| Introduction - Macedonia: |
| Location - Macedonia: |
| People - Macedonia: |
| Government - Macedonia: |
| Economy - Macedonia: |
Economy overview | At independence in September 1991, Macedonia was the least developed of the Yugoslav republics, producing a mere 5% of the total federal output of goods and services. The collapse of Yugoslavia ended transfer payments from the central government and eliminated advantages from inclusion in a de facto free trade area. An absence of infrastructure, UN sanctions on the downsized Yugoslavia, and a Greek economic embargo over a dispute about the countrys constitutional name and flag hindered economic growth until 1996. GDP subsequently rose each year through 2000. However, the leaderships commitment to economic reform, free trade, and regional integration was undermined by the ethnic Albanian insurgency of 2001. The economy shrank 4.5% because of decreased trade, intermittent border closures, increased deficit spending on security needs, and investor uncertainty. Growth barely recovered in 2002 to 0.9%, then averaged 4% per year during 2003-06. Macedonia has maintained macroeconomic stability with low inflation, but it has lagged the region in attracting foreign investment, and job growth has been anemic. Macedonia has an extensive gray market, estimated to be more than 20 percent of GDP, that falls outside official statistics. |
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Gdp purchasing power parity | $16.94 billion
note: Macedonia has a large informal sector (2006 est.) |
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Gdp official exchange rate | $6.225 billion (2006 est.) |
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Gdp real growth rate | 3.1% (2006 est.) |
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Gdp per capita ppp | $8,300 (2006 est.) |
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Gdp composition by sector | agriculture: 9%
industry: 29%
services: 62% (2006 est.) |
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Labor force | 899,000 (2006 est.) |
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Labor force by occupation | agriculture: 21.7%
industry: 32.6%
services: 45.7% (September 2006) |
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Unemployment rate | 36% (September 2006 est.) |
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Population below poverty line | 30% (2005) |
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Household income or consumption by percentage share | lowest 10%: NA%
highest 10%: NA% |
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Distribution of family income gini index | 28.2 (1998) |
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Inflation rate consumer prices | 3% (2006 est.) |
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Investment gross fixed | 9.2% of GDP (2006 est.) |
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Budget | revenues: $2.234 billion
expenditures: $2.284 billion; including capital expenditures of $24 million (2006 est.) |
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Public debt | 41.5% of GDP (2006 est.) |
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Agriculture products | grapes, wine, tobacco, vegetables; milk, eggs |
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Industries | food processing, beverages, textiles, chemicals, iron, steel, cement, energy, pharmaceuticals |
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Industrial production growth rate | 3.4% (2006 est.) |
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Electricity production | 5.935 billion kWh (2006) |
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Electricity consumption | 8.929 billion kWh (2006) |
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Electricity exports | 0 kWh (2006) |
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Electricity imports | 2.994 billion kWh (2006) |
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Oil production | 0 bbl/day (2005) |
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Oil consumption | 23,000 bbl/day (2005 est.) |
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Oil exports | NA bbl/day |
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Oil imports | NA bbl/day |
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Oil proved reserves | 0 bbl |
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Natural gas production | 0 cu m (2004 est.) |
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Natural gas consumption | 100 million cu m (2004 est.) |
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Natural gas exports | 0 cu m (2004 est.) |
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Natural gas imports | 100 million cu m (2004 est.) |
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Current account balance | -$167 million (2006 est.) |
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Exports | $2.341 billion f.o.b. (2006 est.) |
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Exports commodities | food, beverages, tobacco; textiles, miscellaneous manufactures, iron and steel |
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Exports partners | Serbia and Montenegro 23.2%, Germany 15.6%, Greece 15.1%, Italy 9.9%, Bulgaria 5.4%, Croatia 5.2% (2006) |
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Imports | $3.631 billion f.o.b. (2006 est.) |
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Imports commodities | machinery and equipment, automobiles, chemicals, fuels, food products |
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Imports partners | Russia 15.1%, Germany 9.8%, Greece 8.5%, Serbia and Montenegro 7.5%, Bulgaria 6.7%, Italy 6% (2006) |
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Reserves of foreign exchange and gold | $1.867 billion (November 2006) |
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Debt external | $2.285 billion (November 2006) |
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Economic aid recipient | $NA |
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Currency code | Macedonian denar (MKD) |
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Exchange rates | Macedonian denars per US dollar - 48.978 (2006), 48.92 (2005), 49.41 (2004), 54.322 (2003), 64.35 (2002) |
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| Communications - Macedonia: |
| Transportation - Macedonia: |
| Military - Macedonia: |
This page was last updated on 16 September, 2007
