Macedonia's gross domestic product jumped 13.1 percent year-on-year in the second quarter of 2021, ending a five-quarter period of contraction. It was the highest growth rate ever, amid a low base effect from last year due to the coronavirus lockdown and as the economy consolidated its recovery. Household consumption rose 12.9% (vs 0.4 percent in Q1) and public spending advanced 2.9 percent (vs -2.2 percent in Q1). In addition, gross capital formation increased 38.4 percent (vs -16.6 percent in Q1) while net external demand contributed negatively to the GDP as exports rose less than imports. source: State Statistical Office of the Republic of Macedonia
GDP Annual Growth Rate in Macedonia averaged 2.45 percent from 2001 until 2021, reaching an all time high of 13.10 percent in the second quarter of 2021 and a record low of -14.90 percent in the second quarter of 2020. This page provides - Macedonia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Macedonia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.
GDP Annual Growth Rate in Macedonia is expected to be 4.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Macedonia GDP Annual Growth Rate is projected to trend around 2.70 percent in 2022 and 3.00 percent in 2023, according to our econometric models.