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Economy of Moldova vs Portugal compared: GDP & Debt

Updated on by Georank team

Moldova has a GDP of $18.2B compared to $313B for Portugal, ranking 134/197 and 46/197 by economy size, respectively.

Moldova has $7.06B in government debt (38.8% of GDP), compared to $297B (94.9% of GDP) in Portugal.

Moldova vs Portugal GDP by year

Moldova
Portugal
1x
Year GDP, current $
Moldova Portugal
2024 $18,200,340,854 $313,271,185,085
2023 $16,711,906,746 $292,323,800,949
2022 $14,525,337,524 $256,898,677,175
2021 $13,691,869,264 $256,055,879,091
2020 $11,530,746,234 $229,618,773,423
2019 $11,736,797,055 $240,115,970,063
2018 $11,252,353,421 $242,092,894,543
2017 $9,514,404,016 $220,862,990,767
2016 $7,980,917,076 $206,305,431,242
2015 $7,797,667,197 $199,038,523,120
2014 $9,402,090,138 $230,078,616,300
2013 $9,496,717,876 $226,677,408,292
2012 $8,709,138,635 $216,536,676,772
2011 $8,414,352,020 $245,426,767,676
2010 $6,974,982,370 $238,443,864,993
2009 $5,439,434,272 $244,667,762,836
2008 $6,054,824,248 $263,416,394,624
2007 $4,401,173,152 $240,496,147,317
2006 $3,408,255,451 $208,756,449,276
2005 $2,988,342,907 $197,253,876,705
2004 $2,598,249,556 $189,382,122,532
2003 $1,980,907,435 $165,226,175,537
2002 $1,661,818,168 $134,795,565,549
2001 $1,480,673,594 $121,604,107,165
2000 $1,288,429,392 $118,605,192,877
1999 $1,170,782,957 $127,470,385,557
1998 $1,698,717,505 $123,946,327,916
1997 $1,930,081,169 $117,016,535,163
1996 $1,695,122,174 $122,630,089,680
1995 $1,752,999,370 $118,122,007,430
1994 $1,702,314,268 $99,688,641,304
1993 $2,371,813,324 $95,009,751,901
1992 $2,319,243,436 $107,592,098,307
1991 $3,094,565,871 $89,233,599,278
1990 $3,592,857,043 $78,713,860,217
1989 - $60,594,092,182
1988 - $56,347,250,696
1987 - $48,182,925,857
1986 - $38,745,901,354
1985 - $27,115,807,742
1984 - $25,217,969,050
1983 - $27,239,650,742
1982 - $30,527,754,793
1981 - $31,977,276,873
1980 - $32,896,519,824
1979 - $26,622,819,672
1978 - $23,487,614,051
1977 - $21,439,523,311
1976 - $20,332,831,565
1975 - $19,347,607,843
1974 - $17,512,391,476
1973 - $15,090,564,186
1972 - $11,239,117,865
1971 - $9,201,604,240
1970 - $8,108,235,704
1969 - $7,287,555,035
1968 - $6,644,693,214
1967 - $6,002,607,030
1966 - $5,370,108,031
1965 - $4,901,711,248
1964 - $4,429,202,657
1963 - $4,084,251,593
1962 - $3,835,883,663
1961 - $3,573,719,085
1960 - $3,339,150,158

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/moldova/portugal | CC BY

GDP per capita in Moldova vs Portugal by year

Moldova
GDP per capita

GDP per capita, PPP
Portugal
GDP per capita

GDP per capita, PPP
1x
Year Current $
Moldova Portugal
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,576 $18,615 $29,292 $51,680
2023 $6,800 $17,747 $27,635 $49,353
2022 $5,744 $16,453 $24,621 $45,250
2021 $5,275 $15,682 $24,711 $38,658
2020 $4,376 $13,527 $22,299 $35,967
2019 $4,405 $13,413 $23,343 $37,866
2018 $4,156 $11,868 $23,541 $34,897
2017 $3,453 $11,252 $21,442 $32,971
2016 $2,847 $10,326 $19,980 $31,589
2015 $2,750 $9,198 $19,216 $29,608
2014 $3,290 $8,643 $22,121 $28,765
2013 $3,321 $8,233 $21,676 $27,966
2012 $3,045 $7,255 $20,593 $26,476
2011 $2,941 $6,833 $23,247 $26,803
2010 $2,437 $6,323 $22,552 $27,292
2009 $1,898 $5,827 $23,151 $26,472
2008 $2,111 $6,153 $24,949 $26,666
2007 $1,531 $5,590 $22,811 $25,738
2006 $1,183 $5,271 $19,839 $24,677
2005 $1,034 $4,866 $18,780 $22,725
2004 $897 $4,378 $18,064 $21,476
2003 $682 $3,960 $15,798 $20,850
2002 $571 $3,633 $12,937 $20,357
2001 $507 $3,311 $11,735 $19,529
2000 $441 $3,045 $11,526 $18,883
1999 $399 $2,910 $12,475 $17,718
1998 $579 $2,965 $12,199 $16,688
1997 $657 $3,136 $11,576 $15,789
1996 $575 $3,021 $12,185 $14,922
1995 $594 $3,146 $11,781 $14,406
1994 $574 $3,111 $9,977 $13,578
1993 $797 $4,394 $9,535 $13,202
1992 $778 $4,337 $10,811 $13,182
1991 $1,038 $5,980 $8,959 $12,739
1990 $1,207 $6,895 $7,885 $11,780
1989 - - $6,056 -
1988 - - $5,624 -
1987 - - $4,804 -
1986 - - $3,862 -
1985 - - $2,705 -
1984 - - $2,523 -
1983 - - $2,735 -
1982 - - $3,080 -
1981 - - $3,246 -
1980 - - $3,368 -
1979 - - $2,756 -
1978 - - $2,457 -
1977 - - $2,267 -
1976 - - $2,173 -
1975 - - $2,128 -
1974 - - $2,000 -
1973 - - $1,748 -
1972 - - $1,302 -
1971 - - $1,065 -
1970 - - $934 -
1969 - - $832 -
1968 - - $752 -
1967 - - $676 -
1966 - - $601 -
1965 - - $545 -
1964 - - $490 -
1963 - - $452 -
1962 - - $426 -
1961 - - $400 -
1960 - - $377 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/moldova/portugal | CC BY

Moldova's GDP per capita is $7,576, ranking 99/197, compared to $29,292 in Portugal, ranking 44/197. Adjusted for purchasing power (GDP per capita PPP), Moldova ranks 100th at $18,615, while Portugal ranks 42nd at $51,680.

Economic indicators

Moldova Portugal
Gross domestic product
$18.2B
2024
$313B
2024
GDP rank
134/197
2024
46/197
2024
GDP growth
0.1%
2023-2024
2.14%
2023-2024
GDP per capita
$7,576
2024
$29,292
2024
GDP per capita rank
99/197
2024
44/197
2024
GDP per capita, PPP
$18,615
2024
$51,680
2024
GDP per capita PPP rank
100/197
2024
42/197
2024
Government debt
$7.06B
2024
$297B
2024
Debt-to-GDP ratio
38.8%
2024
94.9%
2024
Government debt per person
$2,938
2024
$27,807
2024
Government debt per person rank
102/185
2024
27/185
2024
Average annual personal income after taxes
$4,291
2026
$16,747
2026
Market capitalization of domestic companies n/a
$61.9B
2018
Number of millionaires n/a
171,797
2025
Number of billionaires n/a
1
2025
Income share by richest 10%
22.8%
2023
26.9%
2023
Income share by poorest 10%
4.3%
2023
2.7%
2023
Government expenditure, % of GDP
38%
2024
42.8%
2024
Consumer prices inflation
4.68%
2023-2024
2.42%
2023-2024
Central bank interest rate
6%
2025
n/a
Unemployment rate
1.43%
2024
6.43%
2024
Population
2341166
10667081

Spending and national debt comparison by year

Moldova
Spending

Debt
Portugal
Spending

Debt
1x
Year % of GDP
Moldova Portugal
Government spending Government debt Government spending Government debt
2024 38% 38.8% 42.8% 94.9%
2023 38.8% 34.9% 42.3% 97.7%
2022 36.6% 35% 43.9% 111.2%
2021 34.6% 33.6% 47.3% 123.9%
2020 36.7% 36.6% 49.1% 134.1%
2019 32% 28.8% 42.5% 116.1%
2018 31.5% 31.8% 43.3% 121.1%
2017 31% 34.9% 45.5% 126%
2016 30.5% 39.7% 44.9% 131.2%
2015 31.7% 42.1% 48.2% 131%
2014 33.8% 35.4% 51.7% 132.5%
2013 32.4% 30% 50% 130.8%
2012 33.7% 31.3% 48.8% 128.6%
2011 32.6% 24.2% 50% 114%
2010 34.1% 25.5% 51.9% 100.1%
2009 45.3% 32.6% 50.3% 87.8%
2008 41.5% 22.2% 45.5% 75.6%
2007 42.7% 28.3% 44.5% 72.7%
2006 40.3% 35% 45.1% 73.7%
2005 37.1% 40.4% 46.8% 72.2%
2004 34.8% 49.3% 46.1% 67.1%
2003 33.5% 68.1% 45.4% 63.9%
2002 30.7% 80.3% 44.2% 60%
2001 29.5% 85.4% 44.1% 57.4%
2000 34% 89.1% 42.8% 54.2%
1999 33% 150.7% 42.5% 55.4%
1998 39.1% 159.4% 42.6% 55.6%
1997 46% 89% 42.4% 58.7%
1996 43.3% 87.5% 43% 63.3%
1995 42% 79.5% 42.6% 62.2%
1994 - - 42.8% 60.4%
1993 - - 46.5% 57.2%
1992 - - 48.2% 58.1%
1991 - - 45.9% 63.9%
1990 - - 42.2% 60.2%
1989 - - 36.2% 55.4%
1988 - - 36.2% 56.8%
1987 - - 37.5% 57.2%
1986 - - 38.9% 59.8%
1985 - - 37.5% 59.4%
1984 - - 34.6% 51.3%
1983 - - 34.7% 46.7%
1982 - - 35.8% 43%
1981 - - 35.3% 39.3%
1980 - - 32.4% 31%
1979 - - 30.8% 35.2%
1978 - - 31.7% 31.4%
1977 - - 35.1% 26.9%
1976 - - 38.2% 24.5%
1975 - - 31.9% 19.2%
1974 - - 25.8% 13.5%
1973 - - 25.7% 13.6%
1972 - - 22.8% 14.5%
1971 - - 15.5% 15.7%
1970 - - 15.5% 16.5%
1969 - - 14.9% 16.8%
1968 - - 14.3% 17.2%
1967 - - 14.1% 18.5%
1966 - - 14.4% 20.2%
1965 - - 13.4% 20.4%
1964 - - 13.9% 21.9%
1963 - - 14.6% 20.8%
1962 - - 14.5% 18.7%
1961 - - 14.6% 17.1%
1960 - - 14.3% 16.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-02-20).

GeoRank.org/economy/moldova/portugal | CC BY

In 2024, Moldova's government spending was $6.91B, accounting for 38% of its GDP, while Portugal spent $134B, or 42.8% of GDP.

Debt-to-GDP ratio is 38.8% in Moldova and 94.9% in Portugal, ranking 137/185 and 27/185, respectively.

Government deficit by year

Deficit/surplus
Moldova

Portugal
1x
Year Deficit/surplus, % of GDP
Moldova Portugal
2024 -3.88% 0.7%
2023 -5.13% 1.21%
2022 -3.24% -0.31%
2021 -2.62% -2.83%
2020 -5.32% -5.75%
2019 -1.47% 0.12%
2018 -0.85% -0.43%
2017 -0.65% -3%
2016 -1.56% -1.94%
2015 -1.93% -4.37%
2014 -1.6% -7.32%
2013 -1.57% -5.21%
2012 -1.93% -6.2%
2011 -2.05% -7.73%
2010 -2.18% -11.4%
2009 -6.38% -9.87%
2008 -0.87% -3.81%
2007 0.15% -2.91%
2006 -0.42% -4.07%
2005 1.44% -6.11%
2004 0.59% -5.99%
2003 0.47% -5.66%
2002 -1.18% -3.73%
2001 -0.34% -4.73%
2000 -3.55% -3.35%
1999 -2.64% -2.99%
1998 -1.52% -4.3%
1997 -7.47% -3.65%
1996 -7.42% -4.63%
1995 -2.58% -5.14%
1994 - -7.37%
1993 - -8.06%
1992 - -5.19%
1991 - -7.93%
1990 - -6.82%
1989 - -2.86%
1988 - -3.52%
1987 - -6.79%
1986 - -7.45%
1985 - -8.35%
1984 - -5.23%
1983 - -4.86%
1982 - -7.02%
1981 - -8.34%
1980 - -6.92%
1979 - -6.08%
1978 - -7.15%
1977 - -7.5%
1976 - -10.2%
1975 - -7.1%
1974 - -3.2%
1973 - -5.39%
1972 - -7.72%
1971 - -0.23%
1970 - -0.24%
1969 - -1.53%
1968 - -1.24%
1967 - -0.46%
1966 - -2%
1965 - -0.03%
1964 - -1.93%
1963 - -3.33%
1962 - -1.69%
1961 - -3.17%
1960 - -3.13%
1959 - -1.73%
1958 - -0.52%
1957 - 0.08%
1956 - -0.18%
1955 - -0.31%
1954 - -0.58%
1953 - -0.35%
1952 - -0.34%
1951 - 0.94%
1950 - -0.83%
1949 - -0.46%
1948 - -2.04%
1947 - -1.65%
1946 - -2.32%
1945 - -2.38%
1944 - -1.44%
1943 - 0.03%
1942 - -0.35%
1941 - -0.08%
1940 - -1.74%
1939 - -0.73%
1938 - -0.08%
1937 - -0.09%
1936 - 0.08%
1935 - 0.75%
1934 - 0.6%
1933 - -0.07%
1932 - -0.03%
1931 - 0.04%
1930 - 0.79%
1929 - 1.86%
1928 - 0.2%
1927 - -2.27%
1926 - -4.21%
1925 - -1.48%
1924 - -3.16%
1923 - -3.47%
1922 - -10%
1921 - -6.5%
1920 - -5.66%
1919 - -8.83%
1918 - -8.3%
1917 - -5.49%
1916 - -
1915 - -
1914 - -
1913 - -0.34%
1912 - -0.02%
1911 - -0.73%
1910 - -0.19%
1909 - -0.82%
1908 - -0.56%
1907 - -0.69%
1906 - -0.45%
1905 - -0.75%
1904 - -0.26%
1903 - -0.91%
1902 - -0.5%
1901 - -0.69%
1900 - -0.35%
1899 - -0.77%
1898 - -0.5%
1897 - -0.93%
1896 - -1.35%
1895 - -0.2%
1894 - -0.16%
1893 - -0.02%
1892 - -0.8%
1891 - -2.15%
1890 - -2.01%
1889 - -1.95%
1888 - -2.14%
1887 - -0.67%
1886 - -1.43%
1885 - -1.68%
1884 - -1.48%
1883 - -1.1%
1882 - -0.39%
1881 - -1.2%
1880 - -1.63%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/moldova/portugal | CC BY

In 2024, Moldova's government deficit, the difference between spending and revenue, was $707M, equivalent to 3.88% of GDP. This compares to Portugal's surplus of $2.19B, or 0.7% of GDP.

Over the past 30 years, Moldova recorded a fiscal deficit in 26 of those years, while Portugal ran a deficit in 27 years. On average, Moldova posted an annual deficit equal to 2.26% of GDP, compared to deficit of 4.18% of GDP for Portugal.

Inflation comparison by year

Inflation
Moldova

Portugal
1x
Year Consumer prices inflation
Moldova Portugal
2024 4.68% 2.42%
2023 13.4% 4.31%
2022 28.7% 7.83%
2021 5.11% 1.27%
2020 3.77% -0.01%
2019 4.84% 0.34%
2018 3.05% 0.99%
2017 6.57% 1.37%
2016 6.36% 0.61%
2015 9.68% 0.49%
2014 5.09% -0.28%
2013 4.6% 0.27%
2012 4.55% 2.77%
2011 7.69% 3.65%
2010 7.48% 1.4%
2009 -0.06% -0.84%
2008 12.8% 2.59%
2007 12.4% 2.45%
2006 12.8% 3.11%
2005 12% 2.28%
2004 12.5% 2.37%
2003 11.7% 3.22%
2002 5.3% 3.6%
2001 9.76% 4.37%
2000 31.3% 2.85%
1999 39.3% 2.34%
1998 7.7% 2.57%
1997 11.8% 2.34%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/moldova/portugal | CC BY

Over the past 28 years, Moldova has recorded an average annual inflation rate of 10.5%, compared with 2.17% in Portugal. In 2024, inflation was 4.68% in Moldova and 2.42% in Portugal.

Top exports between countries

Moldova
Export category Export value
Processed food, beverages & tobacco $5.05M
Raw agricultural goods $2.03M
Textiles & consumer goods $194K
Metals $73K
Chemicals & pharma $59K
Animal & marine products $56K
Machinery & equipment $32K
Wood & paper products $24K
Raw materials & minerals $3K
Portugal
Export category Export value
Animal & marine products $3.83M
Wood & paper products $3.78M
Chemicals & pharma $1.86M
Machinery & equipment $1.32M
Textiles & consumer goods $1.23M
Processed food, beverages & tobacco $357K
Metals $182K
Raw agricultural goods $140K
Raw materials & minerals $118K
Precious metals & jewellery $18K

Balance of trade

Moldova Portugal
Current account balance
-$3.01B
2024
$6.51B
2024
Current account balance ranking
156/190
2024
28/190
2024
Current account balance, % of GDP
-16.6%
2024
+2.08%
2024
Goods imports
$8.63B
2024
$109B
2024
Goods exports
$3.01B
2024
$81.4B
2024
Service imports
$1.8B
2024
$27.9B
2024
Service exports
$2.73B
2024
$62.7B
2024
Imports of goods and services, % of GDP
57.3%
2024
43.9%
2024
Exports of goods and services, % of GDP
31.4%
2024
45.8%
2024

Economic freedom indices

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

Moldova Portugal
Economic freedom 58.1 71.2
Economic freedom ranking 112/197 33/197
Property rights 40.4 88.9
Government integrity 45.1 63.4
Judicial effectiveness 32.4 90.1
Tax burden 87.9 60.6
Government spending 57.2 44.6
Fiscal health 70.3 82
Business freedom 68.3 83.1
Labor freedom 48.1 54.8
Monetary freedom 66 77.7
Trade freedom 76.8 79.4
Investment freedom 55 70
Financial freedom 50 60

Economic freedom comparison by year

Moldova
Portugal
1x
Year Economic freedom index
Moldova Portugal
2026 58.1 71.2
2025 58.3 70.5
2024 57.1 68.7
2023 58.5 69.5
2022 61.3 70.8
2021 62.5 67.5
2020 62 67
2019 59.1 65.3
2018 58.4 63.4
2017 58 62.6
2016 57.4 65.1
2015 57.5 65.3
2014 57.3 63.5
2013 55.5 63.1
2012 54.4 63
2011 55.7 64
2010 53.7 64.4
2009 54.9 64.9
2008 57.9 63.9
2007 58.7 64
2006 58 62.9
2005 57.4 62.4
2004 57.1 64.9
2003 60 64.9
2002 57.4 65.4
2001 54.9 66
2000 59.6 65.5
1999 56.1 65.6
1998 53.5 65
1997 48.9 63.6
1996 52.5 64.5
1995 33 62.4

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/moldova/portugal | CC BY

The Economic Freedom Index for Moldova is 58.1, ranking 112/197, compared to 71.2 for Portugal, ranking 33/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Moldova Portugal
Services, % of GDP
62.3%
2024
66.3%
2024
Industry, % of GDP
16.8%
2024
18.7%
2024
Agriculture, forestry, and fishing, % of GDP
7.11%
2024
2.02%
2024
GNI, Atlas method
$16.5B
2024
$288B
2024
GNI per capita, PPP
$18,710
2024
$50,730
2024
Total reserves including gold
$5.48B
2024
$42.4B
2024
Total reserves ranking
96/177
2024
48/177
2024
Net foreign direct investment
-$360M
2024
-$6.64B
2024
Net inflows of foreign direct investment
$458M
2024
$13.5B
2024
Net outflows of foreign direct investment
$98.4M
2024
$6.84B
2024
Servicing debt to the IMF, % of GNI
6.22%
2024
n/a
Poverty at national poverty lines
31.6%
2023
16.4%
2021
Gross capital formation, % of GDP
21.1%
2024
20.4%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/moldova/portugal | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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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.