The Gross Domestic Product (GDP) in Macedonia expanded 3.90 percent in the first quarter of 2014 over the previous quarter. source: State Statistical Office of the Republic of Macedonia

GDP Growth Rate in Macedonia averaged 3.26 percent from 2004 until 2014, reaching an all time high of 8.20 percent in the second quarter of 2005 and a record low of -2.40 percent in the second quarter of 2009. This page provides - Macedonia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Macedonia GDP Growth Rate - values, historical data and charts - was last updated on July of 2022.

GDP Growth Rate in Macedonia is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Macedonia to stand at 0.60 in 12 months time. In the long-term, the Macedonia GDP Growth Rate is projected to trend around 0.60 percent in 2021, according to our econometric models.

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Macedonia GDP Growth Rate



Related Last Previous Unit Reference
GDP Growth Rate 3.90 3.10 percent Mar 2014
GDP Annual Growth Rate 2.40 2.30 percent Mar 2022
GDP Constant Prices 180836.00 207766.00 MKD Million Mar 2022
Gross Fixed Capital Formation 144779.08 146077.79 MKD Million Dec 2020

Macedonia GDP Growth Rate
Macedonia has a small, open market economy with one of the lowest GDP per capita in Europe. The main sectors of the Macedonian economy are services (more than 50 percent of GDP) and industry (30 percent of GDP). The textile sector is the main source of foreign trade and accounts for more than 50 percent of total exports. Macedonia also produces iron, steel, wine and vegetables. On the expenditure side, household consumption is the main component of GDP and accounts for 70 percent of its total use, followed by gross fixed capital formation (31 percent) and government expenditure (17 percent). Exports of goods and services account for 48 percent while imports account for 65 percent, subtracting 17 percent of total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
3.90 3.10 8.20 -2.40 2004 - 2014 percent Quarterly