The Gross Domestic Product (GDP) in Macedonia expanded 3.90 percent in the first quarter of 2014 over the previous quarter. GDP Growth Rate in Macedonia averaged 3.26 percent from 2004 until 2014, reaching an all time high of 8.20 percent in the second quarter of 2005 and a record low of -2.40 percent in the second quarter of 2009.

Macedonia GDP Growth Rate
Forecast Data Chart
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Macedonia GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 3.00 3.00 10.70 -12.70 percent [+]
GDP 11.34 10.75 11.36 2.32 USD Billion [+]
GDP Constant Prices 172067.00 161210.00 172067.00 59063.00 MKD Million [+]
Gross Fixed Capital Formation 135317.85 143495.57 143495.57 34716.00 MKD Million [+]
GDP per capita 5245.36 5249.22 5249.22 3057.00 USD [+]
GDP per capita PPP 13111.21 13120.87 13120.87 7641.24 USD [+]

Macedonia GDP Growth Rate

Macedonia has a small, open market economy with one of the lowest GDP per capita in Europe. The main sectors of the Macedonian economy are services (more than 50 percent of GDP) and industry (30 percent of GDP). The textile sector is the main source of foreign trade and accounts for more than 50 percent of total exports. Macedonia also produces iron, steel, wine and vegetables. On the expenditure side, household consumption is the main component of GDP and accounts for 70 percent of its total use, followed by gross fixed capital formation (31 percent) and government expenditure (17 percent). Exports of goods and services account for 48 percent while imports account for 65 percent, subtracting 17 percent of total GDP. This page provides - Macedonia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Macedonia GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
3.90 3.10 8.20 -2.40 2004 - 2014 percent Quarterly

Country Last Previous
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
Singapore 3.00 Sep/18
South Africa 2.20 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Russia 0.90 Jun/18
Brazil 0.80 Sep/18
Mexico 0.80 Sep/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
Canada 0.50 Sep/18
France 0.40 Sep/18
Australia 0.30 Sep/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Saudi Arabia -0.05 Mar/18
Italy -0.10 Sep/18
Germany -0.20 Sep/18
Switzerland -0.20 Sep/18
Japan -0.60 Sep/18
Argentina -0.70 Sep/18
Turkey -1.10 Sep/18