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Economy of Moldova vs Peru compared: GDP & Debt

Updated on by Georank team

Moldova has a GDP of $18.2B compared to $289B for Peru, ranking 134/197 and 49/197 by economy size, respectively.

Moldova has $6.94B in government debt (36.3% of GDP), compared to $94.8B (33.7% of GDP) in Peru.

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 $
Peru
GDP, current $

GDP, constant 2015 $
Year GDP
Moldova Peru
Current $ Constant $ Current $ Constant $
1960 - - $2,571,986,572 $27,514,598,739
1961 - - $2,897,852,693 $29,536,122,814
1962 - - $3,284,322,201 $32,500,159,378
1963 - - $3,598,272,493 $33,906,847,467
1964 - - $4,353,664,867 $36,127,022,964
1965 - - $5,163,008,077 $38,157,987,898
1966 - - $6,109,048,737 $41,301,794,164
1967 - - $6,194,340,080 $42,892,972,386
1968 - - $5,736,083,835 $42,958,271,666
1969 - - $6,420,909,790 $44,468,022,473
1970 - - $7,432,223,177 $45,964,792,098
1971 - - $8,289,582,884 $48,074,824,232
1972 - - $9,189,413,409 $49,746,643,130
1973 - - $10,994,381,895 $52,869,207,462
1974 - - $13,858,441,211 $57,831,952,690
1975 - - $16,931,162,355 $60,319,225,841
1976 - - $16,131,958,851 $61,192,111,990
1977 - - $14,544,913,961 $61,405,711,440
1978 - - $12,491,876,743 $59,783,063,686
1979 - - $15,954,012,439 $62,228,639,707
1980 - - $18,136,838,538 $65,927,096,479
1981 - - $21,648,214,893 $69,587,396,443
1982 - - $21,794,535,621 $69,432,408,996
1983 - - $17,345,260,564 $62,205,824,296
1984 - - $17,600,400,385 $64,450,388,680
1985 - - $15,078,736,875 $65,778,796,308
1986 - - $21,859,448,586 $71,979,080,890
1987 - - $36,889,706,593 $78,979,871,696
1988 - - $15,439,408,447 $71,523,166,042
1989 - - $22,499,558,526 $62,717,204,195
1990 $3,592,857,043 $11,137,693,133 $26,410,386,963 $59,592,279,647
1991 $3,094,565,871 $9,355,662,201 $34,341,465,998 $60,914,786,738
1992 $2,319,243,436 $6,633,164,508 $35,966,302,303 $60,585,536,757
1993 $2,371,813,324 $6,553,566,539 $34,832,077,221 $63,762,386,033
1994 $1,702,314,268 $4,528,514,463 $44,882,079,767 $71,610,493,994
1995 $1,752,999,370 $4,465,115,304 $53,312,793,687 $76,917,830,599
1996 $1,695,122,174 $4,202,697,785 $55,252,414,130 $79,070,739,970
1997 $1,930,081,169 $4,271,918,931 $58,147,522,523 $84,192,012,967
1998 $1,698,717,505 $3,992,441,789 $55,501,467,877 $83,862,369,617
1999 $1,170,782,957 $3,857,966,190 $50,187,324,568 $85,116,037,106
2000 $1,288,429,392 $3,939,281,164 $51,744,749,133 $87,409,379,265
2001 $1,480,673,594 $4,179,577,331 $52,030,158,775 $87,949,475,111
2002 $1,661,818,168 $4,505,584,348 $54,777,553,515 $92,745,825,187
2003 $1,980,907,435 $4,802,952,913 $58,731,030,122 $96,608,710,265
2004 $2,598,249,556 $5,158,371,416 $66,768,703,498 $101,398,766,434
2005 $2,988,342,907 $5,545,249,280 $76,060,606,061 $107,771,740,074
2006 $3,408,255,451 $5,811,421,236 $88,643,193,062 $115,885,765,582
2007 $4,401,173,152 $5,985,763,886 $102,170,981,144 $125,757,364,463
2008 $6,054,824,248 $6,452,653,478 $120,550,599,815 $137,234,696,225
2009 $5,439,434,272 $6,065,494,253 $120,822,986,521 $138,738,546,495
2010 $6,974,982,370 $6,496,144,351 $147,527,631,521 $150,298,879,148
2011 $8,414,352,020 $6,874,100,823 $171,761,737,047 $159,808,578,409
2012 $8,709,138,635 $6,833,561,916 $192,650,021,649 $169,620,385,179
2013 $9,496,717,876 $7,451,580,072 $201,175,543,571 $179,547,449,111
2014 $9,402,090,138 $7,824,131,196 $200,786,250,583 $183,824,551,906
2015 $7,797,667,197 $7,797,667,197 $189,802,976,286 $189,802,976,286
2016 $7,980,917,076 $8,159,947,935 $191,898,104,390 $197,306,492,869
2017 $9,514,404,016 $8,500,675,704 $211,007,984,081 $202,276,318,742
2018 $11,252,353,421 $8,847,128,858 $222,597,009,739 $210,305,376,513
2019 $11,736,797,055 $9,161,406,662 $228,346,006,004 $215,017,545,590
2020 $11,530,746,234 $8,403,210,633 $201,409,694,756 $191,509,018,300
2021 $13,691,869,264 $9,573,777,856 $226,328,766,460 $217,099,648,514
2022 $14,525,337,524 $9,133,384,075 $246,065,570,308 $223,198,050,485
2023 $16,711,906,746 $9,242,984,684 $266,958,720,838 $222,298,021,864
2024 $18,200,340,854 $9,252,510,450 $289,221,969,060 $229,642,617,310

Economic indicators

Moldova Peru
Gross domestic product
$18.2B
2024
$289B
2024
GDP rank
134/197
2024
49/197
2024
GDP growth
8.91%
2023-2024
8.34%
2023-2024
GDP per capita
$7,618
2024
$8,452
2024
GDP per capita rank
99/197
2024
93/197
2024
GDP per capita, PPP
$18,717
2024
$17,802
2024
Government debt
$6.94B
2024
$94.8B
2024
Debt-to-GDP ratio
36.3%
2025
33.7%
2025
Government debt per person
$2,905
2024
$2,770
2024
Government debt per person rank
103/185
2024
106/185
2024
Average annual personal income after taxes
$4,214
2025
$6,804
2025
Market capitalization of domestic companies n/a
$82.2B
2024
Income share by richest 10%
22.8%
2023
30.3%
2024
Income share by poorest 10%
4.3%
2023
2%
2024
Government expenditure, % of GDP
39.8%
2025
22.6%
2025
Consumer prices inflation
4.68%
2023-2024
2.01%
2023-2024
Central bank interest rate
6.25%
2025
4.25%
2025
Unemployment rate
1.43%
2024
5.2%
2024
Population
2358679
34854181

GDP per capita in Moldova vs Peru

Moldova's GDP per capita is $7,618, ranking 99/197, compared to $8,452 in Peru, ranking 93/197. Adjusted for purchasing power (GDP per capita PPP), Moldova ranks 98th at $18,717, while Peru ranks 102nd at $17,802.

Moldova
GDP per capita

GDP per capita, PPP
Peru
GDP per capita

GDP per capita, PPP
Year Current $
Moldova Peru
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 - - $252.8 -
1961 - - $276.6 -
1962 - - $305 -
1963 - - $324 -
1964 - - $381 -
1965 - - $439 -
1966 - - $505 -
1967 - - $498 -
1968 - - $448 -
1969 - - $488 -
1970 - - $550 -
1971 - - $599 -
1972 - - $647 -
1973 - - $754 -
1974 - - $927 -
1975 - - $1,104 -
1976 - - $1,026 -
1977 - - $903 -
1978 - - $756 -
1979 - - $942 -
1980 - - $1,045 -
1981 - - $1,216 -
1982 - - $1,194 -
1983 - - $927 -
1984 - - $918 -
1985 - - $767 -
1986 - - $1,087 -
1987 - - $1,792 -
1988 - - $733 -
1989 - - $1,045 -
1990 $1,207 $6,895 $1,200 $3,367
1991 $1,038 $5,980 $1,527 $3,484
1992 $778 $4,337 $1,567 $3,472
1993 $797 $4,394 $1,488 $3,666
1994 $574 $3,111 $1,879 $4,123
1995 $594 $3,146 $2,190 $4,435
1996 $575 $3,021 $2,227 $4,556
1997 $657 $3,136 $2,301 $4,844
1998 $579 $2,965 $2,156 $4,791
1999 $399 $2,910 $1,917 $4,847
2000 $441 $3,045 $1,945 $5,012
2001 $507 $3,311 $1,930 $5,086
2002 $571 $3,633 $2,007 $5,383
2003 $682 $3,960 $2,129 $5,657
2004 $897 $4,378 $2,397 $6,038
2005 $1,034 $4,866 $2,707 $6,560
2006 $1,183 $5,271 $3,130 $7,214
2007 $1,531 $5,590 $3,581 $7,982
2008 $2,111 $6,153 $4,198 $8,820
2009 $1,898 $5,827 $4,181 $8,917
2010 $2,437 $6,323 $5,072 $9,713
2011 $2,941 $6,833 $5,861 $10,463
2012 $3,045 $7,255 $6,519 $10,757
2013 $3,321 $8,233 $6,747 $11,291
2014 $3,290 $8,643 $6,667 $11,518
2015 $2,750 $9,198 $6,232 $11,600
2016 $2,847 $10,326 $6,217 $12,067
2017 $3,453 $11,252 $6,736 $12,592
2018 $4,156 $11,868 $6,978 $13,078
2019 $4,405 $13,413 $7,037 $13,564
2020 $4,376 $13,527 $6,133 $12,563
2021 $5,275 $15,682 $6,826 $15,281
2022 $5,744 $16,453 $7,351 $16,669
2023 $6,800 $17,747 $7,888 $17,011
2024 $7,618 $18,717 $8,452 $17,802

Spending and national debt comparison

In 2024, Moldova's government spending was $6.92B, accounting for 39.8% of its GDP, while Peru's spent $65.6B, or 22.6% of GDP.

Debt-to-GDP ratio is 36.3% in Moldova and 33.7% in Peru, ranking 144/185 and 153/185, respectively.

Moldova
Government spending

Government debt
Peru
Government spending

Government debt
Year % of GDP
Moldova Peru
Government spending Government debt Government spending Government debt
1960 - - 13.3% -
1961 - - 14.8% 16%
1962 - - 14.6% -
1963 - - 16.2% -
1964 - - 16.9% 14.1%
1965 - - 18.7% 14.5%
1966 - - 18.6% 17%
1967 - - 19.1% 12.1%
1968 - - 18.4% 15.2%
1969 - - 16.4% -
1970 - - 14.3% 20%
1971 - - 15% 19%
1972 - - 15.3% 20.6%
1973 - - 19.5% 22.6%
1974 - - 17.7% 24%
1975 - - 19.8% 27%
1976 - - 21.1% 34.5%
1977 - - 19.4% 44.8%
1978 - - 19% 56%
1979 - - 16.4% 45.9%
1980 - - 19.3% 36.3%
1981 - - 18.4% 30.6%
1982 - - 17.6% 34.2%
1983 - - 19.4% 56.2%
1984 - - 18.3% 56.7%
1985 - - 17.2% 63.4%
1986 - - 16.6% 48.6%
1987 - - 15.5% 39.1%
1988 - - 12.8% 42.8%
1989 - - 12.1% 34.9%
1990 - - 20.4% 56.3%
1991 - - 15.7% 48.3%
1992 - - 19.1% 46.8%
1993 - - 18.2% 49.9%
1994 - - 16.9% 41.9%
1995 42% 79.5% 17.5% 36.8%
1996 43.3% 87.5% 16.5% 37.4%
1997 46% 89% 15.6% 34.5%
1998 39.1% 159.4% 16.3% 36.8%
1999 33% 150.7% 17.8% 41.1%
2000 34% 89.1% 21.7% 44.9%
2001 29.5% 85.4% 20.9% 43.8%
2002 30.7% 80.3% 19.6% 45.5%
2003 33.5% 68.1% 20.1% 49.4%
2004 34.8% 49.3% 19.6% 46.7%
2005 37.1% 40.4% 20.4% 40.4%
2006 40.3% 35% 19.2% 34.9%
2007 42.7% 28.3% 18.6% 31.9%
2008 41.5% 22.2% 19.8% 28%
2009 45.3% 32.6% 21.4% 28.3%
2010 34.1% 25.5% 21% 25.1%
2011 32.6% 24.2% 19.7% 23%
2012 33.7% 31.3% 20.3% 20.6%
2013 32.4% 30% 21.5% 19.9%
2014 33.8% 35.4% 22.4% 20.5%
2015 31.7% 42.1% 22.2% 23.9%
2016 30.5% 39.7% 20.8% 24.2%
2017 31% 34.9% 20.9% 25.1%
2018 31.5% 31.8% 21.2% 25.9%
2019 32% 28.8% 21.1% 26.9%
2020 36.7% 36.6% 26.1% 34.9%
2021 34.6% 33.6% 23.5% 36.1%
2022 36.6% 35% 23.5% 34%
2023 38.8% 34.9% 22.5% 33%
2024 38% 38.1% 22.7% 32.8%
2025 39.8% 36.3% 22.6% 33.7%

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 Peru's deficit of -$10.4B, or -3.6% of GDP.

Over the past 30 years, Moldova recorded a fiscal deficit in 26 of those years, while Peru ran a deficit in 23 years. On average, Moldova posted an annual deficit equal to -2.26% of GDP, compared to deficit of -1.06% of GDP for Peru.

Deficit/surplus
Moldova

Peru
Year Deficit/surplus, % of GDP
Moldova Peru
1900 - 0%
1901 - 0.26%
1902 - 0.26%
1903 - 0.24%
1904 - 0.22%
1905 - 0.2%
1906 - 0.38%
1907 - 0.18%
1908 - -0.18%
1909 - -0.33%
1910 - 0.16%
1911 - 0.32%
1912 - -0.45%
1913 - -3.04%
1914 - -1.59%
1915 - -0.74%
1916 - 0.27%
1917 - -0.25%
1918 - -0.34%
1919 - -0.26%
1920 - -0.4%
1921 - -1.53%
1922 - -1.24%
1923 - -0.85%
1924 - -1.31%
1925 - -1.69%
1926 - -1.84%
1927 - 0%
1928 - -1.88%
1929 - 0.008%
1930 - -0.67%
1931 - -0.28%
1932 - -0.57%
1933 - 0.02%
1934 - 0.11%
1935 - 0.09%
1936 - 0.18%
1937 - 0.18%
1938 - -1.57%
1939 - -1.01%
1940 - 0.27%
1941 - -1.76%
1942 - -2.38%
1943 - 0.18%
1944 - 0%
1945 - 0%
1946 - -1.39%
1947 - -0.54%
1948 - -0.84%
1949 - 0.26%
1950 - 0.08%
1951 - 0.61%
1952 - 0.04%
1953 - -2.35%
1954 - -0.66%
1955 - 0.06%
1956 - -0.93%
1957 - -2.23%
1958 - -2.63%
1959 - -1.46%
1960 - 3.32%
1961 - 2.46%
1962 - 2.16%
1963 - -1.86%
1964 - -3.37%
1965 - -4.79%
1966 - -5.41%
1967 - -3.76%
1968 - -3.28%
1969 - -1.1%
1970 - -0.42%
1971 - -1.89%
1972 - -2.04%
1973 - -6.68%
1974 - -4.47%
1975 - -6.54%
1976 - -8.37%
1977 - -6.52%
1978 - -5.07%
1979 - -0.54%
1980 - -2.36%
1981 - -3.98%
1982 - -3.22%
1983 - -7.52%
1984 - -4.45%
1985 - -2.41%
1986 - -4.08%
1987 - -6.26%
1988 - -3.57%
1989 - -1.3%
1990 - -7.99%
1991 - -1.98%
1992 - -3.55%
1993 - -2.82%
1994 - -1.9%
1995 -2.58% -2.05%
1996 -7.42% -0.25%
1997 -7.47% 0.47%
1998 -1.52% -0.2%
1999 -2.64% -2.93%
2000 -3.55% -2.12%
2001 -0.34% -2.15%
2002 -1.18% -1.4%
2003 0.47% -1.62%
2004 0.59% -1.03%
2005 1.44% -0.44%
2006 -0.42% 2.03%
2007 0.15% 3.35%
2008 -0.87% 2.48%
2009 -6.38% -1.48%
2010 -2.18% -0.02%
2011 -2.05% 2.04%
2012 -1.93% 2.07%
2013 -1.57% 0.75%
2014 -1.6% -0.19%
2015 -1.93% -2.04%
2016 -1.56% -2.15%
2017 -0.65% -2.83%
2018 -0.85% -1.96%
2019 -1.47% -1.39%
2020 -5.32% -8.3%
2021 -2.62% -2.53%
2022 -3.24% -1.4%
2023 -5.13% -2.82%
2024 -3.89% -3.6%
2025 -5.11% -2.54%

Inflation comparison by year

Over the past 29 years, Moldova has recorded an average annual inflation rate of 11%, compared with 3.73% in Peru. In 2024, inflation was 4.68% in Moldova and 2.01% in Peru.

Inflation
Moldova

Peru
Year Inflation
Moldova Peru Moldova Peru
1996 23.5% 11.5%
1997 11.8% 8.56%
1998 7.7% 7.25%
1999 39.3% 3.47%
2000 31.3% 3.76%
2001 9.76% 1.98%
2002 5.3% 0.19%
2003 11.7% 2.26%
2004 12.5% 3.66%
2005 12% 1.62%
2006 12.8% 2%
2007 12.4% 1.78%
2008 12.8% 5.79%
2009 -0.06% 2.94%
2010 7.48% 1.53%
2011 7.69% 3.37%
2012 4.55% 3.61%
2013 4.6% 2.77%
2014 5.09% 3.41%
2015 9.68% 3.4%
2016 6.36% 3.56%
2017 6.57% 2.99%
2018 3.05% 1.51%
2019 4.84% 2.25%
2020 3.77% 2%
2021 5.11% 4.27%
2022 28.7% 8.33%
2023 13.4% 6.46%
2024 4.68% 2.01%

Top exports between countries

Moldova
Export category Export value
Machinery & equipment $605K
Processed food, beverages & tobacco $83K
Textiles & consumer goods $1K
Peru
Export category Export value
Raw agricultural goods $33K

Balance of trade

Moldova Peru
Current account balance
-$2.92B
2024
$6.39B
2024
Current account balance ranking
153/189
2024
29/189
2024
Current account balance, % of GDP
-16%
2024
+2.21%
2024
Goods imports
$8.63B
2024
$52.1B
2024
Goods exports
$3.01B
2024
$76.2B
2024
Service imports
$1.78B
2024
$15.1B
2024
Service exports
$2.7B
2024
$7.15B
2024
Imports of goods and services, % of GDP
57.3%
2024
22.9%
2024
Exports of goods and services, % of GDP
31.4%
2024
28.5%
2024

Economic freedom indices

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

Moldova Peru
Economic freedom 58.3 65.9
Economic freedom ranking 107/197 60/197
Property rights 40.2 44.9
Government integrity 43.4 34
Judicial effectiveness 31.3 47.3
Tax burden 92.8 79.4
Government spending 59.5 83.9
Fiscal health 75.9 89.8
Business freedom 66.2 70.6
Labor freedom 49.1 65.1
Monetary freedom 59.4 73.9
Trade freedom 77.2 81.6
Investment freedom 55 60
Financial freedom 50 60

Economic freedom by year comparison

The Economic Freedom Index for Moldova is 58.3, ranking 107/197, compared to 65.9 for Peru, ranking 60/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Moldova
Peru
Year Economic freedom index
Moldova Peru
1995 33 56.9
1996 52.5 62.5
1997 48.9 63.8
1998 53.5 65
1999 56.1 69.2
2000 59.6 68.7
2001 54.9 69.6
2002 57.4 64.8
2003 60 64.6
2004 57.1 64.7
2005 57.4 61.3
2006 58 60.5
2007 58.7 62.7
2008 57.9 63.8
2009 54.9 64.6
2010 53.7 67.6
2011 55.7 68.6
2012 54.4 68.7
2013 55.5 68.2
2014 57.3 67.4
2015 57.5 67.7
2016 57.4 67.4
2017 58 68.9
2018 58.4 68.7
2019 59.1 67.8
2020 62 67.9
2021 62.5 67.7
2022 61.3 66.5
2023 58.5 66.5
2024 57.1 64.8
2025 58.3 65.9

More economic indicators

Moldova Peru
Services, % of GDP
62.3%
2024
52.7%
2024
Industry, % of GDP
16.8%
2024
32.2%
2024
Agriculture, forestry, and fishing, % of GDP
7.11%
2024
6.06%
2024
GNI, Atlas method
$16.6B
2024
$256B
2024
GNI per capita, PPP
$18,880
2024
$16,770
2024
Total reserves including gold
$5.48B
2024
$79.2B
2024
Total reserves ranking
96/177
2024
33/177
2024
Net foreign direct investment
-$244M
2024
-$5.63B
2024
Net inflows of foreign direct investment
$333M
2024
$6.8B
2024
Net outflows of foreign direct investment
$89.6M
2024
$1.17B
2024
Servicing debt to the IMF, % of GNI
7.79%
2023
5.42%
2023
Poverty at national poverty lines
31.6%
2023
27.6%
2024
Gross capital formation, % of GDP
21.1%
2024
19.4%
2024

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.