The National Bank of Moldova published provisional international accounts for Q1 2025 showing a current account deficit of USD 1,020.50m (25.8% of GDP), up 2.3 times from Q1 2024. The capital account recorded net inflows of USD 12.74m and the financial account net inflows of USD 901.07m, while the net international investment position stood at minus USD 6,037.33m (33.0% of GDP) and gross external debt totalled USD 10,517.15m (57.4% of GDP). The wider current account deficit reflected a larger goods trade deficit of USD 1,625.72m (+49.9% year on year) as imports rose 23.1% to USD 2,316.75m and goods exports fell 13.3% to USD 691.03m, including declines to the European Union and the Commonwealth of Independent States. The services surplus eased to USD 200.20m (−4.8%) as services imports (+18.9%) outpaced exports (+10.1%); information technology services exports rose to USD 181.61m and travel services exports to USD 162.59m. The primary income surplus narrowed to USD 4.65m as employee compensation receipts fell and direct investment income payable to non-residents increased, while the secondary income surplus rose 14.0% to USD 400.38m; personal remittances received by residents decreased 5.0% to USD 411.32m (10.4% of GDP). Official reserve assets were USD 5,441.80m and met the stated adequacy criteria, including 6.0 months of import coverage and 147.0% coverage of short-term external debt on a residual maturity basis. Gross external debt increased 3.0% over the quarter, with public external debt at USD 4,343.26m (41.3% of the total) and private external debt at USD 6,173.89m; short-term debt on a residual maturity basis was USD 3,702.44m, of which 61.7% comprised trade credits and advances.

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