Macedonia - Economic Indicators

Economic Overview

Since its independence in 1991, Macedonia has made progress in liberalizing its economy and improving its business environment. Its low tax rates and free economic zones have helped to attract foreign investment, which is still low relative to the rest of Europe. Corruption and weak rule of law remain significant problems. Some businesses complain of opaque regulations and unequal enforcement of the law. Macedonia’s economy is closely linked to Europe as a customer for exports and source of investment, and has suffered as a result of prolonged weakness in the euro zone....

Continue reading View Factbook for Macedonia

GDP Reference Last Previous Units Frequency
Private Consumption 2017 412,227,829,828 395,024,231,510 MKD Annual
Nominal Gross Domestic Product 2016 607,452,298,500 558,240,000,000 NCU Annual
Investment 2016 143,495,572,552 133,254,072,179 MKD Annual
Government Consumption 2016 95,438 93,555 Mil. MKD Annual
Real Gross Domestic Product 2016 123.13 119.93 Index 2005=100 Annual
Price Reference Last Previous Units Frequency
Consumer Price Index (CPI) Apr 2018 111.94 111.65 2010=100, NSA Monthly
Producer Price Index (PPI) Dec 2017 112.82 113.05 2010=100, NSA Monthly
Labor Reference Last Previous Units Frequency
Agriculture Employment 2017 155,954 158,288 # Annual
Unemployment Rate 2017 Q1 22.9 23.1 % Quarterly
Labor Force 2016 952,002 959,952 # Annual
Unemployment Dec 2012 243,403 245,122 #, NSA Monthly
Labor Force Employment Jan 1999 317,330 316,900 #, NSA Monthly
Trade Reference Last Previous Units Frequency
Exports of Goods 2018 Q1 1,284,854,490 1,278,431,472 USD, NSA Quarterly
Imports of Goods 2018 Q1 1,866,167,218 1,874,823,339 USD, NSA Quarterly
Current Account Balance 2018 Q1 -192,377,695 -82,784,235 USD, NSA Quarterly
Balance of Goods 2018 Q1 -581,312,728 -596,391,866 USD, NSA Quarterly
Imports of Goods and Services 2017 426,707,925,204 387,537,608,208 MKD Annual
Exports of Goods and Services 2017 341,583,214,338 299,276,937,548 MKD Annual
Government Reference Last Previous Units Frequency
Gross External Debt 2017 Q4 1,517,585,705 1,474,455,475 USD, NSA Quarterly
Markets Reference Last Previous Units Frequency
Lending Rate Jan 2013 3.75 3.75 % - End of period Monthly
Consumer Reference Last Previous Units Frequency
Consumer Confidence Jun 2018 -13.9 -13.8 Bal. of Op., SA Monthly
Business Reference Last Previous Units Frequency
Industrial Production Dec 2017 129.95 136.01 2010=100, NSA Monthly
Demographics Reference Last Previous Units Frequency
Population 2017 2,083,160 2,081,206 # Annual
Birth Rate 2016 11.28 11.3 # per Ths. pop. Annual
Death Rate 2016 9.8 9.74 # per Ths. pop. Annual
Net Migration 2012 -8,853 # Annual
Deaths 2012 20,134 19,465 #, NSA Annual

Factbook

Background

Background:
Macedonia gained its independence peacefully from Yugoslavia in 1991. Greek objection to Macedonia’s name, insisting it implies territorial pretensions to the northern Greek province of the same name, and democratic backsliding have stalled the country’s movement toward Euro-Atlantic integration. Immediately after Macedonia declared independence, Greece sought to block Macedonian efforts to gain UN membership if the name “Macedonia” was used. Macedonia was eventually admitted to the UN in 1993 as “The Former Yugoslav Republic of Macedonia,” and at the same time it agreed to UN-sponsored negotiations on the name dispute. In 1995, Greece lifted a 20-month trade embargo and the two countries agreed to normalize relations, but the issue of the name remained unresolved and negotiations for a solution are ongoing. Since 2004, the US and over 130 other nations have recognized Macedonia by its constitutional name, Republic of Macedonia. Ethnic Albanian grievances over perceived political and economic inequities escalated into a conflict in 2001 that eventually led to the internationally brokered Ohrid Framework Agreement (OFA), which ended the fighting and established guidelines for constitutional amendments and the creation of new laws that enhanced the rights of minorities. Relations between ethnic Macedonians and ethnic Albanians remain complicated, however.
A nearly three-year political crisis that engulfed Macedonia ended in June 2017 following a six-month-long government formation period that followed a closely contested early legislative election in December 2016. The crisis began after the 2014 legislative and presidential election, and escalated in 2015 when the opposition party began releasing wiretap content that revealed alleged widespread government corruption and abuse. Although Macedonia became an EU candidate in 2005, it has not opened accession negotiations. The country still faces challenges, including fully implementing reforms to overcome a decade of democratic backsliding, resolving the outstanding name dispute with Greece, and stimulating economic growth and development. At the 2008 NATO Summit in Bucharest, Romania, the Allies agreed that Macedonia would be invited to join the Alliance as soon as a mutually acceptable resolution to the name dispute was reached with Greece.

Geography

Location:
Southeastern Europe, north of Greece
Geographic coordinates:
41 50 N, 22 00 E
Map references:
Europe
Area:
total: 25,713 sq km
land: 25,433 sq km
water: 280 sq km
country comparison to the world: 150
Area - comparative:
slightly larger than Vermont
Land boundaries:
total: 838 km
border countries (5): Albania 181 km, Bulgaria 162 km, Greece 234 km, Kosovo 160 km, Serbia 101 km
Coastline:
0 km (landlocked)
Maritime claims:
none (landlocked)
Climate:
warm, dry summers and autumns; relatively cold winters with heavy snowfall
Terrain:
mountainous with deep basins and valleys; three large lakes, each divided by a frontier line; country bisected by the Vardar River
Elevation:
mean elevation: 741 m
elevation extremes: lowest point: Vardar River 50 m
highest point: Golem Korab (Maja e Korabit) 2,764 m
Natural resources:
low-grade iron ore, copper, lead, zinc, chromite, manganese, nickel, tungsten, gold, silver, asbestos, gypsum, timber, arable land
Land use:
agricultural land: 44.3%
arable land 16.4%; permanent crops 1.4%; permanent pasture 26.5%
forest: 39.8%
other: 15.9% (2011 est.)
Irrigated land:
1,280 sq km (2012)
Population - distribution:
a fairly even distribution throughout most of the country, with urban areas attracting larger and denser populations
Natural hazards:
high seismic risks
Environment - current issues:
air pollution from metallurgical plants; Skopje has severe air pollution problems every winter as a result of industrial emissions, smoke from wood-buring stoves, and exhaust fumes from old cars
Environment - international agreements:
party to: Air Pollution, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Wetlands
signed, but not ratified: none of the selected agreements
Geography - note:
landlocked; major transportation corridor from Western and Central Europe to Aegean Sea and Southern Europe to Western Europe

People & Society

Population:
2,103,721 (July 2017 est.)
country comparison to the world: 145
Nationality:
noun: Macedonian(s)
adjective: Macedonian
Ethnic groups:
Macedonian 64.2%, Albanian 25.2%, Turkish 3.9%, Romani 2.7%, Serb 1.8%, other 2.2% (2002 est.)
note: Macedonia has not conducted a census since 2002; Romani populations are usually underestimated in official statistics and may represent 6.5–13% of Macedonia’s population
Languages:
Macedonian (official) 66.5%, Albanian 25.1%, Turkish 3.5%, Romani 1.9%, Serbian 1.2%, other 1.8% (2002 est.)
note: minority languages are co-official with Macedonian in municipalities where they are spoken by at least 20% of the population; Albanian is co-official in Tetovo, Brvenica, Vrapciste, and other municipalities; Turkish is co-official in Centar Zupa and Plasnica; Romani is co-official in Suto Orizari; Aromanian is co-official in Krusevo; Serbian is co-official in Cucer Sandevo
Religions:
Macedonian Orthodox 64.8%, Muslim 33.3%, other Christian 0.4%, other and unspecified 1.5% (2002 est.)
Age structure:
0-14 years: 17.17% (male 187,063/female 174,196)
15-24 years: 13.41% (male 145,716/female 136,444)
25-54 years: 43.6% (male 465,862/female 451,321)
55-64 years: 12.41% (male 128,024/female 132,955)
65 years and over: 13.41% (male 121,019/female 161,121) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 41.6
youth dependency ratio: 23.8
elderly dependency ratio: 17.7
potential support ratio: 5.6 (2015 est.)
Median age:
total: 37.9 years
male: 36.8 years
female: 39 years (2017 est.)
country comparison to the world: 63
Population growth rate:
0.17% (2017 est.)
country comparison to the world: 187
Birth rate:
11.4 births/1,000 population (2017 est.)
country comparison to the world: 172
Death rate:
9.2 deaths/1,000 population (2017 est.)
country comparison to the world: 63
Net migration rate:
-0.5 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 122
Population distribution:
a fairly even distribution throughout most of the country, with urban areas attracting larger and denser populations
Urbanization:
urban population: 57.3% of total population (2017)
rate of urbanization: 0.24% annual rate of change (2015-20 est.)
Major urban areas - population:
SKOPJE (capital) 503,000 (2015)
Sex ratio:
at birth: 1.08 male(s)/female
0-14 years: 1.07 male(s)/female
15-24 years: 1.07 male(s)/female
25-54 years: 1.03 male(s)/female
55-64 years: 0.96 male(s)/female
65 years and over: 0.75 male(s)/female
total population: 0.99 male(s)/female (2017 est.)
Mother's mean age at first birth:
26.8 years (2014 est.)
Maternal mortality ratio:
8 deaths/100,000 live births (2015 est.)
country comparison to the world: 157
Infant mortality rate:
total: 7.4 deaths/1,000 live births
male: 7.6 deaths/1,000 live births
female: 7.1 deaths/1,000 live births (2017 est.)
country comparison to the world: 160
Life expectancy at birth:
total population: 76.4 years
male: 73.8 years
female: 79.2 years (2017 est.)
country comparison to the world: 88
Total fertility rate:
1.6 children born/woman (2017 est.)
country comparison to the world: 180
Contraceptive prevalence rate:
40.2% (2011)
Health expenditures:
6.5% of GDP (2014)
country comparison to the world: 93
Physicians density:
2.88 physicians/1,000 population (2015)
Hospital bed density:
4.4 beds/1,000 population (2013)
Drinking water source:
improved:
urban: 99.8% of population
rural: 98.9% of population
total: 99.4% of population
unimproved:
urban: 0.2% of population
rural: 1.1% of population
total: 0.6% of population (2015 est.)
Sanitation facility access:
improved:
urban: 97.2% of population
rural: 82.6% of population
total: 90.9% of population
unimproved:
urban: 2.8% of population
rural: 17.4% of population
total: 9.1% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
<.1% (2016 est.)
HIV/AIDS - people living with HIV/AIDS:
<500 (2016 est.)
HIV/AIDS - deaths:
<100 (2016 est.)
Obesity - adult prevalence rate:
22.4% (2016)
country comparison to the world: 77
Children under the age of 5 years underweight:
1.3% (2011)
country comparison to the world: 128
Literacy:
definition: age 15 and over can read and write
total population: 97.8%
male: 98.8%
female: 96.8% (2015 est.)
School life expectancy (primary to tertiary education):
total: 13 years
male: 13 years
female: 13 years (2014)
Unemployment, youth ages 15-24:
total: 47.3%
male: 49.7%
female: 43.3% (2014 est.)
country comparison to the world: 9

Government

Country name:
conventional long form: Republic of Macedonia
conventional short form: Macedonia
local long form: Republika Makedonija
local short form: Makedonija
note: the provisional designation used by the UN, EU, and NATO is the "former Yugoslav Republic of Macedonia" (FYROM)
former: People's Republic of Macedonia, Socialist Republic of Macedonia
etymology: the country name derives from the ancient kingdom of Macedon (7th to 2nd centuries B.C.)
Government type:
parliamentary republic
Capital:
name: Skopje
geographic coordinates: 42 00 N, 21 26 E
time difference: UTC+1 (6 hours ahead of Washington, DC, during Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Administrative divisions:
70 municipalities (opstini, singular - opstina) and 1 city* (grad); Aracinovo, Berovo, Bitola, Bogdanci, Bogovinje, Bosilovo, Brvenica, Caska, Centar Zupa, Cesinovo-Oblesevo, Cucer Sandevo, Debar, Debarca, Delcevo, Demir Hisar, Demir Kapija, Dojran, Dolneni, Gevgelija, Gostivar, Gradsko, Ilinden, Jegunovce, Karbinci, Kavadarci, Kicevo, Kocani, Konce, Kratovo, Kriva Palanka, Krivogastani, Krusevo, Kumanovo, Lipkovo, Lozovo, Makedonska Kamenica, Makedonski Brod, Mavrovo i Rostusa, Mogila, Negotino, Novaci, Novo Selo, Ohrid, Pehcevo, Petrovec, Plasnica, Prilep, Probistip, Radovis, Rankovce, Resen, Rosoman, Skopje*, Sopiste, Staro Nagoricane, Stip, Struga, Strumica, Studenicani, Sveti Nikole, Tearce, Tetovo, Valandovo, Vasilevo, Veles, Vevcani, Vinica, Vrapciste, Zelenikovo, Zelino, Zrnovci
Independence:
8 September 1991 (referendum by registered voters endorsed independence from Yugoslavia)
National holiday:
Independence Day, 8 September (1991); also known as National Day
Constitution:
history: several previous; latest adopted 17 November 1991, effective 20 November 1991
amendments: proposed by the president of the republic, by the government, by at least 30 members of the Assembly, or by petition of at least 150,000 citizens; draft amendments require approval by majority vote of Assembly members, followed by public debate; final passage requires two-thirds majority vote of the Assembly; amended several times, last in 2015 (2016)
Legal system:
civil law system; judicial review of legislative acts
International law organization participation:
has not submitted an ICJ jurisdiction declaration; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen of Macedonia
dual citizenship recognized: no
residency requirement for naturalization: 8 years
Suffrage:
18 years of age; universal
Executive branch:
chief of state: President Gjorge IVANOV (since 12 May 2009)
head of government: Prime Minister Zoran ZAEV (since 31 May 2017)
cabinet: Council of Ministers elected by the Assembly by simple majority vote; note - the 2014 cabinet formed by the government coalition parties VMRO-DPMNE, DUI, and several small parties; as a result of an agreement reached in July 2015 between the largest parties to resolve a 16-month opposition boycott of the Assembly, several minister and deputy minister positions were also given to the opposition SDSM from November 2015 through May 2016 in preparation for parliamentary elections originally scheduled for 24 April 2016, and pushed back to 5 June 2016, and again from September to December 2016
elections/appointments: president directly elected by absolute majority popular vote in 2 rounds if needed for a 5-year term (eligible for a second term); election last held on 13 and 27 April 2014 (next to be held in 2019); following legislative elections, the leader of the majority party or majority coalition is usually elected prime minister by the Assembly
election results: Gjorge IVANOV reelected president in second round; percent of vote - Gjorge IVANOV (independent) 55.3%, Stevo PENDAROVSKI (SDSM) 41.1%, other 3.6%
Legislative branch:
description: unicameral Assembly or Sobranie (123 seats; 120 members directly elected in multi-seat constituencies by proportional representation vote and 3 directly elected in diaspora constituencies worldwide by simple majority vote, provided candidates meet a specified minimum vote count; members serve 4-year terms)
elections: last held on 11 December 2016, with a second round held in one polling station on 25 December 2016 (next to be held in 2020)
election results: percent of vote by party - VMRO-DPMNE 38.1%, SDSM coalition 36.7%, BDI 7.3%, Besa Movement 4.9%, Alliance for Albanians 3.1%, PDSh 2.7%, other 7.2%; seats by party - VMRO-DPMNE 51, SDSM coalition 49, BDI 10, Besa Movement 5, Alliance for Albanians 3, PDSh 2
Judicial branch:
highest court(s): Supreme Court (consists of 22 judges); Constitutional Court (consists of 9 judges)
judge selection and term of office: Supreme Court judges nominated by the Judicial Council, a 7-member body of legal professionals, and appointed by the Assembly; judge tenure NA; Constitutional Court judges appointed by the Assembly for nonrenewable, 9-year terms
subordinate courts: Courts of Appeal; Basic Courts
Political parties and leaders:
Alliance for Albanians [Ziadin SELA]
Besa Movement [Bilal KASAMI]
Democratic Party of Albanians or PDSh [Menduh THACI]
Democratic Union for Integration or BDI [Ali AHMETI]
Internal Macedonian Revolutionary Organization - Democratic Party for Macedonian National Unity or VMRO-DPMNE [Hristijan MICKOSKI]
Social Democratic Union of Macedonia or SDSM [Zoran ZAEV]
note: during the 2016 parliamentary elections VMRO-DPMNE and SDSM each led coalitions
Political pressure groups and leaders:
Confederation of Free Trade Unions or KSS [Blagoja RALPOVSKI]
Federation of Trade Unions of Macedonia or SSM [Zivko MITREVSKI]
Trade Union of Education, Science and Culture or SONK [Jakim NEDELKOV]
Student Plenum
Eco Guerilla [Arianit XHAFERI]
International organization participation:
BIS, CD, CE, CEI, EAPC, EBRD, EU (candidate country), FAO, IAEA, IBRD, ICAO, ICC (NGOs), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO, ITU, ITUC (NGOs), MIGA, OAS (observer), OIF, OPCW, OSCE, PCA, PFP, SELEC, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNIFIL, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador Vasko NAUMOVSKI (since 18 November 2014)
chancery: 2129 Wyoming Avenue NW, Washington, DC 20008
telephone: [1] (202) 667-0501
FAX: [1] (202) 667-2131
consulate(s) general: Chicago, Detroit, New York
Diplomatic representation from the US:
chief of mission: Ambassador Jess L. BAILY (since 12 February 2015)
embassy: Str. Samolilova, Nr. 21, 1000 Skopje
mailing address: American Embassy Skopje, US Department of State, 7120 Skopje Place, Washington, DC 20521-7120 (pouch)
telephone: [389] (2) 310-2000
FAX: [389] (2) 310-2499
Flag description:
a yellow sun (the Sun of Liberty) with eight broadening rays extending to the edges of the red field; the red and yellow colors have long been associated with Macedonia
National symbol(s):
eight-rayed sun; national colors: red, yellow
National anthem:
name: "Denes nad Makedonija" (Today Over Macedonia)
lyrics/music: Vlado MALESKI/Todor SKALOVSKI
note: written in 1943 and adopted in 1991 , the song previously served as the anthem of the Socialist Republic of Macedonia while part of Yugoslavia

Economy

Economy - overview:
Since its independence in 1991, Macedonia has made progress in liberalizing its economy and improving its business environment. Its low tax rates and free economic zones have helped to attract foreign investment, which is still low relative to the rest of Europe. Corruption and weak rule of law remain significant problems. Some businesses complain of opaque regulations and unequal enforcement of the law.
Macedonia’s economy is closely linked to Europe as a customer for exports and source of investment, and has suffered as a result of prolonged weakness in the euro zone. Unemployment has remained consistently high at about 23%, but may be overstated based on the existence of an extensive gray market, estimated to be between 20% and 45% of GDP, which is not captured by official statistics.
Macedonia is working to build a country-wide natural gas pipeline and distribution network. Currently, Macedonia receives its small natural gas supplies from Russia via Bulgaria. In 2016, Macedonia signed a memorandum of understanding with Greece to build an interconnector that could connect to the Trans Adriatic Pipeline that will traverse the region once complete, or to an LNG import terminal in Greece.
Macedonia maintained macroeconomic stability through the global financial crisis by conducting prudent monetary policy, which keeps the domestic currency pegged to the euro, and inflation at a low level. However, in the last two years, the internal political crisis has hampered economic performance, with GDP growth slowing in 2016 and 2017, and both domestic private and public investments declining. Fiscal policies were lax, with unproductive public expenditures, including subsidies and pension increases, and rising guarantees for the debt of state owned enterprises, and fiscal targets were consistently missed. In 2017, public debt stabilized at about 47% of GDP, still relatively low compared to its Western Balkan neighbors and the rest of Europe.
GDP (purchasing power parity):
$31.55 billion (2017 est.)
$30.78 billion (2016 est.)
$30.06 billion (2015 est.)
note: data are in 2017 dollars; Macedonia has a large informal sector that may not be reflected in these data
country comparison to the world: 130
GDP (official exchange rate):
$11.42 billion (2017 est.)
GDP - real growth rate:
2.5% (2017 est.)
2.4% (2016 est.)
3.8% (2015 est.)
country comparison to the world: 132
GDP - per capita (PPP):
$15,200 (2017 est.)
$14,900 (2016 est.)
$14,500 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 109
Gross national saving:
26.1% of GDP (2017 est.)
30.5% of GDP (2016 est.)
29% of GDP (2015 est.)
country comparison to the world: 45
GDP - composition, by end use:
household consumption: 65.6%
government consumption: 15.6%
investment in fixed capital: 13.6%
investment in inventories: 20.2%
exports of goods and services: 54%
imports of goods and services: -69% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 10%
industry: 30%
services: 60% (2017 est.)
Agriculture - products:
grapes, tobacco, vegetables, fruits; milk, eggs
Industries:
food processing, beverages, textiles, chemicals, iron, steel, cement, energy, pharmaceuticals, automotive parts
Industrial production growth rate:
3% (2017 est.)
country comparison to the world: 104
Labor force:
950,800 (2017 est.)
country comparison to the world: 147
Labor force - by occupation:
agriculture: 16.6%
industry: 29.6%
services: 53.8% (2017 est.)
Unemployment rate:
23.4% (2017 est.)
23.6% (2016 est.)
country comparison to the world: 193
Population below poverty line:
21.5% (2015 est.)
Household income or consumption by percentage share:
lowest 10%: 2.2%
highest 10%: 34.5% (2015 est.)
Distribution of family income - Gini index:
33.7 (2015 est.)
35.2 (2014 est.)
country comparison to the world: 110
Budget:
revenues: $3.314 billion
expenditures: $3.655 billion (2017 est.)
Taxes and other revenues:
29% of GDP (2017 est.)
country comparison to the world: 88
Budget surplus (+) or deficit (-):
-3% of GDP (2017 est.)
country comparison to the world: 114
Public debt:
47.3% of GDP (2017 est.)
47.8% of GDP (2016 est.)
note: official data from Ministry of Finance; data cover central government debt; this data excludes debt instruments issued (or owned) by government entities other than the treasury; includes treasury debt held by foreign entitites; excludes debt issued by sub-national entities; there are no debt instruments sold for social funds
country comparison to the world: 108
Fiscal year:
calendar year
Inflation rate (consumer prices):
0.3% (2017 est.)
-0.2% (2016 est.)
country comparison to the world: 16
Central bank discount rate:
3.25% (31 March 2017 est.)
3.75% (31 December 2016 est.)
note: series discontinued in January 2010; the discount rate has been replaced by a referent rate for calculating the penalty rate
country comparison to the world: 105
Commercial bank prime lending rate:
6.2% (31 December 2017 est.)
6.61% (31 December 2016 est.)
country comparison to the world: 124
Stock of narrow money:
$2.155 billion (31 December 2017 est.)
$1.909 billion (31 December 2016 est.)
country comparison to the world: 132
Stock of broad money:
$5.036 billion (31 December 2017 est.)
$4.574 billion (31 December 2016 est.)
country comparison to the world: 128
Stock of domestic credit:
$5.2 billion (31 December 2017 est.)
$5.01 billion (31 December 2016 est.)
country comparison to the world: 129
Market value of publicly traded shares:
$2.078 billion (31 December 2016 est.)
$1.853 billion (31 December 2015 est.)
$2.269 billion (31 December 2014 est.)
country comparison to the world: 99
Current account balance:
$-261 million (2017 est.)
$-336 million (2016 est.)
country comparison to the world: 93
Exports:
$4.276 billion (2017 est.)
$3.75 billion (2016 est.)
country comparison to the world: 114
Exports - commodities:
foodstuffs, beverages, tobacco; textiles, miscellaneous manufactures, iron, steel; automotive parts
Exports - partners:
Germany 40.9%, Kosovo 13.5%, Serbia 7.7%, Bulgaria 4.5% (2016)
Imports:
$6.446 billion (2017 est.)
$5.805 billion (2016 est.)
country comparison to the world: 112
Imports - commodities:
machinery and equipment, automobiles, chemicals, fuels, food products
Imports - partners:
Germany 12.2%, UK 10.7%, Serbia 7.9%, Greece 7.3%, China 6.2%, Italy 5.6%, Turkey 5.1%, Bulgaria 4.6% (2016)
Reserves of foreign exchange and gold:
$2.794 billion (31 December 2017 est.)
$2.755 billion (31 December 2016 est.)
country comparison to the world: 109
Debt - external:
$8.07 billion (31 December 2017 est.)
$7.685 billion (31 December 2016 est.)
country comparison to the world: 123
Stock of direct foreign investment - at home:
$7.15 billion (31 December 2017 est.)
$6.8 billion (31 December 2016 est.)
country comparison to the world: 98
Stock of direct foreign investment - abroad:
$899.1 million (31 December 2017 est.)
$849.1 million (31 December 2016 est.)
country comparison to the world: 86
Exchange rates:
Macedonian denars (MKD) per US dollar -
55.8 (2017 est.)
55.73 (2016 est.)
55.73 (2015 est.)
55.54 (2014 est.)
46.44 (31 December 2013 est.)

Energy

Electricity access:
electrification - total population: 100% (2016)
Electricity - production:
5.303 billion kWh (2016 est.)
country comparison to the world: 120
Electricity - consumption:
6.455 billion kWh (2016 est.)
country comparison to the world: 112
Electricity - exports:
58.5 million kWh (2016 est.)
country comparison to the world: 83
Electricity - imports:
2.191 billion kWh (2016 est.)
country comparison to the world: 54
Electricity - installed generating capacity:
2.057 million kW (2016 est.)
country comparison to the world: 112
Electricity - from fossil fuels:
64.3% of total installed capacity (2016 est.)
country comparison to the world: 116
Electricity - from nuclear fuels:
0% of total installed capacity (2016 est.)
country comparison to the world: 140
Electricity - from hydroelectric plants:
32.8% of total installed capacity (2016 est.)
country comparison to the world: 65
Electricity - from other renewable sources:
2.9% of total installed capacity (2016 est.)
country comparison to the world: 113
Crude oil - production:
0 bbl/day (2016 est.)
country comparison to the world: 169
Crude oil - exports:
142.3 bbl/day (2014 est.)
country comparison to the world: 80
Crude oil - imports:
0 bbl/day (2014 est.)
country comparison to the world: 159
Crude oil - proved reserves:
0 bbl (1 January 2017 est.)
country comparison to the world: 167
Refined petroleum products - production:
0 bbl/day (2016 est.)
country comparison to the world: 173
Refined petroleum products - consumption:
20,700 bbl/day (2016 est.)
country comparison to the world: 138
Refined petroleum products - exports:
3,900 bbl/day (2016 est.)
country comparison to the world: 100
Refined petroleum products - imports:
23,400 bbl/day (2016 est.)
country comparison to the world: 112
Natural gas - production:
0 cu m (2016 est.)
country comparison to the world: 168
Natural gas - consumption:
471 million cu m (2015 est.)
country comparison to the world: 108
Natural gas - exports:
0 cu m (2016 est.)
country comparison to the world: 148
Natural gas - imports:
60 million cu m (2015 est.)
country comparison to the world: 76
Natural gas - proved reserves:
0 cu m (31 December 2016 )
country comparison to the world: 171
Carbon dioxide emissions from consumption of energy:
7.9 million Mt (2014 est.)
country comparison to the world: 111

Communications

Telephones - fixed lines:
total subscriptions: 368,370
subscriptions per 100 inhabitants: 18 (July 2016 est.)
country comparison to the world: 107
Telephones - mobile cellular:
total: 2,050,494
subscriptions per 100 inhabitants: 97 (July 2016 est.)
country comparison to the world: 151
Telephone system:
general assessment: competition from the mobile-cellular segment of the telecommunications market has led to a drop in fixed-line telephone subscriptions
domestic: combined fixed-line and mobile-cellular telephone subscribership about 120 per 100 persons
international: country code - 389 (2017)
Broadcast media:
public service TV broadcaster Macedonian Radio and Television operates 3 national terrestrial TV channels and 2 satellite TV channels; additionally, there are 10 regional TV stations that broadcast nationally using terrestrial transmitters, 54 TV channels with concession for cable TV, 9 regional TV stations with concessions for cable TV; 4 satellite TV channels broadcasting on a national level, 21 local commercial TV channels, and a large number of cable operators that offer domestic and international programming; the public radio broadcaster operates over 3 stations; there are 4 privately owned radio stations that broadcast nationally; 17 regional radio stations, and 49 local commercial radio stations (2018) (2017)
Internet country code:
.mk
Internet users:
1.475 million
70.4% (July 2016 est.)
country comparison to the world: 123

Transportation

Civil aircraft registration country code prefix:
Z3 (2016)
Airports:
10 (2013)
country comparison to the world: 155
Airports - with paved runways:
total: 8
2,438 to 3,047 m: 2
under 914 m: 6 (2017)
Airports - with unpaved runways:
total: 2
914 to 1,523 m: 1
under 914 m: 1 (2013)
Pipelines:
gas 262 km; oil 120 km (2017)
Railways:
total: 925 km
standard gauge: 925 km 1.435-m gauge (313 km electrified) (2017)
country comparison to the world: 94
Roadways:
total: 14,182 km (includes 290 km of expressways)
paved: 9,633 km
unpaved: 4,549 km (2017)
country comparison to the world: 126

Military & Security

Military expenditures:
0.9% of GDP (2017)
0.97% of GDP (2016)
1.05% of GDP (2015)
1.09% of GDP (2014)
1.17% of GDP (2013)
country comparison to the world: 108
Military branches:
Army of the Republic of Macedonia (ARM; includes General Staff and subordinate Joint Operational Command, Logistic Support Command, Training and Doctrine Command, Special Ops Regiment, Electronic Surveillance Center, and Air Surveillance Center) (2017)
Military service age and obligation:
18 years of age for voluntary military service; conscription abolished in 2008 (2013)

Transnational Issues

Disputes - international:
Kosovo and Macedonia completed demarcation of their boundary in September 2008; Greece continues to reject the use of the name Macedonia or Republic of Macedonia
Refugees and internally displaced persons:
stateless persons: 600 (2016)
note: 479,048 estimated refugee and migrant arrivals (January 2015 - April 2018); Macedonia is predominantly a transit country and hosts fewer than 50 refugees and asylum seekers as of October 2017; 547 migrant arrivals in 2017
Illicit drugs:
major transshipment point for Southwest Asian heroin and hashish; minor transit point for South American cocaine destined for Europe; although not a financial center and most criminal activity is thought to be domestic, money laundering is a problem due to a mostly cash-based economy and weak enforcement

Economic Indicators for Macedonia including actual values, historical data, and latest data updates for the Macedonia economy.