The Republic of Moldova’s service exports have become vital to its economy, comprising a third of total exports. With a thriving IT and Business Support Services (BSS) sector, this branch drives growth, revenue, and a positive trade balance. It has attracted investments, boosted Moldova’s global economic standing, and promises a prosperous future.
This shift from marginal to pivotal sector sees the IT and BSS industries as driving forces. In 2022, they achieved $669 million in exports—$480 million from IT and $189 million from BSS. Projections for 2023 forecast growth to $825 million, with IT at $620 million and BSS at $205 million.
These sectors have spurred investments and balanced trade deficits. While IT wages grew by 20% in 2022, BSS’s potential remains underexplored.
In 2022, the export of IT and BSS became Moldova’s top export category, showcasing their economic impact. As the world trends towards services, Moldova’s expanding IT and BSS sectors could cement its status as a global service provider, aiding sustainable economic growth.
With 4,200 specialized firms generating $580.5 million, and employing 24,300, Moldova is carving a niche. The Association of Business Service Leaders in Moldova (ABSL Moldova) fosters collaboration, promoting the nation’s stature in global business services. Supported by GIZ Moldova, ABSL Moldova bridges industry and authority, nurturing human resources and driving economic advancement.
This drive is backed by ABSL Moldova and the project “Strong Enterprises and Communities for Moldova,” funded by Germany and Switzerland, empowering Moldova’s business services sector.
To learn more about how the service sector in the Republic of Moldova contributes to economic development and the positive impact of service exports, access the following link: https://diez.md/2023/08/09/exportul-de-servicii-catalizatorul-dezvoltarii-economice-in-secolul-xxi-in-republica-moldova/