Macedonia GDP Growth Rate

The Gross Domestic Product (GDP) in Macedonia expanded 3.20 percent in the fourth quarter of 2013 over the same quarter, previous year. GDP Growth Rate in Macedonia is reported by the State Statistical Office of the Republic of Macedonia. 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. 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. 2014-04-21

Actual Previous Highest Lowest Forecast Dates Unit Frequency
3.20 3.00 8.20 -2.40 3.86 | 2014/03 2004 - 2013 Percent Quarterly

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Macedonia GDP Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP 9.66 2012-12-31 10.44 10.44 2.30 9.26 2013-12-31 USD Billion [+]
GDP Constant Prices 127842.00 2013-11-15 123246.00 127842.00 59063.00 124322.44 2014-03-31 MKD Million [+]
GDP Growth Rate 3.20 2013-12-31 3.00 8.20 -2.40 3.86 2014-03-31 Percent [+]
GDP Annual Growth Rate 3.20 2013-12-31 3.00 8.20 -2.40 3.86 2014-03-31 Percent [+]
Gross Fixed Capital Formation 105443.00 2012-06-29 94698.00 105443.00 34716.00 106338.42 2012-12-31 MKD Million [+]
GDP per capita 3478.13 2012-12-31 3490.22 3490.22 2432.22 3494.05 2013-12-31 USD [+]
GDP per capita PPP 9323.11 2012-12-31 9355.53 9355.53 6519.56 9365.80 2013-12-31 USD [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


RELATED NEWS

Macedonia Inflation Rate at 0.20 Percent  
The inflation rate in Macedonia was recorded at 0.20 percent in March of 2014. Inflation Rate in Macedonia is reported by the National Bank of the Republic of Macedonia.
Macedonia Balance of Trade at -181811.00 USD Thousands  
Macedonia recorded a trade deficit of 181811 USD Thousands in February of 2014. Balance of Trade in Macedonia is reported by the State Statistical Office of the Republic of Macedonia.
Macedonia Current Account at -22.90 USD Million  
Macedonia recorded a Current Account deficit of 22.90 USD Million in January of 2014. Current Account in Macedonia is reported by the National Bank of the Republic of Macedonia.
Macedonia Changes in Inventories at 29519.00 MKD Million  
Changes in Inventories in Macedonia increased to 29519 MKD Million in 2012 from 25850 MKD Million in 2011. Changes in Inventories in Macedonia is reported by the State Statistical Office of the Republic of Macedonia.
Macedonia Consumer Price Index (CPI) at 100.56 Index Points  
Consumer Price Index (CPI) in Macedonia decreased to 100.56 Index Points in March of 2014 from 100.73 Index Points in February of 2014. Consumer Price Index (CPI) in Macedonia is reported by the State Statistical Office of the Republic of Macedonia.
Macedonia Consumer Spending at 90372.00 MKD Million  
Consumer Spending in Macedonia increased to 90372 MKD Million in the fourth quarter of 2013 from 89925 MKD Million in the third quarter of 2013. Consumer Spending in Macedonia is reported by the State Statistical Office of the Republic of Macedonia.
Macedonia Employed Persons at 685479.00  
The number of employed persons in Macedonia increased to 685479 in the fourth quarter of 2013 from 682448 in the third quarter of 2013. Employed Persons in Macedonia is reported by the State Statistical Office of the Republic of Macedonia.
Macedonia Exports at 376474.00 USD Thousands  
Exports in Macedonia increased to 376474 USD Thousands in February of 2014 from 320416 USD Thousands in January of 2014. Exports in Macedonia is reported by the State Statistical Office of the Republic of Macedonia.
Macedonia GDP Constant Prices at 127842.00 MKD Million  
GDP Constant Prices in Macedonia increased to 127842 MKD Million in the fourth quarter of 2013 from 123246 MKD Million in the third quarter of 2013. GDP Constant Prices in Macedonia is reported by the State Statistical Office of the Republic of Macedonia.
Macedonia GDP Deflator at 100.13 Percent  
GDP Deflator in Macedonia decreased to 100.13 percent in 2012 from 103.10 percent in 2011. GDP Deflator in Macedonia is reported by the State Statistical Office of the Republic of Macedonia.
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