Markets Actual Q3 Q4 Q1 Q2 2021
Currency 54.71 54.98 55.22 55.47 55.72 56.21
Stock Market (points) 4129.52 4056 3987 3920 3854 3721

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Annual Growth Rate (%) 0.20 -2.8 -1.5 1.2 3.8 2.4
Unemployment Rate (%) 16.20 20.8 21.5 22.3 21 19
Inflation Rate (%) -0.20 0.5 0.8 1 1.3 1.2
Interest Rate (%) 1.50 1 1 1 1 1.25
Balance of Trade (USD Thousands) -176466.00 -185000 -221000 -221000 -221000 -222000
Current Account to GDP (%) -0.30 -3.2 -3.2 -4 -4 -4
Government Debt to GDP (%) 40.70 43.1 43.1 45 45 45
Government Budget (% of GDP) -1.80 -4.1 -4.1 -5.2 -5.2 -5.2
Corporate Tax Rate (%) 10.00 10 10 10 10 10
Personal Income Tax Rate (%) 10.00 10 10 10 10 10

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Annual Growth Rate (%) 0.20 -2.8 -1.5 1.2 3.8 2.4
GDP (USD Billion) 12.69 11.9 11.9 12.3 12.3 12.3
GDP Constant Prices (MKD Million) 165683.00 170516 181211 167671 171979 185561
Gross Fixed Capital Formation (MKD Million) 130242.22 128419 128289 131805 135191 131368
GDP per capita (USD) 5394.30 5700 5700 6000 6000 6000
GDP per capita PPP (USD) 13483.42 14500 14500 14500 13435 15000

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 16.20 20.8 21.5 22.3 21 19
Wages (MKD/Month) 38567.00 39158 41170 40727 39828 42813
Population (Million) 2.08 2.09 2.1 2.09 2.09 2.11
Minimum Wages (MKD/Month) 12165.00 14900 14900 14900 14900 16100

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) -0.20 0.5 0.8 1 1.3 1.2
Consumer Price Index CPI (points) 113.93 114 114 115 115 116
Inflation Rate Mom (%) 0.40 0.2 0.2 0.2 0.2 0.2
Food Inflation (%) 1.50 1.6 1.8 1.8 1.8 1.8
Core Inflation Rate (%) 1.80 1.4 1.5 1.5 1.5 1.7
Producer Prices (points) 104.50 109 105 106 106 107
Producer Prices Change (%) -0.30 2.2 1.6 1.6 1.6 2

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 1.50 1 1 1 1 1.25
Deposit Interest Rate (%) 0.15 -0.35 -0.35 -0.35 -0.35 -0.35
Lending Rate (%) 2.00 1.5 1.5 1.5 1.5 1.5

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (USD Thousands) -176466.00 -185000 -221000 -221000 -221000 -222000
Current Account to GDP (%) -0.30 -3.2 -3.2 -4 -4 -4
Imports (USD Thousands) 406040.00 768000 785000 785000 785000 785000
Exports (USD Thousands) 229574.00 583000 564000 564000 564000 579000

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 40.70 43.1 43.1 45 45 45
Government Budget (% of GDP) -1.80 -4.1 -4.1 -5.2 -5.2 -5.2
Government Budget Value (MKD Million) -6766.00 -493 -496 -496 -496 -496
Government Spending (MKD Million) 26898.00 24742 27711 27221 27920 28376

Taxes Actual Q3 Q4 Q1 Q2 2021
Corporate Tax Rate (%) 10.00 10 10 10 10 10
Personal Income Tax Rate (%) 10.00 10 10 10 10 10
Sales Tax Rate (%) 18.00 18 18 18 18 18

Business Actual Q3 Q4 Q1 Q2 2021
Industrial Production (%) -27.00 -9 -1.8 3.2 5.8 6.5
Business Confidence (points) 23.80 -11 -10 -7 -7 5

Consumer Actual Q3 Q4 Q1 Q2 2021
Consumer Spending (MKD Million) 104646.00 113204 116152 105902 108623 118940
Consumer Credit (MKD Million) 176010.00 165183 169434 176730 182698 173500
Gasoline Prices (USD/Liter) 1.10 1.05 0.99 0.94 0.9 0.85
Retail Sales Yoy (%) -15.80 -7 -1.5 -1.5 4.5 5.7


This page has economic forecasts for Macedonia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Macedonia economy.