Markets Actual Q1 Q2 Q3 Q4 2020
Currency 55.59 55.49 55.74 55.99 56.24 56.75
Stock Market (points) 4919.07 4608 4573 4538 4503 4434
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 3.60 2.2 2.8 2.6 2.4 2.4
Unemployment Rate (%) 17.10 16.6 16.4 16.2 15.7 12.9
Inflation Rate (%) 0.40 1 1.5 1.9 2.2 2.2
Interest Rate (%) 2.25 1.75 1.75 1.75 1.5 2
Balance of Trade (USD Thousands) -202768.00 -274000 -185000 -185000 -221000 -222000
Current Account to GDP (%) -0.30 -1.7 -1.7 -1.7 -1.7 -1.9
Government Debt to GDP (%) 40.70 43.1 43.1 43.1 43.1 45
Government Budget (% of GDP) -1.80 -2.4 -2.4 -2.4 -2.4 -2.3
Corporate Tax Rate (%) 10.00 10 10 10 10 10
Personal Income Tax Rate (%) 10.00 10 10 10 10 10
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 3.60 2.2 2.8 2.6 2.4 2.4
GDP (USD Billion) 12.67 14 14 14 14 16
GDP Constant Prices (MKD Million) 174897.00 158075 168292 177171 179095 183393
Gross Fixed Capital Formation (MKD Million) 130242.22 131675 132066 131935 133368 136569
GDP per capita (USD) 5394.30 5700 5700 5700 5700 6000
GDP per capita PPP (USD) 13483.42 14500 14500 14500 14500 15000
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 17.10 16.6 16.4 16.2 15.7 12.9
Wages (MKD/Month) 38319.00 37789 38601 39033 39540 41118
Population (Million) 2.08 2.09 2.09 2.09 2.1 2.11
Minimum Wages (MKD/Month) 12165.00 14900 14900 14900 14900 16100
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 0.40 1 1.5 1.9 2.2 2.2
Consumer Price Index CPI (points) 113.32 114 115 115 116 118
Inflation Rate Mom (%) 0.30 0.2 0.2 0.2 0.2 0.2
Producer Prices (points) 105.30 108 107 109 108 110
Producer Prices Change (%) 3.70 3.8 2.9 2.2 1.6 2
Food Inflation (%) 0.90 1.6 1.6 1.6 1.8 1.8
Core Inflation Rate (%) 0.80 1.4 1.4 1.4 1.5 1.7
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 2.25 1.75 1.75 1.75 1.5 2
Deposit Interest Rate (%) 0.15 -0.35 -0.35 -0.35 -0.6 -0.6
Lending Rate (%) 2.75 2.25 2.25 2.25 2 2
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (USD Thousands) -202768.00 -274000 -185000 -185000 -221000 -222000
Current Account to GDP (%) -0.30 -1.7 -1.7 -1.7 -1.7 -1.9
Imports (USD Thousands) 830170.00 811000 768000 768000 785000 785000
Exports (USD Thousands) 627402.00 537000 583000 583000 564000 579000
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 40.70 43.1 43.1 43.1 43.1 45
Government Budget (% of GDP) -1.80 -2.4 -2.4 -2.4 -2.4 -2.3
Government Budget Value (MKD Million) -2096.00 -493 -493 -493 -496 -496
Government Spending (MKD Million) 25093.00 25418 26641 25419 25695 26312
Taxes Actual Q1 Q2 Q3 Q4 2020
Corporate Tax Rate (%) 10.00 10 10 10 10 10
Personal Income Tax Rate (%) 10.00 10 10 10 10 10
Sales Tax Rate (%) 18.00 18 18 18 18 18
Business Actual Q1 Q2 Q3 Q4 2020
Industrial Production (%) -2.10 4.5 4.2 3.6 3.3 3.3
Business Confidence (points) 33.90 28 25 20 17 17
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Spending (MKD Million) 114811.00 100366 116156 116304 117566 120388
Retail Sales Yoy (%) 10.60 9.5 2.8 2.8 1 1
Gasoline Prices (USD/Liter) 1.25 1.37 1.41 1.44 1.48 1.48
Consumer Credit (MKD Million) 172014.00 160294 166258 169706 173385 177546


This page has economic forecasts for Macedonia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Macedonia economy.