Macedonia’s gross domestic products expanded 3 percent year-on-year in the third quarter of 2018, the same as in the previous three month period, remaining the strongest pace of expansion since the economy shrank 1.8 percent in the second quarter of 2017. Household consumption (3 percent from 1.9 percent) and government expenditure (9.6 percent from 7.7 percent) rose faster while fixed investment continued to contract (-8.5 percent from -16.4 percent). Also, net trade contributed positively to growth, as exports jumped 12 percent (from 14.1 percent in Q2) while imports went up 7.5 percent (from 3.4 percent in Q2). GDP Annual Growth Rate in Macedonia averaged 2.68 percent from 2001 until 2018, reaching an all time high of 10.70 percent in the second quarter of 2005 and a record low of -12.70 percent in the third quarter of 2001.
GDP Annual Growth Rate in Macedonia is expected to be 1.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Macedonia to stand at 2.30 in 12 months time. In the long-term, the Macedonia GDP Annual Growth Rate is projected to trend around 2.40 percent in 2020, according to our econometric models.