Macedonia recorded a trade deficit of 202768 USD Thousands in November of 2019. Balance of Trade in Macedonia averaged -164026.28 USD Thousands from 1994 until 2019, reaching an all time high of -54372 USD Thousands in September of 2006 and a record low of -310800 USD Thousands in October of 2007.

Balance of Trade in Macedonia is expected to be -274000.00 USD Thousands by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Macedonia to stand at -221000.00 in 12 months time. In the long-term, the Macedonia Balance of Trade is projected to trend around -222000.00 USD Thousands in 2020, according to our econometric models.

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Macedonia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-202768.00 -222068.00 -54372.00 -310800.00 1994 - 2019 USD Thousands Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-10-04 10:20 AM Aug $-183M $-206M $-170M
2019-11-05 10:20 AM Sep $-183M $-183M $-90M
2019-12-05 11:00 AM Oct $-220M $-95M $-200M
2020-01-08 12:30 PM Nov $-203M $-222M $-193M
2020-02-05 11:00 AM Dec $-203M $ -210M


News Stream
2019-07-04
Macedonia Trade Gap Widens in May
The trade deficit in Macedonia rose to USD 171 billion in May of 2019 from USD 143.1 billion in the same month of the previous year. Exports jumped 4.3 percent from a year earlier to USD 621.4 billion while imports went up 7.2 percent to USD 792.4 billion. Considering the January-May period, the trade gap widened slightly to USD 946.1 billion from USD 916.1 billion in the same period a year ago. Exports rose 6.4 percent to USD 2,959.9 billion, boosted by sales of machinery & transport equipment (9.2 percent); chemicals & related products (9.9 percent) and manufactured goods (6.0 percent). Among major trading partners, exports rose to Germany (10.9 percent) and Kosovo (29.2 percent). Meantime, imports went up 5.6 percent to USD 3,906.1 billion, due to higher purchases of manufactured goods (8.9 percent); chemicals & related products (12.5 percent) and mineral fuels, lubricants & related materials (12 percent). Imports went up mainly from the UK (26.3 percent) and Greece (0.5 percent).

2019-05-06
Macedonia Trade Gap Narrows in March
The trade deficit in Macedonia fell to USD 175.3 billion in March of 2019 from USD 269.8 billion in the same month of the previous year. Exports jumped 25.5% from a year earlier to USD 659.6 billion while imports went up at a softer 5% to USD 834.9 billion. Considering the first quarter of the year, the trade gap narrowed to USD 520.6 billion from USD 583.0 billion in Q1 2018. Exports rose 7.7% to USD 1,735.7 billion, boosted by sales of machinery & transport equipment (+17.1%); chemicals & related products (+9.2%) and manufactured goods classified chiefly by material (+12%). Among major trading partners, exports rose to Germany (9.8%); Kosovo (27.5%) and Belgium (14%). Meanwhile, imports went up 2.8% to USD 2,256.3 billion, due to higher purchases of manufactured goods classified chiefly by material (+2.9%); chemicals & related products (+14.6%) and mineral fuels, lubricants & related materials (+12.8%). Imports went up mainly from the UK (13%); Italy (2.9%) and Turkey (7.3%).

2019-04-04
Macedonia Trade Gap Widens in February
Macedonia's trade deficit widened to USD 165.4 million in February 2019 from USD 145.0 million in the same month of the previous year. Imports rose 7.5 percent year-on-year to USD 766.4 million and exports increased 5.8 percent to USD 601.0 million. Considering the first two months of the year, the trade gap rose to USD 341.7 million from USD 313.9 million in the same period of 2018, as sales fell 1 percent to USD 1,075 million driven by chemicals & related products (-10.3%); miscellaneous goods & services (-12.5%); crude materials inedible except fuels (-6.1%) and beverages & tobacco (-19.6 %). Among major trading partners, exports dropped to Germany (-6.7%), Greece (-26.2%) and Serbia (-12.4%). Purchases went up 1.3 percent to USD 1,416.7 million, namely chemicals & related products (19.7%); crude materials inedible except fuels (24.6%), beverages & tobacco (18.4%) and mineral fuels & lubricants (15.5%). Imports advanced from Italy (1.9%), Turkey (5.2%) and Poland (23.4%).

2019-03-05
Macedonia Trade Gap Rises in January
Macedonia's trade deficit widened 4.2% year-on-year to USD 176.0 million in January of 2019 from USD 168.9 million in the same month of the previous year. Exports dropped 8.5% year-on-year to USD 473.7 million, mainly dragged down by chemicals and related products (-11.2%); manufactured goods (-34.5%); miscellaneous manufactured (-18%); crude materials (-12.9%); and beverages and tobacco (-31.9%). Sales decreased mainly to Germany (-12.7%); Bulgaria (-24.5%); Serbia (-38.6%); and Greece (-33.4%). Imports dropped 5.3% to USD 649.8 million, mainly due to manufactured goods (-8.5%); machinery and transport equipment (-6.9%); chemicals (-4%); food and live animals (-7.1%); and miscellaneous (-9.3%). Purchases fell mainly from Germany (-7.1%); the UK (-16.3%); Greece (-8.4%); and China (-3.9%).


Macedonia Balance of Trade
Macedonia exports mostly supported catalysts with precious metal or precious metal compounds as the active substance, ferro-nickel, iron and steel products (flat-rolled products), clothes, and petroleum oil preparations. Macedonia imports crude oil, platinum and platinum alloys, motor vehicles and electricity. Macedonia's most important trading partners are Germany, Serbia, Bulgaria, Russia and Greece (44.0% of the total international commodity trade).

Macedonia Trade Last Previous Highest Lowest Unit
Balance of Trade -202768.00 -222068.00 -54372.00 -310800.00 USD Thousands [+]
Current Account 92.50 53.30 107.80 -243.60 USD Million [+]
Current Account to GDP -0.30 -1.00 -0.30 -12.70 percent [+]
Imports 830170.00 847084.00 900855.00 152532.00 USD Thousands [+]
Exports 627402.00 625016.00 691351.00 78768.00 USD Thousands [+]
Capital Flows 98.40 79.50 133.60 -240.20 USD Million [+]
Foreign Direct Investment 40.82 72.94 344.80 -62.66 EUR Million [+]
Gold Reserves 6.90 6.90 6.90 2.76 Tonnes [+]
Tourist Arrivals 645.00 973.00 2163.00 210.00 Hundreds [+]
Terrorism Index 0.30 0.65 4.50 0.30 [+]
External Debt 8324.09 8249.67 8386.15 2080.17 EUR Million [+]