Markets Actual Q3 Q4 Q1 Q2 2023
Currency 59.14 59.62 60.37 61.13 61.13 62.68
Stock Market (points) 5806.80 5526 5392 5262 5262 5012

Overview Actual Q3 Q4 Q1 Q2 2023
GDP Annual Growth Rate (%) 2.40 2.8 2.7 2.7 2.7 3
Unemployment Rate (%) 14.80 14.4 14.2 14.2 14.2 13.1
Inflation Rate (%) 11.90 9 7 5 3.8 2.7
Interest Rate (%) 1.75 2.25 2.5 2.75 2.75 2.75
Balance of Trade (USD Thousands) -437514.00 -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) 51.80 55 55 55 55 55.5
Government Budget (% of GDP) -5.40 -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 Q3 Q4 Q1 Q2 2023
GDP Annual Growth Rate (%) 2.40 2.8 2.7 2.7 2.7 3
GDP (USD Billion) 12.27 14.82 14.82 14.82 14.82 15.72
GDP Constant Prices (MKD Million) 180836.00 178087 187731 213376 185719 219777
Gross Fixed Capital Formation (MKD Million) 144779.08 149991 149122 148833 148688 153149
GDP per capita (USD) 5092.68 5500 5700 5700 5700 5700
GDP per capita PPP (USD) 15848.42 16400 16600 16600 16600 16600
Full Year GDP Growth (%) 4.00 2.3 2.3 3 3 3

Labour Actual Q3 Q4 Q1 Q2 2023
Unemployment Rate (%) 14.80 14.4 14.2 14.2 14.2 13.1
Wages (MKD/Month) 47092.00 44496 44474 46247 47948 48092
Population (Million) 2.08 2.11 2.12 2.12 2.12 2.12
Minimum Wages (MKD/Month) 18000.00 16100 16100 16100 16100 16100

Prices Actual Q3 Q4 Q1 Q2 2023
Inflation Rate (%) 11.90 9 7 5 3.8 2.7
Consumer Price Index CPI (points) 129.30 133 130 130 133 134
Food Inflation (%) 17.07 7 6 4.8 4.8 5
Core Inflation Rate (%) 8.50 7.9 4.7 3.7 3 2.5
Producer Prices (points) 138.80 132 131 131 144 138
Producer Prices Change (%) 23.30 9 5.5 5.5 5.5 5.5
Inflation Rate Mom (%) 2.20 0.7 0.5 0.3 0.3 0.3

Money Actual Q3 Q4 Q1 Q2 2023
Interest Rate (%) 1.75 2.25 2.5 2.75 2.75 2.75
Deposit Interest Rate (%) 0.15 0.4 0.65 0.9 1.15 1.15
Lending Rate (%) 2.00 2.25 2.5 2.75 3 3

Trade Actual Q3 Q4 Q1 Q2 2023
Balance of Trade (USD Thousands) -437514.00 -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) 1177432.00 785000 785000 785000 785000 785000
Exports (USD Thousands) 739918.00 579000 579000 579000 579000 579000
Tourist Arrivals (Hundreds) 476.00 815 420 350 600 405

Government Actual Q3 Q4 Q1 Q2 2023
Government Debt to GDP (% of GDP) 51.80 55 55 55 55 55.5
Government Budget (% of GDP) -5.40 -4.3 -4.3 -4.3 -4.3 -4.3
Government Budget Value (MKD Million) 2020.00 -496 -496 -496 -496 -496
Government Spending (MKD Million) 29402.00 30733 30673 31863 30196 32819

Taxes Actual Q3 Q4 Q1 Q2 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 Q3 Q4 Q1 Q2 2023
Industrial Production (%) 8.50 1.5 2 2 2 2
Business Confidence (points) 24.10 21.5 20.2 18.2 18.5 16.5

Consumer Actual Q3 Q4 Q1 Q2 2023
Consumer Spending (MKD Million) 119542.00 125082 121702 133409 122770 137412
Gasoline Prices (USD/Liter) 1.66 1.72 1.78 1.85 1.91 1.91
Consumer Credit (MKD Million) 206819.00 199723 202647 205656 209018 211825
Retail Sales Yoy (%) 1.70 1.2 2.5 2.5 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 Friday, July 1, 2022.