Markets Actual Q4 Q1 Q2 Q3 2021
Currency 52.23 52.75 52.98 53.22 53.46 53.93
Stock Market (points) 4397.15 4320 4247 4176 4105 3964

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Annual Growth Rate (%) -12.70 -5 -3 11.5 6.8 5.3
Unemployment Rate (%) 16.70 21.5 22.3 21 21 19
Inflation Rate (%) 1.90 0.8 1 1.3 1.3 1.2
Interest Rate (%) 1.50 1 1 1 1 1
Balance of Trade (USD Thousands) -120871.00 -221000 -221000 -221000 -221000 -222000
Current Account to GDP (%) -0.30 -3.2 -4 -4 -4 -4
Government Debt to GDP (%) 40.70 43.1 45 45 45 45
Government Budget (% of GDP) -1.80 -4.1 -5.2 -5.2 -5.2 -5.2
Corporate Tax Rate (%) 10.00 10 10 10 10 10
Personal Income Tax Rate (%) 10.00 10 10 10 10 10

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Annual Growth Rate (%) -12.70 -5 -3 11.5 6.8 5.3
GDP (USD Billion) 12.69 11.9 12.3 12.3 12.3 12.3
GDP Constant Prices (MKD Million) 149782.00 188738 178058 160713 167007 193268
Gross Fixed Capital Formation (MKD Million) 130242.22 142168 123730 126335 145220 145580
GDP per capita (USD) 5634.38 5350 5500 5500 5500 5500
GDP per capita PPP (USD) 16506.10 16000 16400 16400 16400 16400

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 16.70 21.5 22.3 21 21 19
Wages (MKD/Month) 40640.00 40490 41170 40727 39828 42025
Population (Million) 2.08 2.1 2.09 2.09 2.09 2.11
Minimum Wages (MKD/Month) 12165.00 14900 14900 14900 14900 16100

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) 1.90 0.8 1 1.3 1.3 1.2
Consumer Price Index CPI (points) 115.57 114 115 117 117 116
Inflation Rate Mom (%) -0.20 0.2 0.2 0.2 0.2 0.2
Food Inflation (%) 3.10 1.8 1.8 1.8 1.8 1.8
Core Inflation Rate (%) 1.80 1.5 1.5 1.5 1.5 1.7
Producer Prices (points) 104.10 105 106 106 106 107
Producer Prices Change (%) 0.10 1.6 1.6 1.6 1.6 2

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 1.50 1 1 1 1 1
Deposit Interest Rate (%) 0.15 -0.6 -0.35 -0.35 -0.35 -0.6
Lending Rate (%) 2.00 2 1.5 1.5 1.5 2

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (USD Thousands) -120871.00 -221000 -221000 -221000 -221000 -222000
Current Account to GDP (%) -0.30 -3.2 -4 -4 -4 -4
Imports (USD Thousands) 713264.00 785000 785000 785000 785000 785000
Exports (USD Thousands) 592393.00 564000 564000 564000 564000 579000

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 40.70 43.1 45 45 45 45
Government Budget (% of GDP) -1.80 -4.1 -5.2 -5.2 -5.2 -5.2
Government Budget Value (MKD Million) -2848.00 -496 -496 -496 -496 -496
Government Spending (MKD Million) 27836.00 27678 26726 26091 31037 28342

Taxes Actual Q4 Q1 Q2 Q3 2021
Corporate Tax Rate (%) 10.00 10 10 10 10 10
Personal Income Tax Rate (%) 10.00 10 10 10 10 10
Sales Tax Rate (%) 18.00 18 18 18 18 18

Business Actual Q4 Q1 Q2 Q3 2021
Industrial Production (%) -9.10 -1.8 3.2 5.8 5.8 6.5
Business Confidence (points) 23.20 26 30 31 32 33

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Spending (MKD Million) 105687.00 117706 112025 101507 117841 120531
Consumer Credit (MKD Million) 181176.00 163618 163413 169395 198898 167545
Gasoline Prices (USD/Liter) 1.15 1.09 0.99 0.94 0.9 1.03
Retail Sales Yoy (%) -15.80 -1.5 -1.5 4.5 4.5 5.7


This page has 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.