Business in Moldova

Business in Moldova

Moldova is a small developing economy in Eastern Europe. In recent years, the country has made progress in European integration and business deregulation and ranked 44th in Doing Business ranking, ahead of a number of EU member states such as Romania, Hungary, and Bulgaria.

In 2017 the GDP of Moldova amounted to 7.3 billion and 2062 per capita. Moldova is experiencing sustained economic growth, reinforced by favorable conditions in agriculture and strong private consumption.

Currently the main objectives are the continuous economic stabilization, key economic reforms promotion, and the creation of a rule-based business environment.

Source: The World Bank in Moldova. Country Snapshot

As for production, the improvement was mainly due to retail and wholesale trade (+ 1.3%), agricultural (+ 1%), and industry growth (+ 0.4%).

According to the forecasts of The World Bank, the growth momentum will continue in 2018 (an increase of 3.8%) and 2019 (an increase of 3.5%), facilitated by increased consumption and investments, especially investments from the state.

Population of Moldova

The population of Moldova is 2,9 million people.

More than half of the country’s population (59%) are the residents of rural areas. 41% of the population dwells in the urban area. 62% of citizens live in the northern and central parts of the country.

Population distribution by sex: 53% – women, 47% – men.

Confectionery market

The total import of confectionery products to Moldova in 2017 exceeded 21 thousand tons.

Ukraine is import leader; it imports 66% of confectionery.

The second place goes to Russia (16%), the third – to Romania (5%).

Among the confectionery products sales channels traditional retail shows the clear dominance.

Supermarket chains lag behind and make up less than 40% of sales.

Among seven key clients, one retail network is dominant. The number of chain stores Linella and UniMarket exceeds the number of other stores combined.

Market Review (in Russian)