Economic Relations
Bilateral economic relations have developed asymmetrically during the last 10 years, as a rule the Hungarian export prevailing over the Moldovan one. Taking into consideration the size of Moldova (33.800 km2, 3,6 M. inhabitants) the volume of Hungarian export has been quite substantial in comparison with other CIS countries. Moldova has been the 5th most important trading partner for Hungary in the CIS region for years.
In 2009 the signs of international economic crisis imposed their effect on bilateral trade turnover. The volume of export reached only 64,8 M dollars, resulting a 34% decrease in comparison with the last year’s results. The import of Moldovan goods to Hungary fall by 56% and attained a total of 4,9 M dollars. The dynamic growth of recent years refracted and the total turnover fell back to the amount recorded in 2006.
The trade volume between the two countries started to grow, again, from 2010 – equalling to 136,36 M dollars in 2011. This volume far exceeds the greatest volume overturn of the trade in 2008 (97,6 million dollars). The rate of Hungarian import from Moldova is: 23 M dollars.
Traditionally there are good opportunities for bilateral economic cooperation in the following sectors of economy: agriculture (providing technologies for processing industry, modernization of slaughterhouses, forage export, share of stock-raising technologies, harmonization and implementation of European phytosanitary and veterinary measures) construction, telecommunications, pharmaceutical industry and infrastructure development in power generation sector.