Macedonia | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 3.90 0.7 0.6 0.5 0.4 0.6 percent [+]
Unemployment Rate 23.10 22.6 22.2 22 21.7 16.5 percent [+]
Inflation Rate 0.60 0.8 1.2 1.5 1.9 2.4 percent [+]
Interest Rate 3.25 3 2.75 2.75 2.5 1.5 percent [+]
Balance of Trade -142509.00 -161659 -168329 -173000 -172475 -160000 USD Thousands [+]
Government Debt to GDP 40.90 39.79 41.73 43.67 43.75 43.11 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 57.12 58.06 58.64 60.36 59.79 68.99 [+]
Stock Market 2208.59 2230 2210 2140 2160 1800 points [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 3.90 0.7 0.6 0.5 0.4 0.6 percent [+]
GDP Annual Growth Rate 2.40 2.6 2.5 2.5 2.6 2.4 percent [+]
GDP 10.09 10.63 10.51 10.87 10.51 13.65 USD Billion [+]
GDP Constant Prices 160309.00 161822 169706 172074 168436 193117 MKD Million [+]
Gross Fixed Capital Formation 129095.00 134359 136169 137980 139987 162427 MKD Million [+]
GDP per capita 5093.84 5134 5190 5245 5278 5654 USD [+]
GDP per capita PPP 12724.68 12824 12964 13103 13186 14125 USD [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 23.10 22.6 22.2 22 21.7 16.5 percent [+]
Employed Persons 731107.00 736354 742232 747113 750135 794476 [+]
Unemployed Persons 219148.00 211030 207328 203721 200210 167872 [+]
Wages 32869.00 33118 33107 33161 33162 33153 MKD/Month [+]
Population 2.07 2.06 2.06 2.06 2.06 2.06 Million [+]
Part Time Employment 40.90 34.02 34.5 34.67 34.67 34.79 Thousand [+]
Minimum Wages 231.40 230 234 235 234 234 EUR/Month [+]
Job Vacancies 6200.00 6227 6225 6175 6257 6216 [+]
Labor Force Participation Rate 56.59 56.35 56.39 56.41 56.34 56.08 percent [+]
Full Time Employment 682.30 693 695 698 703 743 Thousand [+]
Employment Rate 43.54 43.39 43.51 43.59 43.51 43.53 percent [+]
Wage Growth 1.90 0.77 1.29 1.67 1.53 1.37 percent [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 0.60 0.8 1.2 1.5 1.9 2.4 percent [+]
Consumer Price Index CPI 109.39 110 110 110 110 110 Index Points [+]
GDP Deflator 101.90 102 102 102 102 102 percent [+]
Producer Prices 106.00 109 111 113 115 129 Index Points [+]
Producer Prices Change 4.50 6.9 7.4 4.9 4.2 2.2 percent [+]
Inflation Rate Mom 0.50 0.16 0.17 0.17 0.17 0.17 percent [+]
Food Inflation -2.20 -2.54 -2.58 -2.61 -2.61 -2.62 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 3.25 3 2.75 2.75 2.5 1.5 percent [+]
Banks Balance Sheet 538339.81 552374 559972 567575 575177 658741 NC Million [+]
Deposit Interest Rate 0.25 0.25 0.25 0.25 0.25 0.25 percent [+]
Money Supply M0 26894.20 26900 27036 27073 27040 27040 MKD Million [+]
Money Supply M1 105599.80 111709 114457 117267 119989 147712 MKD Million [+]
Money Supply M2 261675.50 269762 273921 278182 282169 314447 MKD Million [+]
Lending Rate 4.50 4.46 4.48 4.47 4.48 4.47 percent [+]
Central Bank Balance Sheet 185693.98 185742 185568 185579 185561 185560 NC Million [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade -142509.00 -161659 -168329 -173000 -172475 -160000 USD Thousands [+]
Exports 401668.00 360757 368730 369152 367431 367836 USD Thousands [+]
Imports 544177.00 507916 516109 514943 514882 514834 USD Thousands [+]
Current Account -1.10 -28.86 -30 -29.95 -29.92 -29.92 USD Million [+]
Current Account to GDP -1.40 -2.96 -3.01 -3.06 -3.09 -1.34 percent [+]
Capital Flows 3.60 -25.55 -26.57 -26.82 -26.87 -26.88 USD Million [+]
Foreign Direct Investment 14.05 5.82 7.25 7.74 7.32 7.42 EUR Million [+]
Gold Reserves 6.88 6.88 6.88 6.85 6.86 6.86 Tonnes [+]
Terrorism Index 1.86 2.27 2.33 2.4 2.37 2.63 [+]
External Debt 7503.90 7550 7815 7892 8069 9483 EUR Million [+]
Tourist Arrivals 369.00 784 648 601 670 651 Hundreds Person [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 40.90 39.79 41.73 43.67 43.75 43.11 percent [+]
Government Budget -3.50 -3.67 -3.39 -3.1 -3.2 -3.52 percent of GDP [+]
Government Budget Value -1535.00 -1517 -1508 -1455 -1491 -1480 MKD Million [+]
Government Spending 25368.00 24408 24185 25198 24745 25519 MKD Million [+]
Government Revenues 13310.00 13910 13988 13984 13980 13981 MKD Million [+]
Government Debt 3851.50 4001 4075 4148 4221 4983 EUR Million [+]
Fiscal Expenditure 14845.00 15671 15518 15538 15542 15544 MKD Million [+]
Military Expenditure 128.30 168 169 169 170 168 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Industrial Production -1.30 0.41 0.63 1.22 1.47 1.94 percent [+]
Manufacturing Production -4.40 0.31 1.44 1.9 2.14 2.39 percent [+]
Changes in Inventories 44099.00 42882 44424 45965 45830 50875 MKD Million [+]
Corruption Index 37.00 38 37 36 35 34 Points [+]
Corruption Rank 90.00 84 92 99 99 101 [+]
Competitiveness Index 4.23 4.28 4.28 4.28 4.33 4.49 Points [+]
Competitiveness Rank 68.00 62 62 62 73 72 [+]
Business Confidence 25.10 21.5 24.56 17.2 24.55 5.5 [+]
Ease of Doing Business 10.00 14 13 12 12 11 [+]
Steel Production 21.20 17.57 17.54 17.61 17.6 17.6 Thousand Tonnes [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Spending 102555.00 105988 102524 104175 99598 104582 MKD Million [+]
Gasoline Prices 1.13 1.11 1.12 1.12 1.12 1.12 USD/Liter [+]
Consumer Credit 129723.00 132752 134438 136035 137547 149698 MKD Million [+]
Retail Sales Yoy -5.60 -1.24 -2.44 -1.76 -1.99 -1.97 percent [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Construction Output -24.10 11.47 15.34 16.98 17.65 18.13 percent [+]
Housing Index 92.70 92.32 92.27 92.14 92.19 92.16 Index Points [+]
Home Ownership Rate 90.60 88.57 88.75 88.93 88.95 89.06 percent [+]
Building Permits 363.00 288 288 288 288 288 [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 10.00 9.99 9.99 9.99 10 10 percent [+]
Personal Income Tax Rate 10.00 10 10 10 10 10 percent [+]
Sales Tax Rate 18.00 18 18 18 18 18 percent [+]





Economic Forecasts for Macedonia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Macedonia economy. 4/24/2017