Macedonia recorded a Current Account deficit of 3.50 percent of the country's Gross Domestic Product in 2020. source: Ministry of Finance

Current Account to GDP in Macedonia averaged -3.99 percent of GDP from 1998 until 2020, reaching an all time high of -0.10 percent of GDP in 2018 and a record low of -12.70 percent of GDP in 2008. This page provides - Macedonia Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Macedonia Current Account to GDP - values, historical data and charts - was last updated on September of 2021.

Current Account to GDP in Macedonia is expected to reach -3.30 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Macedonia Current Account to GDP is projected to trend around -2.70 percent of GDP in 2022 and -2.50 percent of GDP in 2023, according to our econometric models.

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Macedonia Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
-3.50 -3.30 -0.10 -12.70 1998 - 2020 percent of GDP Yearly

Macedonia Trade Last Previous Highest Lowest Unit
Balance of Trade -252907.00 -267700.00 -54372.00 -327720.00 USD Thousands [+]
Current Account 1.54 -9.75 107.80 -243.60 USD Million [+]
Current Account to GDP -3.50 -3.30 -0.10 -12.70 percent of GDP [+]
Imports 946963.00 974175.00 1064550.00 152532.00 USD Thousands [+]
Exports 694056.00 703984.00 736830.00 78768.00 USD Thousands [+]
Capital Flows 31.81 19.19 133.60 -240.20 USD Million [+]
Foreign Direct Investment 35.61 20.67 344.80 -62.66 EUR Million [+]
Gold Reserves 6.89 6.89 6.90 2.76 Tonnes [+]
Terrorism Index 0.11 0.30 4.50 0.11 [+]
External Debt 9833.40 8630.32 9833.40 2080.17 EUR Million [+]
Tourist Arrivals 1363.00 472.00 2163.00 7.00 Hundreds [+]


Macedonia Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.