Business Barometer – quarterly analysis of the business environment


Magenta Consulting continues to evaluate the development of the autochthonous business environment, by carrying out quarterly the Business Barometer in cooperation with the Moldovan-German Economic Cooperation Association and the Chamber of Commerce and Industry France – Moldova. The data provided by the Business Barometer may be used with the aim of monitoring the evolution of the business environment both by company managers and public authorities for monitoring the business perspective as well as foreign investors in order to determine investment orientation.

 The results of the Business Barometer from the 4th quarter of 2015 show that:

  • The general tendencies of the Business Barometer registered lower rates compared to the data from the previous quarter, taking into account the uncertainties regarding the macro-economical and financial situation of the Republic of Moldova, political instability, the lack of an agreement with IMF and the absence of international financial assistance.  
  • Both local enterprises and foreign ones attested low rates of activity indicators, reaching the lowest level since June 2015.
  • All of the analyzed activity sectors registered negative results in the chapter of business environment, the most affected being the enterprises from the banking, financial and insurances sector, as well as foreign enterprises.

 General perspectives of business development

 From the following graph it is noticed that during the last quarter the interviewed enterprises were expecting positive perspectives of business development. In the 4th quarter is noticed a considerable drop of this indicator, which means that enterprises do not plan an improvement in the following quarter. 

Tendencies of the main enterprises activity indicators

Enterprises of the financial sector estimate for the next quarter an increase of profit, although at the chapter of business environment they signal the lowest rates registered until now. The sector of production remains just as skeptical regarding the business environment, the rates being negative during the 2 quarters. But profits increased in the 4th quarter compared to the previous one, determining positive prognosis for the next quarter. In the Business Barometer from the 3rd quarter the profit of companies from the domain of services corresponded to expectations, having positive values. The same tendency is noticed also in the case of enterprises from agriculture and commerce. In the recent barometer companies declare drops in profits during the last 3 months, but do not cease to make predictions of increase in this respect. The enterprises from the sectors: agriculture, services and trade show almost equal pessimistic opinions regarding the business environment.

Methodology: The survey was carried out in the period 18/01/2016-5/02/2016 on a representative sample of 562 Moldovan and foreign enterprises on the entire territory of the Republic of Moldova.