Markets Actual Q2 Q3 Q4 Q1 2021
Currency 54.27 54.51 54.76 55.01 55.25 55.74
Stock Market (points) 4198.39 4127 4058 3989 3922 3787

Overview Actual Q2 Q3 Q4 Q1 2021
GDP Annual Growth Rate (%) 3.40 -4 -2.8 1.5 2.2 2.4
Unemployment Rate (%) 16.20 19.3 20.8 21.5 22.3 19
Inflation Rate (%) -0.10 1.5 1.9 2.2 2.2 2.2
Interest Rate (%) 1.50 1.25 1 1 1 1.25
Balance of Trade (USD Thousands) -196237.00 -185000 -185000 -221000 -221000 -222000
Current Account to GDP (%) -0.30 -1.7 -1.7 -1.7 -1.9 -1.9
Government Debt to GDP (%) 40.70 43.1 43.1 43.1 45 45
Government Budget (% of GDP) -1.80 -4.1 -4.1 -4.1 -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 Q2 Q3 Q4 Q1 2021
GDP Annual Growth Rate (%) 3.40 -4 -2.8 1.5 2.2 2.4
GDP (USD Billion) 13.20 14 14 14 16 16
GDP Constant Prices (MKD Million) 183971.00 161862 170516 186731 188018 191212
Gross Fixed Capital Formation (MKD Million) 130242.22 127637 128419 132196 133108 135369
GDP per capita (USD) 5394.30 5700 5700 5700 6000 6000
GDP per capita PPP (USD) 13483.42 14500 14500 14500 13435 15000

Labour Actual Q2 Q3 Q4 Q1 2021
Unemployment Rate (%) 16.20 19.3 20.8 21.5 22.3 19
Wages (MKD/Month) 39437.00 38788 38969 41238 42431 42883
Population (Million) 2.08 2.09 2.09 2.1 2.09 2.11
Minimum Wages (MKD/Month) 12165.00 14900 14900 14900 14900 16100

Prices Actual Q2 Q3 Q4 Q1 2021
Inflation Rate (%) -0.10 1.5 1.9 2.2 2.2 2.2
Consumer Price Index CPI (points) 113.79 115 115 116 116 118
Inflation Rate Mom (%) 0.10 0.2 0.2 0.2 0.2 0.2
Food Inflation (%) 1.30 1.6 1.6 1.8 1.8 1.8
Core Inflation Rate (%) 1.80 1.4 1.4 1.5 1.5 1.7
Producer Prices (points) 104.60 107 109 105 108 107
Producer Prices Change (%) 0.30 2.9 2.2 1.6 1.6 2

Money Actual Q2 Q3 Q4 Q1 2021
Interest Rate (%) 1.50 1.25 1 1 1 1.25
Deposit Interest Rate (%) 0.15 0.15 -0.35 -0.6 -0.6 -0.6
Lending Rate (%) 2.00 2 1.75 1.75 1.75 1.75

Trade Actual Q2 Q3 Q4 Q1 2021
Balance of Trade (USD Thousands) -196237.00 -185000 -185000 -221000 -221000 -222000
Current Account to GDP (%) -0.30 -1.7 -1.7 -1.7 -1.9 -1.9
Imports (USD Thousands) 674870.00 768000 768000 785000 785000 785000
Exports (USD Thousands) 478632.00 583000 583000 564000 564000 579000

Government Actual Q2 Q3 Q4 Q1 2021
Government Debt to GDP (%) 40.70 43.1 43.1 43.1 45 45
Government Budget (% of GDP) -1.80 -4.1 -4.1 -4.1 -5.2 -5.2
Government Budget Value (MKD Million) -4716.00 -493 -493 -496 -496 -496
Government Spending (MKD Million) 28133.00 25748 24742 28555 28752 29240

Taxes Actual Q2 Q3 Q4 Q1 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 Q2 Q3 Q4 Q1 2021
Industrial Production (%) -33.50 -12.8 -9 -1.8 3.2 6.5
Business Confidence (points) 27.80 -14 -11 -10 -7 5

Consumer Actual Q2 Q3 Q4 Q1 2021
Consumer Spending (MKD Million) 117921.00 112261 113204 119690 120515 122562
Consumer Credit (MKD Million) 174429.00 160684 165183 174594 178232 178784
Gasoline Prices (USD/Liter) 1.03 0.83 0.79 0.75 0.71 0.67
Retail Sales Yoy (%) -17.60 -14 -7 -1.5 1 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.