumption by percentage share
Lowest 10% 3.3%
Highest 10% 26% (2010 est.)

Distribution of family income - gini index World Ranking: 72
38 (2008)
33.2 (2003)

Investment (gross fixed) World Ranking: 53
23.5% of GDP (2011 est.)

Budget
Revenues $2.676 billion
Expenditures $2.7 billion (2011 est.)

Taxes and other revenues World Ranking: 54
38.2% of GDP (2011 est.)

Budget surplus (+) or deficit (-) World Ranking: 49
-0.3% of GDP (2011 est.)

Public debt World Ranking: 109
29.3% of GDP (2011 est.)
21.5% of GDP (2010 est.)

Inflation rate (consumer prices) World Ranking: 163
7.6% (2011 est.)
7.4% (2010 est.)

Commercial bank prime lending rate World Ranking: 32
14.44% (31 December 2011 est.)
16.36% (31 December 2010 est.)

Stock of narrow money World Ranking: 132
$1.777 billion (31 December 2011 est.)
$1.293 billion (31 December 2010 est.)

Stock of broad money World Ranking: 135
$3.498 billion (31 December 2011 est.)
$3.049 billion (31 December 2010 est.)

Stock of domestic credit World Ranking: 131
$2.562 billion (31 December 2011 est.)
$2.199 billion (31 December 2010 est.)

Market value of publicly traded shares
$22 million (2010)

Agriculture - products
Vegetables, fruits, grapes, grain, sugar beets, sunflower seed, tobacco; beef, milk; wine

Industries
Sugar, vegetable oil, food processing, agricultural machinery; foundry equipment, refrigerators and freezers, washing machines; hosiery, shoes, textiles

Industrial production growth rate World Ranking: 39
7.1% (2011 est.)

Electricity - production World Ranking: 123
3.412 billion kWh (2008 est.)

Electricity - consumption World Ranking: 119
4.463 billion kWh (2008 est.)

Electricity - exports
0 kWh (2008 est.)

Electricity - imports
2.958 billion kWh (2008 est.)

Oil - production World Ranking: 200
0 bbl/day (2010 est.)

Oil - consumption World Ranking: 128
20,000 bbl/day (2010 est.)

Oil - exports World Ranking: 120
740.9 bbl/day (2009 est.)

Oil - imports World Ranking: 130
14,730 bbl/day (2009 est.)

Oil - proved reserves World Ranking: 164
0 bbl (1 January 2011 est.)

Natural gas - production World Ranking: 92
60,000 cu m (2010 est.)

Natural gas - consumption World Ranking: 70
3.176 billion cu m (2010 est.)

Natural gas - exports World Ranking: 145
0 cu m (2010 est.)

Natural gas - imports World Ranking: 44
2.33 billion cu m (2009 est.)

Natural gas - proved reserves World Ranking: 207
0 cu m (1 January 2011 est.)

Current account balance World Ranking: 117
-$801.5 million (2011 est.)
-$459.8 million (2010 est.)

Exports World Ranking: 135
$2.282 billion (2011 est.)
$1.59 billion (2010 est.)

Exports - commodities
Foodstuffs, textiles, machinery

Exports - partners
Italy 9.7%, Ukraine 6.9%, Germany 5%, UK 4.6% (2011)

Imports World Ranking: 127
$5.147 billion (2011 est.)
$3.81 billion (2010 est.)

Imports - commodities
Mineral products and fuel, machinery and equipment, chemicals, textiles

Imports - partners
Italy 6.7%, Ukraine 12.3%, Romania 11.1%, China 7.7%, Germany 7.7%, Turkey 7.1% (2011 est.)

Reserves of foreign exchange and gold World Ranking: 119
$1.965 billion (31 December 2011 est.)
$1.718 billion (31 December 2010 est.)

Debt - external World Ranking: 115
$5.2 billion (31 December 2011 est.)
$4.615 billion (31 December 2010 est.)

Stock of direct foreign investment - at home World Ranking: 88
$3.1 billion (30 September 2011 est.)
$2.649 billion (1 January 2010 est.)

Stock of direct foreign investment - abroad World Ranking: 83
$75.25 million (30 September 2011)
$62.44 million (1 January 2010)

Exchange rates
Moldovan lei (MDL) per US dollar -
11.739 (2011 est.)
12.369 (2010 est.)
11.11 (2009)
10.326 (2008)
12.177 (2007)

Fiscal year
Calendar year


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  Moldova (Chisinau):


  GPS points from Moldova (Chisinau)

Saca Straseni

Isvoarele Falesti

Vul'peshty Ungheni

Novyy Goyan Stinga Nistrului

Buciusca Rezina

Sukharna Rezina

Ripa Lacuri Orhei

Artimonesti Cimislia




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