The gross domestic product in Macedonia expanded 4.1 percent year-on-year in the first quarter of 2019, accelerating from a 3.7 percent advance in the previous three-month period. It was the highest growth rate since the last quarter of 2015, as gross fixed capital formation rose 9.9 percent, faster than a 1.6 percent increase in Q4. Also, net foreign demand contributed positively to growth, as exports jumped 15.6 percent (from 21.7 percent in Q4) and imports went up at a softer 14.4 percent (from 17.5 percent). Meanwhile, both household consumption (2.6 percent from 4.6 percent) and government expenditure (0.1 percent from 4.7 percent) slowed. GDP Annual Growth Rate in Macedonia averaged 2.73 percent from 2001 until 2019, reaching an all time high of 10.70 percent in the second quarter of 2005 and a record low of -12.70 percent in the third quarter of 2001.

GDP Annual Growth Rate in Macedonia is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Macedonia to stand at 2.20 in 12 months time. In the long-term, the Macedonia GDP Annual Growth Rate is projected to trend around 2.40 percent in 2020, according to our econometric models.

Macedonia GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-07 09:35 AM GDP Growth Rate YoY Q2 3.1% 0.1% 1.2%
2018-12-07 11:20 AM GDP Growth Rate YoY Q3 3% 3% 1.5%
2019-03-08 11:00 AM GDP Growth Rate YoY Q4 3.7% 3% 1.8%
2019-06-07 10:00 AM GDP Growth Rate YoY Q1 4.1% 3.7% 2.2%
2019-09-06 10:00 AM GDP Growth Rate YoY Q2 4.1% 2%
2019-12-06 11:00 AM GDP Growth Rate YoY Q3 2.2%


Macedonia GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 4.10 3.70 10.70 -12.70 percent [+]
GDP 12.67 11.28 12.67 2.44 USD Billion [+]
GDP Constant Prices 156355.00 179644.00 179644.00 59063.00 MKD Million [+]
Gross Fixed Capital Formation 135317.85 143495.57 143495.57 34716.00 MKD Million [+]
GDP per capita 5394.30 5256.70 5394.30 3057.00 USD [+]
GDP per capita PPP 13483.42 13139.54 13483.42 7641.16 USD [+]


Macedonia GDP Annual Growth Rate

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 Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Macedonia GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
4.10 3.70 10.70 -12.70 2001 - 2019 percent Quarterly




Country Last Previous
China 6.20 Jun/19
India 5.80 Mar/19
Indonesia 5.05 Jun/19
Spain 2.30 Jun/19
United States 2.30 Jun/19
South Korea 2.10 Jun/19
Netherlands 2.00 Jun/19
Australia 1.80 Mar/19
Saudi Arabia 1.70 Mar/19
Switzerland 1.70 Mar/19
Canada 1.30 Mar/19
France 1.30 Jun/19
Japan 1.20 Jun/19
United Kingdom 1.20 Jun/19
Euro Area 1.10 Jun/19
Russia 0.90 Jun/19
Brazil 0.50 Mar/19
Germany 0.40 Jun/19
Singapore 0.10 Jun/19
Italy 0.00 Jun/19
South Africa 0.00 Mar/19
Mexico -0.70 Jun/19
Turkey -2.60 Mar/19
Argentina -5.80 Mar/19


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