The economy of the Republic of Moldova posted an unexpected growth of 5.2 percent in the third quarter of 2025 compared with the same period in 2024, according to data from the National Bureau of Statistics. Despite this rebound, economic growth reached only 2.0 percent in the first nine months of the year, as the summer recovery failed to fully offset weaknesses from earlier months, bani.md reports.
Agriculture drove growth, contributing 2.1 percentage points to GDP after gross value added increased by 15 percent, once again highlighting the economy’s dependence on weather conditions. Construction added 0.7 percentage points, while manufacturing and real estate transactions contributed only 0.2 percentage points each.
Several sectors weighed on performance. Accommodation and food services declined by 1.6 percent, and other service activities fell by 7.6 percent, signaling weak domestic demand. Household activities dropped sharply by 27.8 percent, although their direct impact on GDP remained limited.
The state played a growing role in economic expansion. Net taxes on products increased by 11.1 percent and contributed 1.4 percentage points to GDP growth, showing that fiscal revenues, rather than productivity gains, accounted for a significant share of the advance.
From the expenditure side, investment supported growth. Gross fixed capital formation rose by 17.9 percent and contributed 3.7 percentage points, while household consumption increased by 2.9 percent. Total exports of goods and services grew by 14 percent, but a 5.5 percent rise in imports reduced GDP growth by 3.1 percentage points.
Cumulative data paint a more modest picture. Between January and September 2025, GDP reached 257.3 billion lei, with real growth of 2.0 percent. Agriculture and construction remained key growth pillars, while manufacturing fell by 1.1 percent, real estate transactions by 2.0 percent, and professional activities by 5.9 percent.
Compared with the region, Moldova outperformed the EU average growth of 1.6 percent and Romania’s 1.2 percent in the third quarter, but it lagged far behind stronger performers such as Ireland, which recorded growth of 10.8 percent.
Overall, while the 5.2 percent expansion in the third quarter looks encouraging, the data show that Moldova’s economy remains heavily reliant on agriculture, public investment, and imports, with limited momentum from industry and high value added services.