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Economy of Moldova vs New Zealand compared: GDP & Debt

Updated on by Georank team

Moldova has a GDP of $18.2B compared to $260B for New Zealand, ranking 134/197 and 53/197 by economy size, respectively.

Moldova has $6.94B in government debt (36.3% of GDP), compared to $133B (55.3% of GDP) in New Zealand.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Moldova
GDP, current $

GDP, constant 2015 $
New Zealand
GDP, current $

GDP, constant 2015 $
Year GDP
Moldova New Zealand
Current $ Constant $ Current $ Constant $
1960 - - $5,536,098,360 $42,169,502,939
1961 - - $5,721,994,864 $43,567,695,918
1962 - - $6,133,158,532 $44,909,961,496
1963 - - $6,699,741,645 $47,650,420,052
1964 - - $7,340,766,415 $50,558,660,811
1965 - - $5,706,251,400 $53,648,670,594
1966 - - $5,917,437,693 $57,000,887,530
1967 - - $6,016,017,227 $54,384,875,095
1968 - - $5,228,045,415 $54,358,308,884
1969 - - $5,814,357,709 $59,899,960,124
1970 - - $6,495,605,331 $59,062,793,729
1971 - - $7,911,136,757 $61,298,590,947
1972 - - $9,567,331,065 $64,436,532,490
1973 - - $12,802,281,898 $69,462,760,982
1974 - - $13,940,981,798 $73,625,970,474
1975 - - $12,861,983,284 $72,351,001,836
1976 - - $13,604,832,424 $73,023,006,890
1977 - - $15,446,825,318 $70,148,574,828
1978 - - $18,530,518,395 $70,372,042,491
1979 - - $20,731,243,113 $71,914,438,834
1980 - - $23,244,547,385 $72,838,001,601
1981 - - $24,417,617,184 $76,229,086,932
1982 - - $24,164,603,059 $76,937,776,426
1983 - - $24,309,279,706 $79,624,078,134
1984 - - $21,665,975,319 $83,440,220,877
1985 - - $24,679,795,396 $84,788,059,636
1986 - - $30,604,668,357 $87,082,121,111
1987 - - $40,376,354,070 $87,927,548,030
1988 - - $45,176,811,594 $87,616,568,095
1989 - - $43,920,222,525 $87,757,994,040
1990 $3,592,857,043 $11,137,693,133 $45,495,129,385 $87,892,387,206
1991 $3,094,565,871 $9,355,662,201 $42,745,329,732 $86,933,663,001
1992 $2,319,243,436 $6,633,164,508 $41,649,829,860 $87,884,573,621
1993 $2,371,813,324 $6,553,566,539 $46,775,620,817 $93,501,741,195
1994 $1,702,314,268 $4,528,514,463 $55,314,732,279 $98,288,327,599
1995 $1,752,999,370 $4,465,115,304 $63,918,703,507 $102,929,582,187
1996 $1,695,122,174 $4,202,697,785 $70,140,835,299 $106,647,274,008
1997 $1,930,081,169 $4,271,918,931 $66,075,143,415 $108,864,761,861
1998 $1,698,717,505 $3,992,441,789 $56,227,169,851 $109,799,263,892
1999 $1,170,782,957 $3,857,966,190 $58,762,260,626 $115,703,970,647
2000 $1,288,429,392 $3,939,281,164 $52,623,281,957 $119,024,733,715
2001 $1,480,673,594 $4,179,577,331 $53,872,425,917 $123,084,659,196
2002 $1,661,818,168 $4,505,584,348 $66,627,729,311 $128,886,227,124
2003 $1,980,907,435 $4,802,952,913 $88,250,885,550 $134,980,022,138
2004 $2,598,249,556 $5,158,371,416 $103,905,210,084 $140,497,957,985
2005 $2,988,342,907 $5,545,249,280 $114,720,129,550 $145,208,752,801
2006 $3,408,255,451 $5,811,421,236 $111,538,810,713 $149,245,237,528
2007 $4,401,173,152 $5,985,763,886 $137,188,946,866 $153,806,793,429
2008 $6,054,824,248 $6,452,653,478 $133,437,126,590 $152,242,519,171
2009 $5,439,434,272 $6,065,494,253 $121,663,439,315 $152,185,479,818
2010 $6,974,982,370 $6,496,144,351 $146,887,902,524 $154,405,312,545
2011 $8,414,352,020 $6,874,100,823 $168,484,908,960 $157,637,781,921
2012 $8,709,138,635 $6,833,561,916 $176,560,711,239 $161,367,975,233
2013 $9,496,717,876 $7,451,580,072 $191,012,364,177 $165,546,666,710
2014 $9,402,090,138 $7,824,131,196 $201,518,402,787 $171,881,119,397
2015 $7,797,667,197 $7,797,667,197 $178,224,167,088 $178,224,167,088
2016 $7,980,917,076 $8,159,947,935 $189,100,085,275 $184,959,455,627
2017 $9,514,404,016 $8,500,675,704 $206,745,969,246 $191,208,740,301
2018 $11,252,353,421 $8,847,128,858 $211,985,631,173 $197,844,796,499
2019 $11,736,797,055 $9,161,406,662 $213,006,341,102 $202,429,793,154
2020 $11,530,746,234 $8,403,210,633 $213,029,554,654 $201,807,833,898
2021 $13,691,869,264 $9,573,777,856 $253,977,931,815 $210,960,637,813
2022 $14,525,337,524 $9,133,384,075 $249,509,991,440 $218,336,637,843
2023 $16,711,906,746 $9,242,984,684 $255,194,972,673 $221,380,800,380
2024 $18,200,340,854 $9,252,510,450 $260,235,932,559 $221,100,836,866

Economic indicators

Moldova New Zealand
Gross domestic product
$18.2B
2024
$260B
2024
GDP rank
134/197
2024
53/197
2024
GDP growth
8.91%
2023-2024
1.98%
2023-2024
GDP per capita
$7,618
2024
$48,747
2024
GDP per capita rank
99/197
2024
26/197
2024
GDP per capita, PPP
$18,717
2024
$55,094
2024
Government debt
$6.94B
2024
$133B
2024
Debt-to-GDP ratio
36.3%
2025
55.3%
2025
Government debt per person
$2,905
2024
$24,936
2024
Government debt per person rank
103/185
2024
28/185
2024
Average annual personal income after taxes
$4,214
2025
$36,132
2025
Market capitalization of domestic companies n/a
$92.9B
2024
Number of billionaires n/a
5
2025
Income share by richest 10%
22.8%
2023
n/a
Income share by poorest 10%
4.3%
2023
n/a
Government expenditure, % of GDP
39.8%
2025
43%
2025
Consumer prices inflation
4.68%
2023-2024
2.92%
2023-2024
Central bank interest rate
6.25%
2025
3%
2025
Unemployment rate
1.43%
2024
4.72%
2024
Population
2358679
5406623

GDP per capita in Moldova vs New Zealand

Moldova's GDP per capita is $7,618, ranking 99/197, compared to $48,747 in New Zealand, ranking 26/197. Adjusted for purchasing power (GDP per capita PPP), Moldova ranks 98th at $18,717, while New Zealand ranks 37th at $55,094.

Moldova
GDP per capita

GDP per capita, PPP
New Zealand
GDP per capita

GDP per capita, PPP
Year Current $
Moldova New Zealand
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 - - $2,334 -
1961 - - $2,365 -
1962 - - $2,471 -
1963 - - $2,646 -
1964 - - $2,839 -
1965 - - $2,171 -
1966 - - $2,211 -
1967 - - $2,208 -
1968 - - $1,902 -
1969 - - $2,097 -
1970 - - $2,311 -
1971 - - $2,773 -
1972 - - $3,295 -
1973 - - $4,323 -
1974 - - $4,611 -
1975 - - $4,172 -
1976 - - $4,374 -
1977 - - $4,951 -
1978 - - $5,937 -
1979 - - $6,668 -
1980 - - $7,467 -
1981 - - $7,814 -
1982 - - $7,656 -
1983 - - $7,598 -
1984 - - $6,714 -
1985 - - $7,601 -
1986 - - $9,428 -
1987 - - $12,331 -
1988 - - $13,759 -
1989 - - $13,312 -
1990 $1,207 $6,895 $13,663 $14,871
1991 $1,038 $5,980 $12,230 $14,560
1992 $778 $4,337 $11,793 $14,937
1993 $797 $4,394 $13,094 $15,964
1994 $574 $3,111 $15,280 $17,111
1995 $594 $3,146 $17,400 $17,885
1996 $575 $3,021 $18,794 $18,442
1997 $657 $3,136 $17,474 $19,127
1998 $579 $2,965 $14,738 $19,320
1999 $399 $2,910 $15,322 $20,579
2000 $441 $3,045 $13,641 $21,501
2001 $507 $3,311 $13,883 $22,521
2002 $571 $3,633 $16,874 $23,306
2003 $682 $3,960 $21,914 $23,987
2004 $897 $4,378 $25,420 $25,097
2005 $1,034 $4,866 $27,751 $25,677
2006 $1,183 $5,271 $26,655 $27,744
2007 $1,531 $5,590 $32,480 $29,354
2008 $2,111 $6,153 $31,325 $29,896
2009 $1,898 $5,827 $28,277 $30,756
2010 $2,437 $6,323 $33,762 $31,293
2011 $2,941 $6,833 $38,432 $32,739
2012 $3,045 $7,255 $40,054 $33,055
2013 $3,321 $8,233 $43,000 $36,263
2014 $3,290 $8,643 $44,618 $37,331
2015 $2,750 $9,198 $38,665 $37,578
2016 $2,847 $10,326 $40,114 $39,989
2017 $3,453 $11,252 $42,950 $42,244
2018 $4,156 $11,868 $43,257 $42,527
2019 $4,405 $13,413 $42,779 $45,198
2020 $4,376 $13,527 $41,851 $45,354
2021 $5,275 $15,682 $49,689 $47,997
2022 $5,744 $16,453 $48,760 $53,647
2023 $6,800 $17,747 $48,655 $53,854
2024 $7,618 $18,717 $48,747 $55,094

Spending and national debt comparison

In 2024, Moldova's government spending was $6.92B, accounting for 39.8% of its GDP, while New Zealand's spent $111B, or 43% of GDP.

Debt-to-GDP ratio is 36.3% in Moldova and 55.3% in New Zealand, ranking 144/185 and 95/185, respectively.

Moldova
Government spending

Government debt
New Zealand
Government spending

Government debt
Year % of GDP
Moldova New Zealand
Government spending Government debt Government spending Government debt
1960 - - 25.3% 68.1%
1961 - - 21.1% 64.6%
1962 - - 21.6% 65%
1963 - - 19.4% 64.5%
1964 - - 19.4% 61.8%
1965 - - 24.9% 59.6%
1966 - - 25% 58.2%
1967 - - 26% 59.7%
1968 - - 26.2% 86.5%
1969 - - 25.9% 85.8%
1970 - - 24.8% 76.5%
1971 - - 26.8% 71.3%
1972 - - 26.4% 46%
1973 - - 27.1% 44%
1974 - - 27.3% 39.6%
1975 - - 30.1% 41.4%
1976 - - 31.6% 47.6%
1977 - - 30% 44.6%
1978 - - 36.6% 50%
1979 - - 38.4% 52%
1980 - - 38% 52.2%
1981 - - 39.1% 50.5%
1982 - - 39.9% 51.5%
1983 - - 41.4% 59.6%
1984 - - 40.7% 62.8%
1985 - - 46.1% 64.1%
1986 - - 46.9% 68.5%
1987 - - 46.1% 62.9%
1988 - - 46.1% 54.7%
1989 - - 47.9% 55%
1990 - - 49.6% 55.5%
1991 - - 53% 58%
1992 - - 52.5% 58.7%
1993 - - 46.8% 54.6%
1994 - - 42.8% 48.9%
1995 42% 79.5% 41.6% 43.5%
1996 43.3% 87.5% 39.9% 37.3%
1997 46% 89% 39.3% 34.6%
1998 39.1% 159.4% 40.1% 34.5%
1999 33% 150.7% 39.3% 32%
2000 34% 89.1% 38.3% 30%
2001 29.5% 85.4% 37.2% 28.2%
2002 30.7% 80.3% 36.8% 26.4%
2003 33.5% 68.1% 36.7% 24.7%
2004 34.8% 49.3% 36.2% 22.5%
2005 37.1% 40.4% 37.1% 20.8%
2006 40.3% 35% 37.9% 18.4%
2007 42.7% 28.3% 37.1% 16.3%
2008 41.5% 22.2% 38.5% 19%
2009 45.3% 32.6% 40.3% 24.3%
2010 34.1% 25.5% 42.9% 29.6%
2011 32.6% 24.2% 42.4% 34.7%
2012 33.7% 31.3% 39.7% 35.7%
2013 32.4% 30% 38.6% 34.5%
2014 33.8% 35.4% 37.7% 34.2%
2015 31.7% 42.1% 37.2% 34.2%
2016 30.5% 39.7% 36.4% 33.3%
2017 31% 34.9% 35.6% 31.1%
2018 31.5% 31.8% 36.1% 28.1%
2019 32% 28.8% 38.8% 31.8%
2020 36.7% 36.6% 42% 43.2%
2021 34.6% 33.6% 41.9% 47.5%
2022 36.6% 35% 41.8% 46.9%
2023 38.8% 34.9% 41.3% 47%
2024 38% 38.1% 42.7% 51.2%
2025 39.8% 36.3% 43% 55.3%

Government deficit by year

In 2024, Moldova's government deficit, the difference between spending and revenue, was -$709M, equivalent to -3.89% of GDP. This compares to New Zealand's deficit of -$11.4B, or -4.38% of GDP.

Over the past 30 years, Moldova recorded a fiscal deficit in 26 of those years, while New Zealand ran a deficit in 14 years. On average, Moldova posted an annual deficit equal to -2.26% of GDP, compared to deficit of -0.05% of GDP for New Zealand.

Deficit/surplus
Moldova

New Zealand
Year Deficit/surplus, % of GDP
Moldova New Zealand
1876 - -5.28%
1877 - -2.53%
1878 - -0.85%
1879 - -0.55%
1880 - -2.39%
1881 - -2.33%
1882 - 0.18%
1883 - 0.38%
1884 - -0.1%
1885 - -0.47%
1886 - -0.53%
1887 - -1.63%
1888 - -1.64%
1889 - 0.59%
1890 - 0.05%
1891 - 0.46%
1892 - 0.09%
1893 - 1.14%
1894 - 0.76%
1895 - 0.32%
1896 - 0.65%
1897 - 0.86%
1898 - 1.38%
1899 - 1.15%
1900 - 1.59%
1901 - 1.11%
1902 - 0.63%
1903 - 0.55%
1904 - 1.42%
1905 - 1.41%
1906 - 0.97%
1907 - 1.13%
1908 - 1.26%
1909 - 0.31%
1910 - 0.36%
1911 - 1.24%
1912 - 0.89%
1913 - 0.79%
1914 - 0.45%
1915 - 0.06%
1916 - 1.46%
1917 - 3.89%
1918 - 4.35%
1919 - 2.9%
1920 - 1.51%
1921 - 3.55%
1922 - -0.2%
1923 - 0.95%
1924 - 1.2%
1925 - 0.78%
1926 - 0.72%
1927 - 0.4%
1928 - 0.12%
1929 - -0.37%
1930 - 0.09%
1931 - -1.12%
1932 - -1.77%
1933 - 0.02%
1934 - -0.55%
1935 - 1.19%
1936 - 0.17%
1937 - 0.23%
1938 - 0.38%
1939 - 0.34%
1940 - 0.13%
1941 - 0.64%
1942 - 0.56%
1943 - 1.24%
1944 - 0.59%
1945 - 0.32%
1946 - 0.31%
1947 - 1.07%
1948 - 0.36%
1949 - 0.53%
1950 - 0.78%
1951 - 1.17%
1952 - 1.73%
1953 - 0.43%
1954 - 0.22%
1955 - 0.73%
1956 - 1.33%
1957 - 0.32%
1958 - -0.02%
1959 - 0.03%
1960 - 0.05%
1961 - 0.03%
1962 - 0.02%
1963 - -0.26%
1964 - -0.08%
1965 - 0.26%
1966 - 0.09%
1967 - 0.02%
1968 - 0.03%
1969 - 0.17%
1970 - -0.05%
1971 - 0.09%
1972 - 0.12%
1973 - -0.07%
1974 - 0.03%
1975 - 0.11%
1976 - -2.07%
1977 - -1.09%
1978 - -3.41%
1979 - -6.55%
1980 - -4.9%
1981 - -6.02%
1982 - -6.26%
1983 - -6.64%
1984 - -8.68%
1985 - -6.97%
1986 - -5.33%
1987 - -3.43%
1988 - -1.88%
1989 - -2.16%
1990 - -2.74%
1991 - -6.14%
1992 - -6.27%
1993 - -1.53%
1994 - 1.99%
1995 -2.58% 3.7%
1996 -7.42% 2.58%
1997 -7.47% 1.23%
1998 -1.52% -0.48%
1999 -2.64% -1.11%
2000 -3.55% 0.17%
2001 -0.34% 1.29%
2002 -1.18% 2.55%
2003 0.47% 3.68%
2004 0.59% 4.49%
2005 1.44% 5.13%
2006 -0.42% 4.62%
2007 0.15% 3.6%
2008 -0.87% 1.47%
2009 -6.38% -1.81%
2010 -2.18% -5.51%
2011 -2.05% -4.96%
2012 -1.93% -2.19%
2013 -1.57% -1.29%
2014 -1.6% -0.34%
2015 -1.93% 0.36%
2016 -1.56% 0.98%
2017 -0.65% 1.36%
2018 -0.85% 1.27%
2019 -1.47% -2.5%
2020 -5.32% -4.35%
2021 -2.62% -3.5%
2022 -3.24% -4.16%
2023 -5.13% -3.54%
2024 -3.89% -4.38%
2025 -5.11% -5.18%

Inflation comparison by year

Over the past 29 years, Moldova has recorded an average annual inflation rate of 11%, compared with 2.37% in New Zealand. In 2024, inflation was 4.68% in Moldova and 2.92% in New Zealand.

Inflation
Moldova

New Zealand
Year Inflation
Moldova New Zealand Moldova New Zealand
1996 23.5% 2.29%
1997 11.8% 1.19%
1998 7.7% 1.27%
1999 39.3% -0.11%
2000 31.3% 2.62%
2001 9.76% 2.63%
2002 5.3% 2.68%
2003 11.7% 1.75%
2004 12.5% 2.29%
2005 12% 3.04%
2006 12.8% 3.37%
2007 12.4% 2.38%
2008 12.8% 3.96%
2009 -0.06% 2.12%
2010 7.48% 2.3%
2011 7.69% 4.03%
2012 4.55% 1.06%
2013 4.6% 1.13%
2014 5.09% 1.23%
2015 9.68% 0.29%
2016 6.36% 0.65%
2017 6.57% 1.85%
2018 3.05% 1.6%
2019 4.84% 1.62%
2020 3.77% 1.71%
2021 5.11% 3.94%
2022 28.7% 7.17%
2023 13.4% 5.73%
2024 4.68% 2.92%

Top exports between countries

Moldova
Export category Export value
Processed food, beverages & tobacco $26K
Machinery & equipment $8K
Textiles & consumer goods $4K
New Zealand
Export category Export value
Processed food, beverages & tobacco $210K
Animal & marine products $129K
Transport & tourism services $100K
Machinery & equipment $13K
Metals $1K
Precious metals & jewellery $1K

Balance of trade

Moldova New Zealand
Current account balance
-$2.92B
2024
-$15.8B
2024
Current account balance ranking
153/189
2024
178/189
2024
Current account balance, % of GDP
-16%
2024
-6.09%
2024
Goods imports
$8.63B
2024
$48.6B
2024
Goods exports
$3.01B
2024
$43.3B
2024
Service imports
$1.78B
2024
$19.4B
2024
Service exports
$2.7B
2024
$18.5B
2024
Imports of goods and services, % of GDP
57.3%
2024
26.7%
2023
Exports of goods and services, % of GDP
31.4%
2024
23.7%
2023

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Moldova New Zealand
Economic freedom 58.3 78.1
Economic freedom ranking 107/197 12/197
Property rights 40.2 87.5
Government integrity 43.4 91.3
Judicial effectiveness 31.3 93.9
Tax burden 92.8 65.4
Government spending 59.5 47.8
Fiscal health 75.9 77.7
Business freedom 66.2 88.7
Labor freedom 49.1 69.7
Monetary freedom 59.4 74.6
Trade freedom 77.2 90.4
Investment freedom 55 70
Financial freedom 50 80

Economic freedom by year comparison

The Economic Freedom Index for Moldova is 58.3, ranking 107/197, compared to 78.1 for New Zealand, ranking 12/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Moldova
New Zealand
Year Economic freedom index
Moldova New Zealand
1995 33 -
1996 52.5 78.1
1997 48.9 79
1998 53.5 79.2
1999 56.1 81.7
2000 59.6 80.9
2001 54.9 81.1
2002 57.4 80.7
2003 60 81.1
2004 57.1 81.5
2005 57.4 82.3
2006 58 82
2007 58.7 81.4
2008 57.9 80.7
2009 54.9 82
2010 53.7 82.1
2011 55.7 82.3
2012 54.4 82.1
2013 55.5 81.4
2014 57.3 81.2
2015 57.5 82.1
2016 57.4 81.6
2017 58 83.7
2018 58.4 84.2
2019 59.1 84.4
2020 62 84.1
2021 62.5 83.9
2022 61.3 80.6
2023 58.5 78.9
2024 57.1 77.8
2025 58.3 78.1

More economic indicators

Moldova New Zealand
Services, % of GDP
62.3%
2024
67.4%
2022
Industry, % of GDP
16.8%
2024
19.6%
2022
Agriculture, forestry, and fishing, % of GDP
7.11%
2024
4.57%
2022
GNI, Atlas method
$16.6B
2024
$247B
2024
GNI per capita, PPP
$18,880
2024
$53,160
2024
Total reserves including gold
$5.48B
2024
$22.1B
2024
Total reserves ranking
96/177
2024
59/177
2024
Net foreign direct investment
-$244M
2024
-$1.17B
2024
Net inflows of foreign direct investment
$333M
2024
$3.37B
2024
Net outflows of foreign direct investment
$89.6M
2024
$2.2B
2024
Servicing debt to the IMF, % of GNI
7.79%
2023
n/a
Poverty at national poverty lines
31.6%
2023
n/a
Gross capital formation, % of GDP
21.1%
2024
23.8%
2023

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.