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    Macedonia Index 2006

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    Macedonia Economy - 2006
    https://theodora.com/wfbcurrent/macedonia/macedonia_economy.html
    SOURCE: 2006 CIA WORLD FACTBOOK

      Economy - overview:
      At independence in September 1991, Macedonia was the least developed of the Yugoslav republics, producing a mere 5% of the total federal output of goods and services. The collapse of Yugoslavia ended transfer payments from the central government and eliminated advantages from inclusion in a de facto free trade area. An absence of infrastructure, UN sanctions on the downsized Yugoslavia, one of its largest markets, and a Greek economic embargo over a dispute about the country's constitutional name and flag hindered economic growth until 1996. GDP subsequently rose each year through 2000. However, the leadership's commitment to economic reform, free trade, and regional integration was undermined by the ethnic Albanian insurgency of 2001. The economy shrank 4.5% because of decreased trade, intermittent border closures, increased deficit spending on security needs, and investor uncertainty. Growth barely recovered in 2002 to 0.9%, then rose by 3.4% in 2003, 4.1% in 2004, and 3.7% in 2005. Macedonia has maintained macroeconomic stability with low inflation, but it has lagged the region in attracting foreign investment and job growth has been anemic. Macedonia has an extensive grey market, estimated to be more than 20 percent of GDP, that falls outside official statistics.

      GDP (purchasing power parity):
      $15.55 billion
      note: Macedonia has a large informal sector (2005 est.)

      GDP (official exchange rate):
      $5.255 billion (2005 est.)

      GDP - real growth rate:
      3.7% (2005 est.)

      GDP - per capita (PPP):
      $7,600 (2005 est.)

      GDP - composition by sector:
      agriculture: 9.7%
      industry: 28.8%
      services: 61.5% (2005 est.)

      Labor force:
      855,000 (2004 est.)

      Labor force - by occupation:
      agriculture: NA%
      industry: NA%
      services: NA%

      Unemployment rate:
      38% (2005 est.)

      Population below poverty line:
      29.6% (2004 est.)

      Household income or consumption by percentage share:
      lowest 10%: NA%
      highest 10%: NA%

      Distribution of family income - Gini index:
      28.2 (1998)

      Inflation rate (consumer prices):
      0.5% (2005)

      Investment (gross fixed):
      18% of GDP (2005 est.)

      Budget:
      revenues: $2.105 billion
      expenditures: $2.15 billion; including capital expenditures of $114 million (2005 est.)

      Public debt:
      37.4% of GDP (2005 est.)

      Agriculture - products:
      grapes, wine, tobacco, vegetables; milk, eggs

      Industries:
      food processing, beverages, textiles, chemicals, steel, cement, energy, pharmaceuticals

      Industrial production growth rate:
      6% (2005 est.)

      Electricity - production:
      6.271 billion kWh (2005)

      Electricity - consumption:
      7.933 billion kWh (2005)

      Electricity - exports:
      0 kWh (2005)

      Electricity - imports:
      1.662 billion kWh (2005)

      Oil - production:
      0 bbl/day (2005 est.)

      Oil - consumption:
      23,000 bbl/day (2005 est.)

      Oil - exports:
      NA bbl/day

      Oil - imports:
      NA bbl/day

      Natural gas - production:
      0 cu m (2003 est.)

      Natural gas - consumption:
      0 cu m (2003 est.)

      Current account balance:
      -$303 million (2005 est.)

      Exports:
      $2.047 billion f.o.b. (2005 est.)

      Exports - commodities:
      food, beverages, tobacco; miscellaneous manufactures, iron and steel

      Exports - partners:
      Serbia and Montenegro 27.7%, Germany 17.5%, Italy 12.1%, Greece 8%, Croatia 6.1%, US 4.3% (2004)

      Imports:
      $3.196 billion f.o.b. (2005 est.)

      Imports - commodities:
      machinery and equipment, automobiles, chemicals, fuels, food products

      Imports - partners:
      Greece 14.6%, Germany 12.2%, Serbia and Montenegro 9.8%, Slovenia 8.1%, Bulgaria 7.6%, Italy 6.5%, Turkey 5.7%, Romania 4.4% (2004)

      Reserves of foreign exchange and gold:
      $1.076 billion (2005 est.)

      Debt - external:
      $1.939 billion (2005 est.)

      Economic aid - recipient:
      $250 million (2003 est.)

      Currency (code):
      Macedonian denar (MKD)

      Exchange rates:
      Macedonian denars per US dollar - 48.92 (2005), 49.41 (2004), 54.322 (2003), 64.35 (2002), 68.037 (2001)

      Fiscal year:
      calendar year


      NOTE: The information regarding Macedonia on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Macedonia Economy 2006 information contained here. All suggestions for corrections of any errors about Macedonia Economy 2006 should be addressed to the CIA.

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    https://theodora.com/wfbcurrent/macedonia/macedonia_economy.html

    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)


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