Markets Actual Q2 Q3 Q4 Q1 2022
Currency 51.47 50.8 51.09 51.37 51.66 52.24
Stock Market (points) 5286.07 5190 5083 4979 4876 4670

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Annual Growth Rate (%) -1.90 11.5 6.8 5.3 5.3 2.7
Unemployment Rate (%) 16.00 19.5 19.5 19 18.6 17
Inflation Rate (%) 3.00 1.9 1.5 1.6 1.3 2.2
Interest Rate (%) 1.25 1.25 1.25 1.25 1.5 1.75
Balance of Trade (USD Thousands) -327720.00 -221000 -221000 -222000 -222000 -222000
Current Account to GDP (% of GDP) -3.30 -3.3 -3.3 -3.3 -2.7 -2.7
Government Debt to GDP (% of GDP) 40.70 53.7 53.7 53.7 55 55
Government Budget (% of GDP) -2.00 -5.2 -5.2 -5.2 -4.3 -4.3
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 2022
GDP Annual Growth Rate (%) -1.90 11.5 6.8 5.3 5.3 2.7
GDP (USD Billion) 12.69 13.79 13.79 13.79 14.82 14.82
GDP Constant Prices (MKD Million) 162705.00 161375 167007 193268 180691 185569
Gross Fixed Capital Formation (MKD Million) 146077.79 142280 162877 145580 153820 157973
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 Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 16.00 19.5 19.5 19 18.6 17
Wages (MKD/Month) 42097.00 40490 41170 42025 42025 42025
Population (Million) 2.08 2.09 2.09 2.11 2.11 2.12
Minimum Wages (MKD/Month) 14500.00 14900 14900 16100 16100 16100

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 3.00 1.9 1.5 1.6 1.3 2.2
Consumer Price Index CPI (points) 117.03 118 117 118 118 120
Inflation Rate Mom (%) 0.70 0.2 0.2 0.2 0.2 0.2
Food Inflation (%) 1.90 3.5 2.9 2.5 2.3 2
Core Inflation Rate (%) 2.10 1.5 1.5 1.7 1.7 1.7
Producer Prices (points) 112.60 111 112 111 114 113
Producer Prices Change (%) 7.70 6.5 5.5 4.5 2.2 1.8

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 1.25 1.25 1.25 1.25 1.5 1.75
Deposit Interest Rate (%) 0.15 0.15 0.15 0.15 0.4 0.65
Lending Rate (%) 1.75 1.75 1.75 1.75 2 2.25

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (USD Thousands) -327720.00 -221000 -221000 -222000 -222000 -222000
Current Account to GDP (% of GDP) -3.30 -3.3 -3.3 -3.3 -2.7 -2.7
Imports (USD Thousands) 1064550.00 785000 785000 785000 785000 785000
Exports (USD Thousands) 736830.00 564000 564000 579000 579000 579000

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (% of GDP) 40.70 53.7 53.7 53.7 55 55
Government Budget (% of GDP) -2.00 -5.2 -5.2 -5.2 -4.3 -4.3
Government Budget Value (MKD Million) 35.00 -496 -496 -496 -496 -496
Government Spending (MKD Million) 27247.00 26199 31037 28342 29271 30062

Taxes Actual Q2 Q3 Q4 Q1 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 Q2 Q3 Q4 Q1 2022
Industrial Production (%) 46.10 7.6 5.8 3.1 1.8 2
Business Confidence (points) 28.90 26.2 27 27.4 30 28.2

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Spending (MKD Million) 106547.00 101925 117841 120531 119238 122457
Gasoline Prices (USD/Liter) 1.35 1.14 1.08 1.03 0.98 0.93
Consumer Credit (MKD Million) 189907.00 170094 198898 167545 195662 200945
Retail Sales Yoy (%) 23.00 7 4.5 5.7 1 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.