North Macedonia Current Account Balance Swings to Deficit

2024-05-31 09:23 By Czyrill Jean 1 min. read

Macedonia's current account recorded a USD 185.02 million deficit in the first quarter of 2024, compared to a USD 92.8 million surplus in the same period of the previous year.

This marked the largest trade deficit since the fourth quarter of 2022, as the goods account deficit rose to USD 811.9 million in Q1 2024 from USD 601.1 million a year earlier, and the primary income deficit widened to USD 193.3 million from USD 185.1 million.

Additionally, the secondary income surplus narrowed to USD 518.2 million from USD 625.6 million in Q1 2023.

Meanwhile, the services account surplus increased to USD 301.9 million in Q1 2024 from USD 253.3 million in the same period of the previous year.



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