Macedonia’s gross domestic product grew 2.4 percent year-on-year in the first quarter of 2022, following a 2.3 percent expansion in the previous period, as the economy continues recovering from the pandemic shock. Significant contribution came from gross capital formation (38.6 percent vs 21.2 percent in Q4). Meanwhile, growth slowed for both household consumption (4.9 percent vs 5.7 percent) and government spending (0.5 percent vs 6.5 percent). Also, net foreign demand contributed negatively as exports increased 11.1 percent on year (vs 1.8 percent in Q4) while imports surged at a faster 24.4 percent (vs 13.5 percent). source: State Statistical Office of the Republic of Macedonia
GDP Annual Growth Rate in Macedonia averaged 2.46 percent from 2001 until 2022, reaching an all time high of 13.40 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 June of 2022.
GDP Annual Growth Rate in Macedonia is expected to be 3.00 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 3.00 percent in 2023, according to our econometric models.