Industrial production in Macedonia shrank 9.1 percent year-on-year in August of 2020, marking the 6th straight month of falling industrial output, due to the coronavirus crisis. Production fell in mining and quarrying (-8.9 percent vs -36.1 percent in July); manufacturing (-8.1 percent vs -6.5 percent), namely manufacture of food, beverages, textiles, wearing apparel, rubber and plastic, basic metals; and utilities (-12.3 percent vs -2.6 percent).
Industrial Production in Macedonia averaged 1.28 percent from 2005 until 2020, reaching an all time high of 24.50 percent in March of 2011 and a record low of -33.50 percent in April of 2020. This page provides - Macedonia Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Macedonia Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
Industrial Production in Macedonia is expected to be -9.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Macedonia to stand at 5.80 in 12 months time. In the long-term, the Macedonia Industrial Production is projected to trend around 6.50 percent in 2021 and 2.50 percent in 2022, according to our econometric models.