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Economy of Moldova vs Russia compared: GDP & Debt

Updated on by Georank

Moldova has a GDP of $20.4B compared to $2.56T for Russia, ranking 133/197 and 8/197 by economy size, respectively.

Moldova has $7.45B in government debt (36.6% of GDP), compared to $440B (17.2% of GDP) in Russia.

Moldova vs Russia GDP by year

Moldova
Russia
1x
Year GDP, current $
Moldova Russia
2025 $20,351,796,275 $2,561,310,169,359
2024 $18,206,842,141 $2,186,462,268,813
2023 $16,711,906,746 $2,046,284,838,151
2022 $14,525,337,524 $2,292,495,097,681
2021 $13,691,869,264 $1,829,186,719,575
2020 $11,530,746,234 $1,493,075,894,362
2019 $11,736,797,055 $1,693,115,002,708
2018 $11,252,353,421 $1,657,328,773,461
2017 $9,514,404,016 $1,574,199,360,089
2016 $7,980,917,076 $1,276,786,350,881
2015 $7,797,667,197 $1,363,482,182,198
2014 $9,402,090,138 $2,059,241,589,895
2013 $9,496,717,876 $2,292,470,078,346
2012 $8,709,138,635 $2,208,293,553,878
2011 $8,414,352,020 $2,045,922,753,398
2010 $6,974,982,370 $1,524,916,715,224
2009 $5,439,434,272 $1,222,645,900,056
2008 $6,054,824,248 $1,660,848,058,303
2007 $4,401,173,152 $1,299,703,478,482
2006 $3,408,255,451 $989,932,071,353
2005 $2,988,342,907 $764,015,973,481
2004 $2,598,249,556 $591,016,690,732
2003 $1,980,907,435 $430,347,420,185
2002 $1,661,818,168 $345,470,494,418
2001 $1,480,673,594 $306,602,070,621
2000 $1,288,429,392 $259,710,142,197
1999 $1,170,782,957 $195,907,128,351
1998 $1,698,717,505 $270,955,486,862
1997 $1,930,081,169 $404,928,954,192
1996 $1,695,122,174 $391,724,890,744
1995 $1,752,999,370 $395,537,185,735
1994 $1,702,314,268 $395,077,301,248
1993 $2,371,813,324 $435,083,713,851
1992 $2,319,243,436 $460,290,556,901
1991 $3,094,565,871 $517,962,962,963
1990 $3,592,857,043 $517,014,446,228
1989 - $506,631,299,735
1988 - $554,828,660,436

Data sources: World Bank | Economy & Growth (1988–2025, retrieved 2026-07-08).

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

GDP per capita in Moldova vs Russia by year

Moldova
GDP per capita

GDP per capita, PPP
Russia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Moldova Russia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $8,622 - $17,847 -
2024 $7,579 $18,615 $15,219 $47,362
2023 $6,800 $17,747 $14,227 $44,269
2022 $5,744 $16,453 $15,894 $40,939
2021 $5,275 $15,682 $12,637 $38,638
2020 $4,376 $13,527 $10,280 $31,491
2019 $4,405 $13,413 $11,640 $30,964
2018 $4,156 $11,868 $11,399 $28,629
2017 $3,453 $11,252 $10,835 $25,778
2016 $2,847 $10,326 $8,804 $24,012
2015 $2,750 $9,198 $9,427 $23,994
2014 $3,290 $8,643 $14,277 $25,688
2013 $3,321 $8,233 $15,941 $26,020
2012 $3,045 $7,255 $15,402 $24,274
2011 $2,941 $6,833 $14,305 $22,790
2010 $2,437 $6,323 $10,675 $20,490
2009 $1,898 $5,827 $8,563 $19,390
2008 $2,111 $6,153 $11,635 $20,164
2007 $1,531 $5,590 $9,101 $16,648
2006 $1,183 $5,271 $6,920 $14,912
2005 $1,034 $4,866 $5,323 $11,822
2004 $897 $4,378 $4,102 $10,227
2003 $682 $3,960 $2,975 $9,255
2002 $571 $3,633 $2,378 $8,037
2001 $507 $3,311 $2,100 $7,361
2000 $441 $3,045 $1,772 $6,825
1999 $399 $2,910 $1,331 $5,914
1998 $579 $2,965 $1,835 $5,465
1997 $657 $3,136 $2,738 $5,700
1996 $575 $3,021 $2,644 $5,518
1995 $594 $3,146 $2,666 $5,613
1994 $574 $3,111 $2,662 $5,734
1993 $797 $4,394 $2,931 $6,420
1992 $778 $4,337 $3,099 $6,862
1991 $1,038 $5,980 $3,490 $7,858
1990 $1,207 $6,895 $3,494 $8,028
1989 - - $3,430 -
1988 - - $3,778 -

Data sources: World Bank | Economy & Growth (1988–2025, retrieved 2026-07-08).

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

Moldova's GDP per capita is $8,622, ranking 93/197, compared to $17,847 in Russia, ranking 68/197. Adjusted for purchasing power (GDP per capita PPP), Moldova ranks 100th at $18,615, while Russia ranks 50th at $47,362.

Economic indicators

Moldova Russia
Gross domestic product
$20.4B
2025
$2.56T
2025
GDP rank
133/197
2025
8/197
2025
GDP growth
2.42%
2024-2025
1%
2024-2025
GDP per capita
$8,622
2025
$17,847
2025
GDP per capita rank
93/197
2025
68/197
2025
GDP per capita, PPP
$18,615
2024
$47,362
2024
GDP per capita PPP rank
100/197
2024
50/197
2024
Government debt
$7.45B
2025
$440B
2025
Debt-to-GDP ratio
36.6%
2025
17.2%
2025
Government debt per person
$3,158
2025
$3,068
2025
Government debt per person rank
103/185
2025
105/185
2025
Average annual personal income after taxes
$4,301
2026
$11,183
2026
Market capitalization of domestic companies n/a
$650B
2023
Number of millionaires n/a
447,000
2026
Number of billionaires n/a
147
2026
Income share by richest 10%
22.8%
2023
25.1%
2023
Income share by poorest 10%
4.3%
2023
3.1%
2023
Government expenditure, % of GDP
39.4%
2025
39.1%
2025
Consumer prices inflation
7.76%
2024-2025
8.7%
2024-2025
Central bank interest rate
6.5%
2026
14.5%
2026
Unemployment rate
1.28%
2025
2.13%
2025
Population
2328600
142643173

Spending and national debt comparison by year

Moldova
Spending

Debt
Russia
Spending

Debt
1x
Year % of GDP
Moldova Russia
Government spending Government debt Government spending Government debt
2025 39.4% 36.6% 39.1% 17.2%
2024 38% 38.8% 36.7% 14.8%
2023 38.8% 34.9% 36.1% 15.2%
2022 36.6% 35% 35.1% 15.1%
2021 34.6% 33.6% 34.9% 16.5%
2020 36.7% 36.6% 39.2% 19.2%
2019 32% 28.8% 33.8% 13.7%
2018 31.5% 31.8% 32.6% 13.6%
2017 31% 34.9% 34.8% 14.3%
2016 30.5% 39.7% 36.6% 14.8%
2015 31.7% 42.1% 35.3% 15.3%
2014 33.8% 35.4% 34.9% 15.1%
2013 32.4% 30% 34.7% 12.3%
2012 33.7% 31.3% 34% 11.2%
2011 32.6% 24.2% 33.3% 10.3%
2010 34.1% 25.5% 35.5% 10.1%
2009 45.3% 32.6% 38.6% 9.92%
2008 41.5% 22.2% 32% 7.45%
2007 42.7% 28.3% 31.9% 8.03%
2006 40.3% 35% 29% 9.8%
2005 37.1% 40.4% 29.5% 14.9%
2004 34.8% 49.3% 29.6% 20.8%
2003 33.5% 68.1% 32.6% 28.3%
2002 30.7% 80.3% 33.8% 37.6%
2001 29.5% 85.4% 31.5% 44.4%
2000 34% 89.1% 30.7% 55.9%
1999 33% 150.7% 34.3% 92.4%
1998 39.1% 159.4% 39.7% 135.2%
1997 46% 89% - 51.5%
1996 43.3% 87.5% - 51.9%
1995 42% 79.5% - 53.7%
1994 - - - 63.5%
1993 - - - 92.4%
1992 - - - 116%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1992–1996, retrieved 2026-07-08).

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

In 2025, Moldova's government spending was $8.02B, accounting for 39.4% of its GDP, while Russia spent $1T, or 39.1% of GDP.

Debt-to-GDP ratio is 36.6% in Moldova and 17.2% in Russia, ranking 140/185 and 175/185, respectively.

Government deficit by year

Deficit/surplus
Moldova

Russia
1x
Year Deficit/surplus, % of GDP
Moldova Russia
2025 -3.87% -3.9%
2024 -4.02% -1.59%
2023 -5.13% -2.24%
2022 -3.24% -1.34%
2021 -2.62% 0.78%
2020 -5.32% -3.99%
2019 -1.47% 1.93%
2018 -0.85% 2.92%
2017 -0.65% -1.47%
2016 -1.56% -3.67%
2015 -1.93% -3.39%
2014 -1.6% -1.07%
2013 -1.57% -1.16%
2012 -1.93% 0.38%
2011 -2.05% 1.43%
2010 -2.18% -3.19%
2009 -6.38% -5.89%
2008 -0.87% 4.55%
2007 0.15% 5.59%
2006 -0.42% 7.8%
2005 1.44% 7.6%
2004 0.59% 4.57%
2003 0.47% 1.35%
2002 -1.18% 0.67%
2001 -0.34% 2.99%
2000 -3.55% 3.11%
1999 -2.64% -3.59%
1998 -1.52% -7.42%
1997 -7.47% -
1996 -7.42% -
1995 -2.58% -
1994 - -
1993 - -
1992 - -
1991 - -
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - 0.15%
1939 - 0.12%
1938 - 0.16%
1937 - 0.12%
1936 - 0.1%
1935 - 0.07%
1934 - 0.25%
1933 - 0.58%
1932 - 0.06%
1931 - -1.12%
1930 - -1.62%
1929 - -0.4%
1928 - -0.4%
1927 - -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -
1912 - 0.69%
1911 - 1.26%
1910 - 1.52%
1909 - -0.15%
1908 - -0.83%
1907 - -0.86%
1906 - -3.19%
1905 - -7.72%
1904 - -5.13%
1903 - 1.04%
1902 - -1.57%
1901 - 0.14%
1900 - -0.36%
1899 - 0.66%
1898 - 0.03%
1897 - 0.34%
1896 - 1.3%
1895 - 0.7%
1894 - 1.43%
1893 - 0.63%
1892 - -1.16%
1891 - -0.97%
1890 - 0.01%
1889 - 1.34%
1888 - 0.88%
1887 - 0.14%
1886 - -0.84%
1885 - -0.75%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1885–1940, retrieved 2026-07-08).

GeoRank.org/economy/moldova/russia | 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 Russia's deficit of $100B, or 3.9% of GDP.

Over the past 28 years, Moldova recorded a fiscal deficit in 24 of those years, while Russia ran a deficit in 14 years. On average, Moldova posted an annual deficit equal to 1.94% of GDP, compared to surplus of 0.06% of GDP for Russia.

Inflation comparison by year

Inflation
Moldova

Russia
1x
Year Consumer prices inflation
Moldova Russia
2025 7.76% 8.7%
2024 4.68% 8.4%
2023 13.4% 5.9%
2022 28.7% 13.7%
2021 5.11% 6.7%
2020 3.77% 3.4%
2019 4.84% 4.5%
2018 3.05% 2.9%
2017 6.57% 3.7%
2016 6.36% 7%
2015 9.68% 15.5%
2014 5.09% 7.8%
2013 4.6% 6.8%
2012 4.55% 5.1%
2011 7.69% 8.4%
2010 7.48% 6.8%
2009 -0.06% 11.6%
2008 12.8% 14.1%
2007 12.4% 9%
2006 12.8% 9.7%
2005 12% 12.7%
2004 12.5% 10.9%
2003 11.7% 13.7%
2002 5.3% 15.8%
2001 9.76% 21.5%
2000 31.3% 20.8%
1999 39.3% 85.7%
1998 7.7% 27.7%
1997 11.8% 14.8%

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/russia | CC BY

Over the past 29 years, Moldova has recorded an average annual inflation rate of 10.4%, compared with 13.2% in Russia. In 2025, inflation was 7.76% in Moldova and 8.7% in Russia.

Top exports between countries

Moldova
Export category Export value
Raw agricultural goods $67.7M
Chemicals & pharma $11M
Textiles & consumer goods $9.4M
Machinery & equipment $7.67M
Wood & paper products $6.67M
Processed food, beverages & tobacco $5.23M
Metals $2.46M
Animal & marine products $2.36M
Precious metals & jewellery $905K
Raw materials & minerals $259K
Russia
Export category Export value
Miscellaneous $1.07B
Raw materials & minerals $170M
Machinery & equipment $135M
Chemicals & pharma $111M
Processed food, beverages & tobacco $90M
Transport & tourism services $68.1M
Metals $53.5M
Textiles & consumer goods $46.1M
Wood & paper products $42.9M
Raw agricultural goods $20.8M

Balance of trade

Moldova Russia
Current account balance
-$4B
2025
$43.1B
2025
Current account balance ranking
158/190
2025
14/190
2025
Current account balance, % of GDP
-19.6%
2025
+1.68%
2025
Goods imports
$10.1B
2025
$305B
2025
Goods exports
$3.23B
2025
$422B
2025
Service imports
$2.17B
2025
$94.8B
2025
Service exports
$3.22B
2025
$46.3B
2025
Imports of goods and services, % of GDP
60.9%
2025
15.5%
2025
Exports of goods and services, % of GDP
31.8%
2025
18.2%
2025

Economic freedom indices

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

Moldova Russia
Economic freedom 58.1 50.3
Economic freedom ranking 112/197 161/197
Property rights 40.4 18.6
Government integrity 45.1 22.8
Judicial effectiveness 32.4 22.8
Tax burden 87.9 81.9
Government spending 57.2 61.3
Fiscal health 70.3 94.4
Business freedom 68.3 51.4
Labor freedom 48.1 59.1
Monetary freedom 66 61.8
Trade freedom 76.8 69.4
Investment freedom 55 30
Financial freedom 50 30

Economic freedom comparison by year

Moldova
Russia
1x
Year Economic freedom index
Moldova Russia
2026 58.1 50.3
2025 58.3 51.6
2024 57.1 52
2023 58.5 53.8
2022 61.3 56.1
2021 62.5 61.5
2020 62 61
2019 59.1 58.9
2018 58.4 58.2
2017 58 57.1
2016 57.4 50.6
2015 57.5 52.1
2014 57.3 51.9
2013 55.5 51.1
2012 54.4 50.5
2011 55.7 50.5
2010 53.7 50.3
2009 54.9 50.8
2008 57.9 49.8
2007 58.7 52.2
2006 58 52.4
2005 57.4 51.3
2004 57.1 52.8
2003 60 50.8
2002 57.4 48.7
2001 54.9 49.8
2000 59.6 51.8
1999 56.1 54.5
1998 53.5 52.8
1997 48.9 48.6
1996 52.5 51.6
1995 33 51.1

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

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

The Economic Freedom Index for Moldova is 58.1, ranking 112/197, compared to 50.3 for Russia, ranking 161/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Moldova Russia
Services, % of GDP
61.5%
2025
58.9%
2025
Industry, % of GDP
16.9%
2025
29.7%
2025
Agriculture, forestry, and fishing, % of GDP
7.38%
2025
3.06%
2025
GNI, Atlas method
$19B
2025
$2.33T
2025
GNI per capita, PPP
$19,990
2025
$49,220
2025
Total reserves including gold
$6.01B
2025
$608B
2024
Total reserves ranking
97/177
2025
6/177
2024
Net foreign direct investment
-$360M
2025
-$12.4B
2025
Net inflows of foreign direct investment
$458M
2024
-$9.35B
2024
Net outflows of foreign direct investment
$98.4M
2024
-$170M
2024
Servicing debt to the IMF, % of GNI
6.22%
2024
2.63%
2024
Poverty at national poverty lines
31.6%
2023
7.2%
2024
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/russia | 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 (1995–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. International Monetary Fund (IMF) | Public Finances in Modern History (1885–1996, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2021–2025, 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.