ECON FACTBOOK

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Economy of Macedonia

Population: 2.1 million in 2013¹

GDP: $10.2 billion in 2013²

GDP per capita: $4,838 nominal³ ($11,802 PPP⁴) in 2013

GDP growth rate: 3.1% in 2013⁵

Industries

GDP by Industry 2012⁶

Industry sector	Value added ($ millions) 2012	Percent of total
Other activities	3,156	34.7%
Wholesale, retail trade, restaurants and hotels	1,525	16.7%
Manufacturing	1,400	15.4%
Agriculture, hunting, forestry, fishing	992	10.9%
Transport, storage and communication	788	8.7%
Construction	677	7.4%
Mining and utilities	568	6.2%
Total value added	9,106	100%

Employment

Unemployment rate: 29.0% in 2013⁷

Employment by Industry 2013⁸

Employment sector	Employees (thousands) 2013	Percent of total
Manufacturing	132	19.4%
Agriculture, forestry and fishing	127	18.7%
Wholesale trade, retail trade and repair of motor vehicles	92	13.5%
Construction	47	6.9%
Public administration and defence	45	6.6%
Education	41	6.1%
Human health and social work	38	5.6%
Transportation and storage	38	5.5%
Accommodation and food service	24	3.5%
Professional, scientific and technical	14	2.0%
Administrative and support service	12	1.7%
Information and communication	11	1.6%
Electricity, gas, steam and air conditioning	11	1.6%
Other service	10	1.5%
Arts, entertainment and recreation	10	1.4%
Water supply, sewerage and waste management	10	1.5%
Finance and insurance	9	1.4%
Mining and quarrying	7	1.0%
Extraterritorial organizations and bodies	1	0.1%
Activities of households as employers	1	0.2%
Real estate	1	0.1%
Total employment	679	100%

Corporations

Top 10 Corporations by Revenue 2013⁹

N/A

Households

Household Wealth: $19 billion (186% of GDP) in 2014¹⁰

Household Wealth per Adult: $11,871 in 2014¹⁰

Gini Coefficient: .436 in 2013¹¹

Government

Central Government

Central Government Revenue: $3.0 billion (29% of GDP) in 2013¹²

Central Government Expenditure: $3.4 billion (33% of GDP) in 2013¹²

Central Government Budget Balance: -$0.4 billion (-4% of GDP) in 2013¹²

Central Government Public Debt: $3.8 billion (37% of GDP) in Q3 2014* ¹³

Central Government 7 Year Bond Interest Rate: 4.25% in Jul 2014¹⁴

* Public debt calculated using the exchange rate 0.876 EUR = 1 USD

Government Funds

N/A

Tax Structure

Individual Income Tax Rates and Thresholds in 2013¹⁵

10%: $0+

Corporate Tax Rate: 10% in 2014¹⁶

Monetary Policy

Money Supply (M1): $1.6 billion (16% of GDP) in Dec 2014* ¹⁷

Benchmark Interest Rate: 3.25% in Feb 2015¹⁸

Total Reserves: $2.7 billion (26% of GDP) in 2013¹⁹

Exchange Rate: 53.6 Macedonian Denars = 1 U.S. Dollar on Feb 17, 2015²⁰

Inflation: 2.8% in 2013²¹

* Money supply calculated using the exchange rate 53.6 MKD = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets 2013²²

N/A (data not available at Relbanks.com)

International Accounts

Exports: $4.3 billion (42% of GDP) in 2013²³

Imports: $6.6 billion (65% of GDP) in 2013²³

Trade Balance: -$2.3 billion (-23% of GDP) in 2013²³

Foreign Direct Investment Inflow: $0.4 billion (4% of GDP) in 2013²⁴

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: $0.1 billion (1% of GDP) in 2012²⁵

Foreign Aid Outflow: N/A

References