National Bank of Moldova reports first quarter current account deficit narrowed to EUR 806.2 million

The National Bank of Moldova published provisional international accounts data for the first quarter of 2026 showing a current account deficit of EUR 806.2 million, down 17.1% from the same period of 2025. The improvement reflected a smaller goods trade deficit and larger surpluses in services and primary income, partly offset by a reduced secondary income surplus. The capital account recorded net inflows of EUR 7.2 million, while the financial account showed net inflows of EUR 641.7 million. The current account deficit was equal to 20.9% of GDP. Financial account inflows were driven by a net reduction of residents' external financial assets of EUR 264.2 million and a net increase in residents' liabilities to nonresidents of EUR 377.5 million. At March 31, 2026, Moldova's net international investment position stood at minus EUR 6.62 billion, equivalent to 36.5% of GDP, with external assets of EUR 7.33 billion and external liabilities of EUR 13.95 billion. Gross external debt totaled EUR 10.52 billion, or 58.0% of GDP, up 4.1% from the end of 2025. Public external debt accounted for 43.2% of the total at EUR 4.55 billion, while private external debt accounted for 56.8% at EUR 5.98 billion.