Macedonia


Macedonia Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Macedonia; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank National Bank of the Republic of Macedonia
International Reserves US$ 2.667 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 10.055 billion (2011 estimate)
GDP (Purchasing Power Parity) 22.052 billion of International dollars (2011 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
-4.5% 0.9% 2.8% 4.1% 4.1% 3.9% 6.1% 5%
2009 2010 2011 2012*
-0.9% 1.8% 3% 2%

*Estimate

GDP per capita - current prices US$ 4,875 (2010 estimate)
GDP per capita - PPP $10,692 International Dollars (2010 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
N/A N/A 0.03% 0.03% 0.03%

**Forecast

GDP - composition by sector
  • agriculture: 12% 
  • industry: 29.7% 
  • services: 58.4% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
-0.8%(2008) 1.5% 3.9% 2%

*Estimate

Unemployment rate
2009 2010 2011 2012*
32.2% 32.1% 31.2%(2009) 31.2%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
20.6% 23.8% 24.8% 28.1% 30.5%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-0.9% -2.7% -2.5% -2.6% -2.6%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BB

Moody's rating: N/A

Moody's outlook: N/A

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$922.2 million US$2.647 billion US$2.504 billion
Largest companies in Macedonia N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -507 million (2011 estimate)(After 2008)
Current account balance by percentage of GDP -5% of GDP (2011 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

47.3% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.02%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.03% (2011)(2007)

(Data were released in 2012)

Total exports US$4.002 billion (2012 estimate) 
Export commodities food, beverages, tobacco; textiles, miscellaneous manufactures, iron, steel; automotive parts
Total imports US$6.511 billion (2012 estimate) 
Import commodities machinery and equipment, automobiles, chemicals, fuels, food products
Exports - major partners Germany 28.5%, Italy 7.3%, Bulgaria 5.4%, Greece 5% (2011)
Imports - major partners Germany 13.1%, Greece 13.1%, Bulgaria 11.1%, UK 7.9%, Turkey 5.4%, Italy 5.4% (2011)
FDI inflows
2009 2010 2011
US$201 million US$211 million(2009) US$422 million(2009)
FDI outflows
2009 2010 2011
US$11 million US$2 million US$2 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
N/A N/A(2009) N/A(2009) N/A
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 23 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 5 out of 185 countries(2009)

Enforcing Contracts: 59 out of 185 countries

Registering Property: 50 out of 185 countries

Getting credit: 23 out of 185 countries

Protecting investors: 19 out of 185 countries

Trading across border: 76 out of 185 countries

Paying Taxes: 24 out of 185 countries

Dealing with Construction Permits: 65 out of 185 countries

Getting Electricity: 101 out of 185 countries

Resolving Insolvency: 60 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
80

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 43 Score: 68.5 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+1
Total area 25,713 km2 (2006)
Capital Skopje (2009)
Currency Macedonian denars (MKD) (2009)
Government type parliamentary democracy (2009)
Languages Macedonian 66.5%, Albanian 25.1%, Turkish 3.5%, Roma 1.9%, Serbian 1.2%, other 1.8% (2002 census)
Religions Macedonian Orthodox 64.7%, Muslim 33.3%, other Christian 0.37%, other and unspecified 1.63% (2002 census)
Total population
1980 1990 2000 2012* 2017**
N/A N/A 2.01 million 2.07 million 2.09 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
34% 53.5% 62.9% 59.3%
Population median age N/A
Population growth rate 0.2% (2011)
Life expectancy 75 years (2010)
Adult literacy 97% (2005/2010)
% of population living on less than $2 a day 4.26% (2011)
Inequality of wealth distribution (Gini index)

43.17 (2009)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:3
Civil Liberties:3 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

124.55% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 58% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Skopje: 200th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

N/A

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Komercijalna Banka AD Skopje (National, 2012)
2011:
  • COUNTRY WINNERS Komercijalna Banka AD Skopje (Zeti Akhtar Aziz, 2011)
2010:
  • COUNTRY WINNERS Komercijalna Bank (National, 2010)
2009:
  • COUNTRY WINNERS Komercijalna Banka (Global, 2009)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS Komercijalna Banka ad Skopje (Asia, 2013)
2012:
  • COUNTRY WINNERS Komercijalna Banka ad Skopje (National, 2012)
2011:
  • COUNTRY WINNERS Komercijalna Banka ad Skopje (National, 2011)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE