Where is MOLDOVA located on the map?
Moldova, in the long form Republic of Moldova or Republic of Moldova, is an Eastern European country located between Romania and Ukraine, encompassing parts of the historic regions of Bessarabia and Southern Podolia ( called Transnistria).
Moldova is a signatory member of the Central European Free Trade Agreement and the Organization for Democracy and Development (GUAM). In 2014, it signs an association agreement with the European Union.
The Republic of Moldova (which was the main supplier of wine, vegetables and fruit for the former Soviet republics) became after the collapse of the USSR in 1991 one of the poorest countries in Europe.
The loss of some traditional markets, the energy dependence on Russian gas, and the secession of the self-proclaimed Pridniestrian “republic” Transdniestria, led to a dramatic fall in GDP, which in 2006 was lower than that of Bangladesh, and the lowest in the world. Europe, despite strong economic growth (more than 8% in 2005 since the year 2000). For the year 2008 it is estimated economic growth of 8.1%. The Moldovan government guarantees a minimum wage of € 58, the average salary for the month of May 2008 was € 150 and € 260 in Chişinău.
The underground economy is estimated at nearly 40% of GDP. Inflation fluctuates between 12% and 15% per annum and the trade deficit is large (financed in part by remittances from Moldovans working abroad).
The industry, which uses energy from hydropower plants developed in the country, is concentrated mainly in a few cities, in particular Chişinău, the capital, and Tiraspol. These are processing industries: canneries, dairies, textiles, woodworking and metals.
Tourism in the Republic of Moldova is growing more and more. The places to visit are the wine cellars (Mileştii Mici, Cricova, etc.) as well as the numerous monasteries and other Orthodox churches (Orhei Vechi, Rezina, Tipova, etc.).