Markets Actual Q1 Q2 Q3 Q4 2023
Currency 54.57 54.45 54.71 54.98 55.25 55.79
Stock Market (points) 6301.12 6242 6153 6065 5978 5809

Overview Actual Q1 Q2 Q3 Q4 2023
GDP Annual Growth Rate (%) 3.00 3.8 3 2.8 2.7 3
Unemployment Rate (%) 15.70 15 14.7 14.4 14.2 13.1
Inflation Rate (%) 4.90 4.3 3.8 3 2.8 2.2
Interest Rate (%) 1.25 1.5 1.5 1.75 1.75 2.25
Balance of Trade (USD Thousands) -299360.00 -206000 -206000 -206000 -206000 -206000
Current Account to GDP (% of GDP) -3.50 -2.7 -2.7 -2.7 -2.7 -2.5
Government Debt to GDP (% of GDP) 51.20 55 55 55 55 55.5
Government Budget (% of GDP) -8.10 -4.3 -4.3 -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 Q1 Q2 Q3 Q4 2023
GDP Annual Growth Rate (%) 3.00 3.8 3 2.8 2.7 3
GDP (USD Billion) 12.27 14.82 14.82 14.82 14.82 15.72
GDP Constant Prices (MKD Million) 182618.00 192697 168888 178087 187731 197900
Gross Fixed Capital Formation (MKD Million) 146077.79 145580 149876 151629 150460 153922
GDP per capita (USD) 5092.68 5500 5500 5500 5700 5700
GDP per capita PPP (USD) 15848.42 16400 16400 16400 16600 16600

Labour Actual Q1 Q2 Q3 Q4 2023
Unemployment Rate (%) 15.70 15 14.7 14.4 14.2 13.1
Wages (MKD/Month) 43509.00 43612 44281 44548 45004 46799
Population (Million) 2.08 2.11 2.11 2.11 2.12 2.12
Minimum Wages (MKD/Month) 14500.00 16100 16100 16100 16100 16100

Prices Actual Q1 Q2 Q3 Q4 2023
Inflation Rate (%) 4.90 4.3 3.8 3 2.8 2.2
Consumer Price Index CPI (points) 121.01 121 123 123 124 127
Food Inflation (%) 6.90 2.3 2.3 2.3 2 2
Core Inflation Rate (%) 4.10 3.6 2.7 1.9 1.7 1.1
Producer Prices (points) 123.00 125 128 128 130 137
Producer Prices Change (%) 16.30 12.2 9.5 6 5.5 5.5
Inflation Rate Mom (%) 0.40 0.2 0.2 0.2 0.2 0.2

Money Actual Q1 Q2 Q3 Q4 2023
Interest Rate (%) 1.25 1.5 1.5 1.75 1.75 2.25
Deposit Interest Rate (%) 0.15 0.4 0.4 0.65 0.65 0.65
Lending Rate (%) 1.75 2 2 2.25 2.25 2.25

Trade Actual Q1 Q2 Q3 Q4 2023
Balance of Trade (USD Thousands) -299360.00 -206000 -206000 -206000 -206000 -206000
Current Account to GDP (% of GDP) -3.50 -2.7 -2.7 -2.7 -2.7 -2.5
Imports (USD Thousands) 1001168.00 785000 785000 785000 785000 785000
Exports (USD Thousands) 701808.00 579000 579000 579000 579000 579000

Government Actual Q1 Q2 Q3 Q4 2023
Government Debt to GDP (% of GDP) 51.20 55 55 55 55 55.5
Government Budget (% of GDP) -8.10 -4.3 -4.3 -4.3 -4.3 -4.3
Government Budget Value (MKD Million) -6453.00 -496 -496 -496 -496 -496
Government Spending (MKD Million) 29596.00 29091 28282 30733 30673 29877

Taxes Actual Q1 Q2 Q3 Q4 2023
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 Q1 Q2 Q3 Q4 2023
Industrial Production (%) 4.70 1.8 1.5 1.5 2 2
Business Confidence (points) 27.20 30 28.5 28.5 28.2 28.5

Consumer Actual Q1 Q2 Q3 Q4 2023
Consumer Spending (MKD Million) 118387.00 120149 110596 125082 121702 123393
Gasoline Prices (USD/Liter) 1.35 1.28 1.22 1.16 1.1 1.05
Consumer Credit (MKD Million) 199357.00 190645 195867 199723 202647 195793
Retail Sales Yoy (%) 9.00 1 1.2 1.2 2.5 2.5


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Macedonia Forecast - was last updated on Tuesday, January 25, 2022.