Macedonia recorded a trade deficit of 196237 USD Thousands in March of 2020.

Balance of Trade in Macedonia averaged -165074.68 USD Thousands from 1994 until 2020, reaching an all time high of -54372 USD Thousands in September of 2006 and a record low of -320202 USD Thousands in December of 2019. This page provides the latest reported value for - Macedonia Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Macedonia Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020.

Balance of Trade in Macedonia is expected to be -185000.00 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 2021, according to our econometric models.

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Macedonia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-196237.00 -218103.00 -54372.00 -320202.00 1994 - 2020 USD Thousands Monthly

Calendar GMT Actual Previous Consensus TEForecast
2020-02-05 11:00 AM Dec $-320M $-203M $ -210M
2020-03-06 11:00 AM Jan $-176M $-320M
2020-04-07 10:00 AM Feb $-218M $-149M $-159M
2020-05-05 10:00 AM Mar $-196M $-218M $ -274M
2020-06-08 10:00 AM Apr $-196M
2020-07-07 10:00 AM May
2020-08-06 10:00 AM Jun $ -185M
2020-09-07 10:00 AM Jul

News Stream
Macedonia Trade Deficit Shrinks in June
Macedonia’s trade gap narrowed to USD 93.0 billion in June of 2019 from USD 185.8 billion in the same month of the previous year. Considering the first half of 2019, the trade gap shrank to USD 1,047 billion from USD 1,102 billion a year earlier. Exports rose 6.5 percent to USD 3,346 billion, boosted mainly by machinery & transport equipment (+9.6 percent) and chemicals & related products (+12.7 percent). Meantime, imports went up at a softer 3.7 percent, mainly due to higher purchases of manufactured goods classified chiefly cy material (+5.6 percent) and chemicals & related products (+10.1 percent). On the other hand, imports fell for machinery and transport equipment (-2.3 percent) and food & live animals (-1.1 percent).
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).

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).