Macedonia's gross domestic products advanced 3.7 percent year-on-year in the fourth quarter of 2018, quickening from a 3 percent growth in the previous period. It is the fastest expansion since the fourth quarter of 2015. Household consumption rose faster (4.6 percent vs 3 percent in Q3) and gross capital formation rebounded (1.6 percent vs -8.5 percent). Meantime, government spending grew less (4.7 percent vs 9.6 percent). The net trade contributed positively to growth, as exports jumped 21.7 percent (vs 12 percent in Q3) and imports advanced at a slower 17.5 percent (vs 7.5 percent in Q3). On the production side, main drivers of growth were construction (19.6 percent vs -2.6 percent); manufacturing (6.3 percent vs 4.1 percent) and mining & utilities (5.4 percent vs 3.6 percent). In 2018, the economy expanded 2.7 percent, far above 0.2 percent in 2017. GDP Annual Growth Rate in Macedonia averaged 2.71 percent from 2001 until 2018, 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 2.20 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 2.60 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
2018-06-07 12:55 PM GDP Growth Rate YoY 0.1% 1.2% 1.9%
2018-09-07 09:35 AM GDP Growth Rate YoY 3.1% 0.1% 1.2%
2018-12-07 11:20 AM GDP Growth Rate YoY 3% 3% 1.5%
2019-03-08 11:00 AM GDP Growth Rate YoY 3.7% 3% 1.8%
2019-06-07 10:00 AM GDP Growth Rate YoY 3.7% 2.2%
2019-09-06 10:00 AM GDP Growth Rate YoY 2%
2019-12-06 11:00 AM GDP Growth Rate YoY 2.2%


Macedonia GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 3.70 3.00 10.70 -12.70 percent [+]
GDP 11.34 10.75 11.36 2.32 USD Billion [+]
GDP Constant Prices 179644.00 172067.00 179644.00 59063.00 MKD Million [+]
Gross Fixed Capital Formation 135317.85 143495.57 143495.57 34716.00 MKD Million [+]
GDP per capita 5245.36 5249.22 5249.22 3057.00 USD [+]
GDP per capita PPP 13111.21 13120.87 13120.87 7641.24 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 April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.70 3.00 10.70 -12.70 2001 - 2018 percent Quarterly




Country Last Previous
India 6.60 Dec/18
China 6.40 Mar/19
Indonesia 5.18 Dec/18
Saudi Arabia 3.60 Dec/18
United States 3.00 Dec/18
Russia 2.70 Dec/18
Australia 2.30 Dec/18
Spain 2.30 Dec/18
Netherlands 2.20 Dec/18
South Korea 1.80 Mar/19
Mexico 1.70 Dec/18
Canada 1.60 Dec/18
Switzerland 1.40 Dec/18
United Kingdom 1.40 Dec/18
Singapore 1.30 Mar/19
Brazil 1.10 Dec/18
Euro Area 1.10 Dec/18
South Africa 1.10 Dec/18
France 1.00 Dec/18
Germany 0.60 Dec/18
Japan 0.30 Dec/18
Italy 0.00 Dec/18
Turkey -3.00 Dec/18
Argentina -6.20 Dec/18


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