Markets Actual Q1 Q2 Q3 Q4 2020
Currency 53.97 53.83 54.14 54.46 54.77 55.41
Stock Market (points) 3593.34 3428 3388 3349 3309 3232
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 3.00 2.2 2 2.3 2.6 2.4
Unemployment Rate (%) 20.80 20 19.7 19.1 18.6 16.5
Inflation Rate (%) 0.90 1.5 1.6 1.5 1.7 2.2
Interest Rate (%) 2.50 3.25 3.25 3.5 3.5 4
Balance of Trade (USD Thousands) -185692.00 -165000 -148000 -119943 -165000 -160000
Current Account to GDP (%) -1.30 -1.5 -1.5 -1.5 -1.5 -2
Government Debt to GDP (%) 38.70 42.5 42.5 42.5 42.5 43.1
Government Budget (% of GDP) -2.70 -2.2 -2.2 -2.2 -2.2 -1.8
Corporate Tax Rate (%) 10.00 10 10 10 10 10
Personal Income Tax Rate (%) 10.00 10 10 10 10 10
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 3.00 2.2 2 2.3 2.6 2.4
GDP (USD Billion) 11.34 12.1 12.1 12.1 12.1 12.5
GDP Constant Prices (MKD Million) 172067.00 149008 162822 174046 176541 180778
Gross Fixed Capital Formation (MKD Million) 135317.85 136806 136671 136874 138836 142168
GDP per capita (USD) 5245.36 5500 5500 5500 5500 5590
GDP per capita PPP (USD) 13111.21 13800 13800 13800 13800 13850
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 20.80 20 19.7 19.1 18.6 16.5
Wages (MKD/Month) 36488.00 35000 35757 35763 37000 38000
Minimum Wages (MKD/Month) 12165.00 13400 13400 13400 13400 14900
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 0.90 1.5 1.6 1.5 1.7 2.2
Consumer Price Index CPI (Index Points) 112.90 114 116 115 116 119
Inflation Rate Mom (%) -0.20 0.2 0.1 0.1 0.2 0.2
Producer Prices (Index Points) 101.60 106 106 104 104 106
Producer Prices Change (%) -0.90 0.2 0.5 0.6 0.8 1.6
Food Inflation (%) 0.60 1.1 1.3 1.5 1.6 1.8
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 2.50 3.25 3.25 3.5 3.5 4
Deposit Interest Rate (%) 0.15 0.65 0.65 0.9 0.9 0.9
Lending Rate (%) 3.25 3.75 3.75 4 4 4
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (USD Thousands) -185692.00 -165000 -148000 -119943 -165000 -160000
Current Account to GDP (%) -1.30 -1.5 -1.5 -1.5 -1.5 -2
Imports (USD Thousands) 8299398.00 709000 699000 716035 781000 801000
Exports (USD Thousands) 6357186.00 544000 551000 596092 547000 571000
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 38.70 42.5 42.5 42.5 42.5 43.1
Government Budget (% of GDP) -2.70 -2.2 -2.2 -2.2 -2.2 -1.8
Government Budget Value (MKD Million) -3539.00 -460 -495 -502 -493 -496
Government Spending (MKD Million) 24736.00 24926 25692 25305 25379 25988
Taxes Actual Q1 Q2 Q3 Q4 2020
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 Q1 Q2 Q3 Q4 2020
Industrial Production (%) 4.90 6.5 6.4 6.2 5.8 2.5
Business Confidence (Index Points) 29.70 25.5 23 21 20 15
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Spending (MKD Million) 107564.00 96623 110654 108801 110361 113009
Retail Sales Yoy (%) 6.90 4.3 3.8 2.7 2.8 1
Gasoline Prices (USD/Liter) 1.14 1.07 1.05 1.02 1 1


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.