Markets Actual Q1 Q2 Q3 Q4 2022
Currency 50.81 51.08 51.31 51.54 51.77 52.23
Stock Market (points) 4849.93 4774 4694 4614 4536 4380

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Annual Growth Rate (%) -3.30 -3 11.5 6.8 5.3 2.7
Unemployment Rate (%) 16.50 22.3 21 21 19 17
Inflation Rate (%) 2.30 1 1.3 1.3 1.2 1.6
Interest Rate (%) 1.50 1.5 1.5 1.5 1.5 2.5
Balance of Trade (USD Thousands) -136682.00 -221000 -221000 -221000 -222000 -222000
Current Account to GDP (%) -3.30 -4 -4 -4 -4 -3.7
Government Debt to GDP (%) 40.70 45 45 45 45 47
Government Budget (% of GDP) -2.00 -5.2 -5.2 -5.2 -5.2 -3.8
Corporate Tax Rate (%) 10.00 10 10 10 10 10
Personal Income Tax Rate (%) 10.00 10 10 10 10 10

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Annual Growth Rate (%) -3.30 -3 11.5 6.8 5.3 2.7
GDP (USD Billion) 12.69 12.3 12.3 12.3 12.3 12.9
GDP Constant Prices (MKD Million) 171596.00 178058 160713 167007 193268 187495
Gross Fixed Capital Formation (MKD Million) 146077.79 138774 141695 162877 145580 146129
GDP per capita (USD) 5634.38 5500 5500 5500 5500 5700
GDP per capita PPP (USD) 16506.10 16400 16400 16400 16400 16600

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 16.50 22.3 21 21 19 17
Wages (MKD/Month) 41654.00 40490 41170 40727 42025 42025
Population (Million) 2.08 2.09 2.09 2.09 2.11 2.12
Minimum Wages (MKD/Month) 12165.00 14900 14900 14900 16100 16100

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 2.30 1 1.3 1.3 1.2 1.6
Consumer Price Index CPI (points) 115.87 115 115 117 120 117
Inflation Rate Mom (%) 0.40 0.2 0.2 0.2 0.2 0.2
Food Inflation (%) 3.20 4.2 3.5 2.9 2.5 2
Core Inflation Rate (%) 2.20 1.5 1.5 1.5 1.7 1.7
Producer Prices (points) 105.80 104 106 108 108 110
Producer Prices Change (%) 0.40 -0.1 1.9 2 2.2 1.8

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 1.50 1.5 1.5 1.5 1.5 2.5
Deposit Interest Rate (%) 0.15 0.15 0.15 0.15 -0.6 0.15
Lending Rate (%) 2.00 2 2 2 2 2

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (USD Thousands) -136682.00 -221000 -221000 -221000 -222000 -222000
Current Account to GDP (%) -3.30 -4 -4 -4 -4 -3.7
Imports (USD Thousands) 821462.00 785000 785000 785000 785000 785000
Exports (USD Thousands) 684781.00 564000 564000 564000 579000 579000

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 40.70 45 45 45 45 47
Government Budget (% of GDP) -2.00 -5.2 -5.2 -5.2 -5.2 -3.8
Government Budget Value (MKD Million) -5230.00 -496 -496 -496 -496 -496
Government Spending (MKD Million) 27798.00 26726 26091 31037 28342 28143

Taxes Actual Q1 Q2 Q3 Q4 2022
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 Q1 Q2 Q3 Q4 2022
Industrial Production (%) -4.00 3.2 5.8 5.8 6.5 6.5
Business Confidence (points) 25.90 25 31 32 33 30

Consumer Actual Q1 Q2 Q3 Q4 2022
Consumer Spending (MKD Million) 113236.00 112025 101507 117841 120531 117962
Consumer Credit (MKD Million) 185088.00 163413 169395 198898 167545 172074
Gasoline Prices (USD/Liter) 1.20 1.09 0.99 0.94 1.03 1.03
Retail Sales Yoy (%) -13.90 -1.5 4.5 4.5 5.7 2.5


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.