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Macedonia
| Economy Overview |
| At independence in September 1991, Macedonia was the least developed of the Yugoslav republics, producing a mere 5% of the total federal output of goods and services. The collapse of Yugoslavia ended transfer payments from the center and eliminated advantages from inclusion in a de facto free trade area. An absence of infrastructure, UN sanctions on the down-sized Yugoslavia, one of its largest markets, and a Greek economic embargo over a dispute about the country's constitutional name and flag hindered economic growth until 1996. GDP subsequently rose each year through 2000. However, the leadership's commitment to economic reform, free trade, and regional integration was undermined by the ethnic Albanian insurgency of 2001. The economy shrank 4.5% because of decreased trade, intermittent border closures, increased deficit spending on security needs, and investor uncertainty. Growth barely recovered in 2002 to 0.9%, then rose by a moderate 3.4% in 2003, and is estimated at 1.3% in 2004. Unemployment at one-third of the workforce remains a critical economic problem. Much of the extensive grey market activity falls outside official statistics. |
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| Economy Statistics |
| Exports: |
$1.629 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
food, beverages, tobacco; miscellaneous manufactures, iron and steel [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
Serbia and Montenegro 31.4%, Germany 19.9%, Greece 8.9%, Croatia 6.9%, US 4.9% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$2.677 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
machinery and equipment, chemicals, fuels; food products, automobiles [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
Greece 15.4%, Germany 13.1%, Serbia and Montenegro 10.4%, Slovenia 8.6%, Bulgaria 8.1%, Turkey 6%, Romania 4.7% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Economic Chamber of Macedonia |
| Address: |
st. Dimitrie Chupovski, 13
1000 Skopje
Republic of Macedonia |
| Phone: |
+389 2 3116 543 |
| Fax: |
+389 2 3116 210 |
| Website: |
http://www.mchamber.org.mk/ |
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