Markets Actual Q3 Q4 Q1 Q2 2022
Currency 51.96 52.25 52.53 52.82 53.11 53.7
Stock Market (points) 5388.89 5289 5217 5146 5075 4937

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Annual Growth Rate (%) -1.90 4.8 2.3 3.3 4 2.7
Unemployment Rate (%) 16.00 16.9 17.5 18.6 18 17
Inflation Rate (%) 2.70 1.5 1.6 1.3 1.4 2.2
Interest Rate (%) 1.25 1.25 1.25 1.5 1.5 1.75
Balance of Trade (USD Thousands) -249075.00 -221000 -222000 -222000 -222000 -222000
Current Account to GDP (% of GDP) -3.30 -3.3 -3.3 -2.7 -2.7 -2.7
Government Debt to GDP (% of GDP) 40.70 53.7 53.7 55 55 55
Government Budget (% of GDP) -2.00 -5.2 -5.2 -4.3 -4.3 -4.3
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 2022
GDP Annual Growth Rate (%) -1.90 4.8 2.3 3.3 4 2.7
GDP (USD Billion) 12.27 13.79 13.79 14.82 14.82 14.82
GDP Constant Prices (MKD Million) 162705.00 162513 193268 192134 168074 197321
Gross Fixed Capital Formation (MKD Million) 146077.79 158494 145580 149438 150898 153472
GDP per capita (USD) 5371.00 5500 5500 5500 5500 5700
GDP per capita PPP (USD) 15848.42 16400 16400 16400 16400 16600

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 16.00 16.9 17.5 18.6 18 17
Wages (MKD/Month) 42917.00 42386 43642 43474 44320 45383
Population (Million) 2.08 2.09 2.11 2.11 2.11 2.12
Minimum Wages (MKD/Month) 14500.00 14900 16100 16100 16100 16100

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 2.70 1.5 1.6 1.3 1.4 2.2
Consumer Price Index CPI (points) 117.03 117 118 118 119 120
Inflation Rate Mom (%) 0.70 0.2 0.2 0.2 0.2 0.2
Food Inflation (%) 1.90 2.9 2.5 2.3 2.3 2
Core Inflation Rate (%) 2.10 1.5 1.7 1.7 1.7 1.7
Producer Prices (points) 114.40 112 111 116 117 113
Producer Prices Change (%) 11.60 5.5 4.5 4.5 2 1.8

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 1.25 1.25 1.25 1.5 1.5 1.75
Deposit Interest Rate (%) 0.15 0.15 -0.6 0.15 0.4 0.65
Lending Rate (%) 1.75 1.75 2 1.75 2 2.25

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (USD Thousands) -249075.00 -221000 -222000 -222000 -222000 -222000
Current Account to GDP (% of GDP) -3.30 -3.3 -3.3 -2.7 -2.7 -2.7
Imports (USD Thousands) 913493.00 785000 785000 785000 785000 785000
Exports (USD Thousands) 664417.00 564000 579000 579000 579000 579000

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 40.70 53.7 53.7 55 55 55
Government Budget (% of GDP) -2.00 -5.2 -5.2 -4.3 -4.3 -4.3
Government Budget Value (MKD Million) -5032.00 -496 -496 -496 -496 -496
Government Spending (MKD Million) 27247.00 30202 28342 29634 28146 30434

Taxes Actual Q3 Q4 Q1 Q2 2022
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 2022
Industrial Production (%) 16.50 7.6 3.1 1.8 1.5 2
Business Confidence (points) 28.60 27 27.4 30 28.5 28.2

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Spending (MKD Million) 106547.00 114670 120531 119797 110063 123032
Gasoline Prices (USD/Liter) 1.37 1.3 1.24 1.18 1.12 1.06
Consumer Credit (MKD Million) 193906.00 192236 190088 194924 201662 195220
Retail Sales Yoy (%) 19.20 7 5.7 1 1.2 2.5


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.