Macedonia’s GDP expanded 3.1 percent year-on-year in the second quarter of 2019, slowing from a 4.1 percent advance in the previous period. Net foreign demand contributed negatively to growth, as exports rose 10.6 percent (vs 15.6 percent in Q1) while imports jumped at a faster 10.9 percent (vs 14.4 percent). Meantime, household consumption (3.1 percent vs 2.6 percent); government expenditure (1.2 percent vs 0.1 percent) and fixed investment (11.1 percent vs 9.9 percent) increased faster. GDP Annual Growth Rate in Macedonia averaged 2.74 percent from 2001 until 2019, reaching an all time high of 10.70 percent in the second quarter of 2005 and a record low of -12.70 percent in the third quarter of 2001.

GDP Annual Growth Rate in Macedonia is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Macedonia to stand at 2.80 in 12 months time. In the long-term, the Macedonia GDP Annual Growth Rate is projected to trend around 2.40 percent in 2020, according to our econometric models.

Macedonia GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-07 11:20 AM GDP Growth Rate YoY Q3 3% 3% 1.5%
2019-03-08 11:00 AM GDP Growth Rate YoY Q4 3.7% 3% 1.8%
2019-06-07 10:00 AM GDP Growth Rate YoY Q1 4.1% 3.7% 2.2%
2019-09-06 10:00 AM GDP Growth Rate YoY Q2 3.1% 4.1% 3.5%
2019-12-06 11:00 AM GDP Growth Rate YoY Q3 3.1% 2.2%


Macedonia GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 3.10 4.10 10.70 -12.70 percent [+]
GDP 12.67 11.28 12.67 2.44 USD Billion [+]
GDP Constant Prices 165968.00 156355.00 179644.00 59063.00 MKD Million [+]
Gross Fixed Capital Formation 135317.85 143495.57 143495.57 34716.00 MKD Million [+]
GDP per capita 5394.30 5256.70 5394.30 3057.00 USD [+]
GDP per capita PPP 13483.42 13139.54 13483.42 7641.16 USD [+]


Macedonia GDP Annual Growth Rate

On the expenditure side, household consumption is the main component of GDP and accounts for 70 percent of its total use, followed by gross fixed capital formation (31 percent) and government expenditure (17 percent). Exports of goods and services account for 48 percent while imports account for 65 percent, subtracting 17 percent of total GDP. This page provides - Macedonia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Macedonia GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.10 4.10 10.70 -12.70 2001 - 2019 percent Quarterly




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China 6.20 Jun/19
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