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Economy of Moldova vs Romania compared: GDP & Debt

Updated on by Georank

Moldova has a GDP of $20.4B compared to $429B for Romania, ranking 133/197 and 39/197 by economy size, respectively.

Moldova has $7.45B in government debt (36.6% of GDP), compared to $260B (60.6% of GDP) in Romania.

Moldova vs Romania GDP by year

Moldova
Romania
1x
Year GDP, current $
Moldova Romania
2025 $20,351,796,275 $428,677,977,855
2024 $18,206,842,141 $382,564,217,989
2023 $16,711,906,746 $347,757,995,759
2022 $14,525,337,524 $295,317,862,856
2021 $13,691,869,264 $285,072,444,957
2020 $11,530,746,234 $250,624,575,872
2019 $11,736,797,055 $250,080,428,512
2018 $11,252,353,421 $241,791,427,224
2017 $9,514,404,016 $210,147,385,855
2016 $7,980,917,076 $185,290,759,249
2015 $7,797,667,197 $177,885,131,240
2014 $9,402,090,138 $199,722,319,676
2013 $9,496,717,876 $189,798,603,751
2012 $8,709,138,635 $179,117,323,107
2011 $8,414,352,020 $192,623,977,894
2010 $6,974,982,370 $170,064,350,672
2009 $5,439,434,272 $174,110,532,659
2008 $6,054,824,248 $214,315,932,061
2007 $4,401,173,152 $174,588,782,939
2006 $3,408,255,451 $122,023,735,993
2005 $2,988,342,907 $98,454,380,120
2004 $2,598,249,556 $74,973,656,852
2003 $1,980,907,435 $57,806,384,143
2002 $1,661,818,168 $46,065,502,703
2001 $1,480,673,594 $40,395,116,581
2000 $1,288,429,392 $37,253,739,511
1999 $1,170,782,957 $35,953,156,754
1998 $1,698,717,505 $41,696,091,974
1997 $1,930,081,169 $35,575,214,078
1996 $1,695,122,174 $36,937,074,278
1995 $1,752,999,370 $37,430,162,103
1994 $1,702,314,268 $30,072,805,104
1993 $2,371,813,324 $26,361,160,450
1992 $2,319,243,436 $25,121,666,667
1991 $3,094,565,871 $28,850,634,900
1990 $3,592,857,043 $38,247,882,300
1989 - $41,450,777,202
1988 - $40,424,528,302
1987 - $38,067,567,568

Data sources: World Bank | Economy & Growth (1987–2025, retrieved 2026-07-08).

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

GDP per capita in Moldova vs Romania by year

Moldova
GDP per capita

GDP per capita, PPP
Romania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Moldova Romania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $8,622 - $22,538 -
2024 $7,579 $18,615 $20,080 $49,077
2023 $6,800 $17,747 $18,244 $45,982
2022 $5,744 $16,453 $15,503 $41,979
2021 $5,275 $15,682 $14,908 $37,534
2020 $4,376 $13,527 $13,009 $34,194
2019 $4,405 $13,413 $12,910 $33,425
2018 $4,156 $11,868 $12,416 $29,383
2017 $3,453 $11,252 $10,728 $26,943
2016 $2,847 $10,326 $9,405 $23,905
2015 $2,750 $9,198 $8,977 $21,625
2014 $3,290 $8,643 $10,032 $20,633
2013 $3,321 $8,233 $9,498 $19,678
2012 $3,045 $7,255 $8,930 $19,808
2011 $2,941 $6,833 $9,561 $18,804
2010 $2,437 $6,323 $8,400 $17,355
2009 $1,898 $5,827 $8,548 $16,641
2008 $2,111 $6,153 $10,435 $16,782
2007 $1,531 $5,590 $8,360 $13,703
2006 $1,183 $5,271 $5,758 $11,554
2005 $1,034 $4,866 $4,618 $9,602
2004 $897 $4,378 $3,495 $8,989
2003 $682 $3,960 $2,679 $7,559
2002 $571 $3,633 $2,120 $7,162
2001 $507 $3,311 $1,825 $6,520
2000 $441 $3,045 $1,660 $5,850
1999 $399 $2,910 $1,600 $5,596
1998 $579 $2,965 $1,853 $5,545
1997 $657 $3,136 $1,577 $5,564
1996 $575 $3,021 $1,633 $5,746
1995 $594 $3,146 $1,650 $5,429
1994 $574 $3,111 $1,323 $4,995
1993 $797 $4,394 $1,158 $4,699
1992 $778 $4,337 $1,102 $4,515
1991 $1,038 $5,980 $1,254 $4,795
1990 $1,207 $6,895 $1,648 $5,280
1989 - - $1,790 -
1988 - - $1,753 -
1987 - - $1,659 -

Data sources: World Bank | Economy & Growth (1987–2025, retrieved 2026-07-08).

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

Moldova's GDP per capita is $8,622, ranking 93/197, compared to $22,538 in Romania, ranking 57/197. Adjusted for purchasing power (GDP per capita PPP), Moldova ranks 100th at $18,615, while Romania ranks 47th at $49,077.

Economic indicators

Moldova Romania
Gross domestic product
$20.4B
2025
$429B
2025
GDP rank
133/197
2025
39/197
2025
GDP growth
2.42%
2024-2025
0.68%
2024-2025
GDP per capita
$8,622
2025
$22,538
2025
GDP per capita rank
93/197
2025
57/197
2025
GDP per capita, PPP
$18,615
2024
$49,077
2024
GDP per capita PPP rank
100/197
2024
47/197
2024
Government debt
$7.45B
2025
$260B
2025
Debt-to-GDP ratio
36.6%
2025
60.6%
2025
Government debt per person
$3,158
2025
$13,650
2025
Government debt per person rank
103/185
2025
48/185
2025
Average annual personal income after taxes
$4,301
2026
$13,510
2026
Market capitalization of domestic companies n/a
$70.9B
2025
Number of billionaires n/a
6
2026
Income share by richest 10%
22.8%
2023
21.8%
2023
Income share by poorest 10%
4.3%
2023
2.4%
2023
Government expenditure, % of GDP
39.4%
2025
40.5%
2025
Consumer prices inflation
7.76%
2024-2025
7.3%
2024-2025
Central bank interest rate
6.5%
2026
6.5%
2024
Unemployment rate
1.28%
2025
6.1%
2025
Population
2328600
18912567

Spending and national debt comparison by year

Moldova
Spending

Debt
Romania
Spending

Debt
1x
Year % of GDP
Moldova Romania
Government spending Government debt Government spending Government debt
2025 39.4% 36.6% 40.5% 60.6%
2024 38% 38.8% 40% 57.5%
2023 38.8% 34.9% 37% 52.6%
2022 36.6% 35% 37.5% 51.9%
2021 34.6% 33.6% 37.2% 51.8%
2020 36.7% 36.6% 38.3% 49.5%
2019 32% 28.8% 33.4% 36.8%
2018 31.5% 31.8% 31.9% 36.4%
2017 31% 34.9% 31% 37.1%
2016 30.5% 39.7% 31.8% 39.5%
2015 31.7% 42.1% 34.2% 39.4%
2014 33.8% 35.4% 33.8% 40.5%
2013 32.4% 30% 34.2% 39.3%
2012 33.7% 31.3% 33.5% 36.2%
2011 32.6% 24.2% 35% 32.6%
2010 34.1% 25.5% 37.4% 30.2%
2009 45.3% 32.6% 36.3% 22.5%
2008 41.5% 22.2% 35.3% 13%
2007 42.7% 28.3% 34.6% 12.4%
2006 40.3% 35% 33.9% 12.7%
2005 37.1% 40.4% 32.3% 17.8%
2004 34.8% 49.3% 33.7% 21.3%
2003 33.5% 68.1% 31.8% 24.9%
2002 30.7% 80.3% 32.1% 27.4%
2001 29.5% 85.4% 33.2% 27.4%
2000 34% 89.1% 35% 29.6%
1999 33% 150.7% 35.1% 21.7%
1998 39.1% 159.4% 34.7% 16.5%
1997 46% 89% 33.5% 15%
1996 43.3% 87.5% 33.5% 11%
1995 42% 79.5% 34.4% 6.91%
1994 - - 33.1% -
1993 - - 33.5% -
1992 - - 41.5% -
1991 - - 38.3% -
1990 - - 38.4% -
1989 - - 40.1% -
1988 - - 36.6% -
1987 - - 40.7% -
1986 - - 42.5% -
1985 - - 41.6% -
1984 - - 28.6% -
1983 - - 25.8% -
1982 - - 28.5% -
1981 - - 30.4% -
1980 - - 33.6% -
1979 - - 42% -
1978 - - 42.1% -
1977 - - 39.9% -
1976 - - 37.5% -
1975 - - 40.6% -
1974 - - 37.6% -
1973 - - 32.6% -
1972 - - 29.9% -
1971 - - 27.2% -
1970 - - 28.1% -
1969 - - 32.1% -
1968 - - 31.8% -
1967 - - 30.6% -
1966 - - 27.3% -
1965 - - 25.6% -
1964 - - 25.1% -
1963 - - 23.1% -
1962 - - 43.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-07-08).

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

In 2025, Moldova's government spending was $8.02B, accounting for 39.4% of its GDP, while Romania spent $173B, or 40.5% of GDP.

Debt-to-GDP ratio is 36.6% in Moldova and 60.6% in Romania, ranking 140/185 and 76/185, respectively.

Government deficit by year

Deficit/surplus
Moldova

Romania
1x
Year Deficit/surplus, % of GDP
Moldova Romania
2025 -3.87% -7.64%
2024 -4.02% -8.68%
2023 -5.13% -5.66%
2022 -3.24% -5.85%
2021 -2.62% -6.74%
2020 -5.32% -9.6%
2019 -1.47% -4.58%
2018 -0.85% -2.76%
2017 -0.65% -2.86%
2016 -1.56% -2.5%
2015 -1.93% -1.35%
2014 -1.6% -1.76%
2013 -1.57% -2.44%
2012 -1.93% -2.39%
2011 -2.05% -4.14%
2010 -2.18% -6.22%
2009 -6.38% -6.86%
2008 -0.87% -4.6%
2007 0.15% -3.05%
2006 -0.42% -1.36%
2005 1.44% -0.69%
2004 0.59% -3.39%
2003 0.47% -2.29%
2002 -1.18% -2.59%
2001 -0.34% -3.2%
2000 -3.55% -3.99%
1999 -2.64% -3.58%
1998 -1.52% -5.33%
1997 -7.47% -5.19%
1996 -7.42% -4.74%
1995 -2.58% -3.32%
1994 - -2.2%
1993 - -0.35%
1992 - -4.55%
1991 - 3.23%
1990 - 1.03%
1989 - -2.87%
1988 - 8.4%
1987 - 2.37%
1986 - 5.72%
1985 - 6.36%
1984 - 15.2%
1983 - 9.35%
1982 - 0.36%
1981 - 0.61%
1980 - -1.95%
1979 - 0%
1978 - 0%
1977 - 0.23%
1976 - 0.66%
1975 - 0.41%
1974 - 0.51%
1973 - 1.53%
1972 - 1.21%
1971 - 0.89%
1970 - 0.52%
1969 - 0.93%
1968 - 1.65%
1967 - 1.23%
1966 - 0.91%
1965 - -1.29%
1964 - -3.11%
1963 - -1.61%
1962 - -4.86%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08).

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

In 2025, Moldova's government deficit, the difference between spending and revenue, was $788M, equivalent to 3.87% of GDP. This compares to Romania's deficit of $32.8B, or 7.64% of GDP.

Over the past 31 years, Moldova recorded a fiscal deficit in 27 of those years, while Romania ran a deficit in 31 years. On average, Moldova posted an annual deficit equal to 2.31% of GDP, compared to deficit of 4.17% of GDP for Romania.

Inflation comparison by year

Inflation
Moldova

Romania
1x
Year Consumer prices inflation
Moldova Romania
2025 7.76% 7.3%
2024 4.68% 5.6%
2023 13.4% 10.4%
2022 28.7% 13.8%
2021 5.11% 5%
2020 3.77% 2.6%
2019 4.84% 3.8%
2018 3.05% 4.6%
2017 6.57% 1.3%
2016 6.36% -1.6%
2015 9.68% -0.6%
2014 5.09% 1.1%
2013 4.6% 4%
2012 4.55% 3.3%
2011 7.69% 5.8%
2010 7.48% 6.1%
2009 -0.06% 5.6%
2008 12.8% 7.8%
2007 12.4% 4.8%
2006 12.8% 6.6%
2005 12% 9%
2004 12.5% 11.9%
2003 11.7% 15.4%
2002 5.3% 22.5%
2001 9.76% 34.5%
2000 31.3% 45.7%
1999 39.3% 45.8%
1998 7.7% 59.1%
1997 11.8% 154.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Moldova has recorded an average annual inflation rate of 10.4%, compared with 17.1% in Romania. In 2025, inflation was 7.76% in Moldova and 7.3% in Romania.

Top exports between countries

Moldova
Export category Export value
Raw agricultural goods $363M
Machinery & equipment $292M
Textiles & consumer goods $212M
Processed food, beverages & tobacco $130M
Metals $35.5M
Raw materials & minerals $28.5M
Manufacturing & construction services $24M
Chemicals & pharma $15M
Wood & paper products $12.5M
Animal & marine products $6.81M
Romania
Export category Export value
Raw materials & minerals $1.92B
Machinery & equipment $452M
Chemicals & pharma $288M
Processed food, beverages & tobacco $148M
Metals $136M
Textiles & consumer goods $103M
Animal & marine products $69.2M
Raw agricultural goods $65.7M
Wood & paper products $63.5M
Miscellaneous $18.6M

Balance of trade

Moldova Romania
Current account balance
-$4B
2025
-$33.9B
2025
Current account balance ranking
158/190
2025
186/190
2025
Current account balance, % of GDP
-19.6%
2025
-7.9%
2025
Goods imports
$10.1B
2025
$139B
2025
Goods exports
$3.23B
2025
$102B
2025
Service imports
$2.17B
2025
$35.9B
2025
Service exports
$3.22B
2025
$50.1B
2025
Imports of goods and services, % of GDP
60.9%
2025
40.7%
2025
Exports of goods and services, % of GDP
31.8%
2025
35.5%
2025

Economic freedom indices

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

Moldova Romania
Economic freedom 58.1 65.4
Economic freedom ranking 112/197 64/197
Property rights 40.4 81
Government integrity 45.1 50
Judicial effectiveness 32.4 67
Tax burden 87.9 89.1
Government spending 57.2 56.7
Fiscal health 70.3 21.4
Business freedom 68.3 74.4
Labor freedom 48.1 63.6
Monetary freedom 66 72.7
Trade freedom 76.8 79.4
Investment freedom 55 70
Financial freedom 50 60

Economic freedom comparison by year

Moldova
Romania
1x
Year Economic freedom index
Moldova Romania
2026 58.1 65.4
2025 58.3 66.5
2024 57.1 64.4
2023 58.5 64.5
2022 61.3 67.1
2021 62.5 69.5
2020 62 69.7
2019 59.1 68.6
2018 58.4 69.4
2017 58 69.7
2016 57.4 65.6
2015 57.5 66.6
2014 57.3 65.5
2013 55.5 65.1
2012 54.4 64.4
2011 55.7 64.7
2010 53.7 64.2
2009 54.9 63.2
2008 57.9 61.7
2007 58.7 61.2
2006 58 58.2
2005 57.4 52.1
2004 57.1 50
2003 60 50.6
2002 57.4 48.7
2001 54.9 50
2000 59.6 52.1
1999 56.1 50.1
1998 53.5 54.4
1997 48.9 50.8
1996 52.5 46.2
1995 33 42.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Moldova is 58.1, ranking 112/197, compared to 65.4 for Romania, ranking 64/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Moldova Romania
Services, % of GDP
61.5%
2025
61.7%
2025
Industry, % of GDP
16.9%
2025
25.3%
2025
Agriculture, forestry, and fishing, % of GDP
7.38%
2025
3%
2025
GNI, Atlas method
$19B
2025
$384B
2025
GNI per capita, PPP
$19,990
2025
$49,550
2025
Total reserves including gold
$6.01B
2025
$90.6B
2025
Total reserves ranking
97/177
2025
31/177
2025
Net foreign direct investment
-$360M
2025
-$8.57B
2025
Net inflows of foreign direct investment
$458M
2024
$7.16B
2024
Net outflows of foreign direct investment
$98.4M
2024
$1.99B
2024
Servicing debt to the IMF, % of GNI
6.22%
2024
n/a
Poverty at national poverty lines
31.6%
2023
19%
2023
Gross capital formation, % of GDP
24.2%
2025
25.9%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2022–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.