Macedonia GDP Growth Rate
The Gross Domestic Product (GDP) in Macedonia expanded 3.20 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Macedonia averaged 3.26 Percent from 2004 until 2013, 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. GDP Growth Rate in Macedonia is reported by the State Statistical Office of the Republic of Macedonia.
||2004 - 2013
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% of GDP) and industry (30% of GDP). The textile sector is the main source of foreign trade and accounts for more than 50% of total exports. Macedonia also produces iron, steel, wine and vegetables. Corruption and an ineffective legal system are significant restraints for economic development. This page provides - Macedonia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.