Macedonia has a small, open market economy with one of the lowest GDP per capita in Europe. The main sectors of the Macedonian economy are services (more than 50 percent of GDP) and industry (30 percent of GDP). The textile sector is the main source of foreign trade and accounts for more than 50 percent of total exports. Macedonia also produces iron, steel, wine and vegetables. On the expenditure side, household consumption is the main component of GDP and accounts for 70 percent of its total use, followed by gross fixed capital formation (31 percent) and government expenditure (17 percent). Exports of goods and services account for 48 percent while imports account for 65 percent, subtracting 17 percent of total GDP. This page provides - Macedonia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Macedonia GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on November of 2019.