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Transnistria - Economy

Transnistria - Economy: Encyclopedia II - Transnistria - Economy

The GDP is about $420 million [11] and the GDP per capita, based on the exchange rate, is $662, making the area slightly poorer than Moldova, and possibly the poorest region in Europe. Reports of visitors to Transnistria have confirmed that the average salary of a Transnistrian does not exceed $20-$40. Although the population of the republic was 555,500 in 2004, it is estimated that about 375,000 people actually reside in the region si ...

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Transnistria, Transnistria - 2004 crisis, Transnistria - Administrative regions, Transnistria - Aftermath, Transnistria - Ancient history, Transnistria - Autonomous Moldavian Republic in Soviet Ukraine, Transnistria - Bibliography, Transnistria - Crime, Transnistria - Economy, Transnistria - Ethnicities, Transnistria - Ethnicity, Transnistria - From the Middle Ages to the 20th Century, Transnistria - History, Transnistria - Internal politics, Transnistria - Names, Transnistria - Political status, Transnistria - Population, Transnistria - Soviet Moldova, Transnistria - The Kozak Memorandum, Transnistria - The breakaway, Transnistria - Ukraine-sponsored talks, Transnistria - Violation of human rights, Transnistria - World War II

Transnistria: Encyclopedia II - Transnistria - Economy

Transnistria - Economy

The GDP is about $420 million [11] and the GDP per capita, based on the exchange rate, is $662, making the area slightly poorer than Moldova, and possibly the poorest region in Europe.

Reports of visitors to Transnistria have confirmed that the average salary of a Transnistrian does not exceed $20-$40. Although the population of the republic was 555,500 in 2004, it is estimated that about 375,000 people actually reside in the region since the rest are usually working abroad.

The region has a number of factories, although some only possess older technology. One is a munitions factory in Tighina (Bender) while another important steel factory exists in Rîbniţa (Rybnitsa). The factory in Rîbniţa brings about 50% of the republic's revenue and is the main provider of jobs in that city.

Another important factory is the distillery "Kvint" of Tiraspol, famous for its strong spirits, which is also shown on the 5 Transnistrian ruble banknote.

An important company in the republic is Sheriff, owned by president Smirnov's eldest son. Sheriff owns a chain of supermarkets, a chain of petrol stations, a TV channel, the FC Sheriff Tiraspol football team and its newly constructed stadium.

Transnistria imports many times more consumables then the rest of the country, e.g. around 6,000 times as much cigarettes in order to avoid duties and tax income. The majority of these goods are then smuggled onto the Moldovan market.