1 Moldovan leu note, obverse and reverse The Moldovan leu (ISO 4217 code MDL) is the national currency of Moldova. ... For other uses of the initials WTO, see WTO (disambiguation). ... : GUUAM grouping : The rest of the CIS. GU(U)AM (Cyrillic: ГУ(У)АМ) is a regional organization of five CIS states: Georgia, Ukraine, Uzbekistan, Azerbaijan, and Moldova. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... The poverty line is the level of income below which one cannot afford to purchase all the resources one requires to live. ... 2001: A Space Odyssey. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... 1998 (MCMXCVIII) is a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ... Dorothea Langes Migrant Mother depicts destitute pea pickers in California during the Great Depression. ... 2002 (MMII) is a common year starting on Tuesday of the Gregorian calendar. ... Food processing is the methods and techniques used to transform raw ingredients into food for consumption by humans. ... Agricultural machinery is one of the most revolutionary and impactful applications of modern technology. ... The word appliance has several different areas of meaning, all usually referring to a device with a narrow function: One class of objects includes items that are custom-fitted to an individual for the purpose of correction of a physical problem, such as prosthetic and orthotic appliances. ... Hosiery describes undergarments worn directly on the feet and legs. ... Magnified view of refined sugar crystals. ... Vegetable oil or vegoil is fat extracted from plant sources, known as oil plants. ... shoe for right foot A shoe is a piece of footwear for humans, less than a boot and more than a slipper. ... This article is about the type of fabric. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Wikiquote has a collection of quotations by or about: United States Wikinews has news related to this article: United States United States government CIA World Factbook Entry for United States House. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... This article is about the year 2000. ...

Overview

Moldova is the second smallest of the former Soviet republics and the most densely populated. Industry accounts for only 20% of its labor force, while agriculture's share is more than one-third. It remains the poorest country in Europe. It is landlocked, bounded by Ukraine on the east and Romania to the west. Moldova's proximity to the Black Sea gives it a mild and sunny climate. The fertile soil supports wheat, corn, barley, tobacco, sugar beets, and soybeans. Beef and dairy cattle are raised, and beekeeping is widespread. Moldova's best-known product comes from its extensive and well-developed vineyards concentrated in the central and southern regions. In addition to world-class wine, Moldova produces liqueurs and sparkling wine. It is also known for its sunflower seeds, walnuts, apples, and other fruits. This makes the area ideal for agriculture and food processing, which accounts for about 40% of the country's GDP. Species T. boeoticum T. durum T. monococcum T. spelta References:   ITIS 42236 2002-09-22 Wheat (Triticum spp. ... Corn can mean: In Commonwealth countries, corn usually refers to any cereal, including, but not limited to maize In the U.S., Canada, and Australia, corn refers only to the cereal known in Commonwealth English as maize (also known as sweetcorn when removed from the head (also known as the... Binomial name Hordeum vulgare L. Barley (Hordeum) is a major food and animal feed crop, a member of the grass family Poaceae. ... Species N. glauca N. longiflora N. rustica N. sylvestris N. tabacum Ref: ITIS 30562 as of August 26, 2005 Tobacco (, L.) refers to a genus of broad-leafed plants of the nightshade family indigenous to North and South America or to the dried and cured leaves. ... Two sugar beets - the one on the left has been cultivated to be smoother than the traditional beet, so that it traps less soil. ... Binomial name Glycine max Soybeans (US) or soya beans (UK) (Glycine max) are a high-protein legume (Family Fabaceae) grown as food for both humans and livestock. ... It has been suggested that Red wine be merged into this article or section. ... A liqueur is a sweet alcoholic beverage, often flavored with fruits, herbs, spices, flowers, seeds, roots, plants, barks, and sometimes cream. ... A glass of sparkling wine Sparkling wine is a wine with significant levels of carbon dioxide in it making it fizzy. ...

Moldova has experienced economic difficulties, like many other former Soviet republics. Since its economy was highly dependent on the rest of the former Soviet Union for energy and raw materials, the breakdown in trade following the breakup of the Soviet Union had a serious effect, exacerbated at times by drought and civil conflict. The Russian ruble devaluation of 1998 had a deleterious effect on Moldova's economy, but economic growth has been steady since 2000. 1998 Russian Federation one rouble coin. ... Devaluation is a reduction in the value of a currency. ...

Moldova has made progress in economic reform since independence. The government has liberalized most prices and has phased out subsidies on most basic consumer goods. A program begun in March 1993 has privatized 80% of all housing units and nearly 2,000 small, medium, and large enterprises. Other successes include the privatization of nearly all of Moldova's agricultural land from state to private ownership, as a result of an American assistance program, "Pamint" ("land"), completed in 2000. A stock market opened in June 1995. Inflation was brought down from over 105% in 1994 to 11% in 1997. Though inflation spiked again after Russia’s 1998 currency devaluation, Moldova made great strides in bringing it under control: 18.4% in 2000, 6.3% in 2001, and 4.4% in 2002. In 2003 inflation escalated again -- due mainly to a drought-driven rise in agricultural prices -- reaching 15.7%, although it was reigned in to 12.5 % in 2004. The local currency appreciated considerably in 2003 and the first months of 2004. By May, the leu had reached its highest level since the end of 1999. After the National Bank of Moldova increased considerably its purchases on the foreign exchange market, the leu stabilized in November-December 2004 at 12.00-12.50 to the US dollar. Privatization (sometimes privatisation, denationalization, or, especially in India, disinvestment) is the process of transferring property, from public ownership to private ownership and/or transferring the management of a service or activity from the government to the private sector. ... Devaluation is a reduction in the value of a currency. ... Leu (plural: lei) is the name shared by the currencies of Romania and Moldova. ... The United States dollar is the official currency of the United States. ...

Moldova continues to make progress toward developing a viable free-market economy. The country recorded its fifth consecutive year of positive GDP growth in 2004, with year-end real GDP growth of 8%. This growth is impressive considering that, prior to 2000, Moldova had recorded only one year of positive GDP growth since independence. Budget execution in 2004 was also impressive, as actual consolidated budget revenues exceeded projections by 1.4% for most of the year.

Privatization results in 2004 were not significant: several smaller companies and one winery were privatized in 2004, but the government postponed indefinitely the privatization of several larger state enterprises, including two electricity distribution companies. Sporadic and ineffective enforcement of the law, economic and political uncertainty, and government harassment and interference continue to discourage inflows of foreign direct investment. Imports continued to increase more rapidly than exports during the first nine months of 2004; Moldova’s terms of trade worsened, as higher-priced energy imports outpaced the value of Moldova’s main exports--agricultural and agro-processing goods. Privatization (sometimes privatisation, denationalization, or, especially in India, disinvestment) is the process of transferring property, from public ownership to private ownership and/or transferring the management of a service or activity from the government to the private sector. ... Privatization (sometimes privatisation, denationalization, or, especially in India, disinvestment) is the process of transferring property, from public ownership to private ownership and/or transferring the management of a service or activity from the government to the private sector. ... Electricity is a general term applied to phenomena involving a fundamental property of matter called an electric charge. ... Aphorism Critical legal studies Jurisprudence Law (principle) Legal research Legal code Natural justice Natural law Philosophy of law Religious law External links Find more information on Law by searching one of Wikipedias sibling projects: Wikibooks Wikiversity has more about this subject: School of Law The Australian Institute of Comparative... Foreign direct investment (FDI) is the movement of capital across national frontiers in a manner that grants the investor control over the acquired asset. ...

During 2002, Moldova rescheduled an outstanding Eurobond, in the amount of $39.6 million, to avoid a potential default. In May 2004, Moldova redeemed promissory notes with a total value of $114.5 million to Russian Gazprom for just $ 50 million. Moldova informed its bilateral creditors in mid-2003 that it would no longer service its debts. The 2004 budget did provide funds for external debt service (interest) at some 6% of the government budget, the 2005 budget projects external debt service at some 4%. The International Monetary Fund (IMF) and World Bank resumed lending to Moldova in July 2002, and then suspended lending again in July 2003. Although Moldova passed a Poverty Reduction Strategy in 2004, it has yet to reach an agreement with international financial institutions. The logo of the International Monetary Fund (IMF) The International Monetary Fund (IMF) is the international organization entrusted with overseeing the global financial system by monitoring exchange rates and balance of payments, as well as offering technical and financial assistance when asked. ... Logo of the World Bank The International Bank for Reconstruction and Development (IBRD, in Romance languages: BIRD), better known as the World Bank, is an international organization whose original mission was to finance the reconstruction of nations devastated by WWII. Now, its mission has expanded to fight poverty by means...

Currently Moldova is one of the poorest countries in Europe, with high unemployment and a large foreign debt. Its once flourishing wine trade is in the doldrums (the Russians could no longer import so much in the 1990s and the EU has market restrictions on the country). Shortages are frequent. The 1990s refers to the years 1990 to 1999; the last decade of the 20th Century. ...

Statistics

• GDP (2004 est.): $ 2.6 billion ($ 2.0 billion in 2003; $ 1.6 billion in 2002; $1.5 billion in 2001)).
• GDP real growth rate (January-September 2004): 5.7% (6.3% in 2003; 7.2% in 2002; 6.1% in 2001).
• Per capita GDP (2004 est.):$ 760 ($ 540 in 2003: $448 in 2002; $422 in 2001).
• Natural resources: Lignite, phosphates, gypsum, arable land, and limestone.
• Agriculture: Products--vegetables, fruits, wine and spirits, grain, sugar beets, sunflower seeds, meat, milk, eggs, tobacco, walnuts.
• Industry: Types--processed foods and beverages, including wine and refined sugar; processed fruit and vegetable products, including vegetable oil; dairy and meat products; tobacco items; metal processing and production of machinery; textiles and clothing, shoes; furniture.
• Trade (2003): Exports--$790 million (of which 46% go to countries outside the former Soviet Union): foodstuffs, wine, textiles, clothing, footwear and machinery. Major markets--Russia, Romania, Italy, Ukraine, Germany. Imports-- $1,403 million (of which 58% come from countries outside the former Soviet Union): gas, oil, coal, steel, machinery and equipment, chemical products, textiles, foodstuffs, automobiles, and other consumer durables. Major suppliers--Ukraine, Russia, Germany, Italy, Romania,
• Currency: Moldovan Leu (plural Lei).
• Exchange rate: Lei/US$ (2004): 12.33; 12.46 (end of year); (13.94 average in 2003); (13.57 average in 2002)

Investment (gross fixed): 17.1% of GDP (2004 est.) A fruit stand at a market. ...

Household income or consumption by percentage share: lowest 10%: 2.2% highest 10%: 30.7% (1997)

Distribution of family income - Gini index: 40.6 (1997) The Gini coefficient is a measure of inequality developed by the Italian statistician Corrado Gini and published in his 1912 paper Variabilità e mutabilità. It is usually used to measure income inequality, but can be used to measure any form of uneven distribution. ...

Agriculture - products: vegetables, fruits, wine, grain, sugar beets, sunflower seed, tobacco; beef, milk

Industrial production growth rate: 17% (2003 est.)

Electricity:

• production: 3.876 TWh (2002)
• consumption: 4.605 TWh (2002)
• exports: 0 kWh (2002)
• imports: 1 TWh (2002)

Electricity - production by source: The terawatt hour (TW·h) is a unit for measuring energy. ...

• fossil fuel: 90.6%
• hydro: 9.4%
• other: 0% (2001)
• nuclear: 0%

Oil:

• production: 0 barrel/day (2001 est.)
• consumption: 24,000 barrel/day (2001 est.)
• exports: NA
• imports: NA

Natural gas:

• production: 0 m³ (2001 est.)
• consumption: 2.05 billion m³ (2001 est.)
• exports: 0 m³ (2001 est.)
• imports: 2.05 billion m³ (2001 est.)

Current account balance: $-148.4 million (2004 est.)

Exports - commodities: foodstuffs, textiles, machinery

Imports - commodities: mineral products and fuel, machinery and equipment, chemicals, textiles (2000)

Reserves of foreign exchange & gold: $390 million (2004 est.)

See also

• Economy of Europe
• Moldova

The economy of Europe is comprised of more than 665 million people in 48 different states. ...

World Trade Organization (WTO)

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