The National Bank of Moldova published preliminary data for Moldova’s international accounts for the first quarter of 2025, reporting a current account deficit of USD 1,020.50 million, a capital account surplus of USD 12.74 million and net financial account inflows of USD 901.07 million. At 31 March 2025, the net international investment position stood at -USD 6,037.33 million and gross external debt totalled USD 10,517.15 million. The current account deficit was 2.3 times higher than in Q1 2024, driven by a larger goods trade deficit alongside lower surpluses in primary income and services, while the secondary income surplus rose by 14.0 per cent. The current account deficit-to-GDP ratio was -25.8 per cent, up 14.2 percentage points year on year. The capital account surplus fell by 21.9 per cent year on year as net capital inflows to public administration declined by 44.5 per cent to USD 4.56 million, while private sector net transfer inflows increased by 1.3 per cent to USD 8.17 million. Financial account inflows reflected a USD 679.39 million decrease in residents’ external financial assets and a USD 221.68 million increase in residents’ liabilities to non-residents. The net international investment position-to-GDP ratio was 33.0 per cent, up 2.3 percentage points versus end-2024, with external assets at USD 8,169.69 million (-0.7 per cent) and liabilities at USD 14,207.02 million (+2.8 per cent). Gross external debt rose by 3.0 per cent over the quarter to USD 10,517.15 million (57.4 per cent of GDP), including public external debt of USD 4,343.26 million (41.3 per cent of the total) and private external debt of USD 6,173.89 million. The central bank also made available the full analytical material, related statistical tables and bulletin content, and updated MBP6 time series in its interactive database.

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