Macedonia's CA gap stands at 0.6% of GDP in January 2013

By bne IntelliNews April 1, 2013

The CA balance was a deficit of EUR 47.2mn or 0.6% of projected full-year GDP in January, according to data of the central bank. The January gap is 6.9% lower on the year. The annualised (Feb/12-Jan/13) CA balance is a deficit of EUR 287.8mn or 3.5% of GDP. The y/y improvement in January reflects a narrower merchandise trade deficit and a reversal to a net inflow in the services account. The merchandise trade deficit decreased by 10.1% y/y to EUR 129.9mn in January, as exports expanded by 9.1% y/y to EUR 229.3mn and imports edged up by 1.3% y/y to EUR 359.2mn. Current transfers dropped by 13.4% y/y to EUR 98.4mn in the first month of this year.

Balance of payments, EURmn    
  Jan-12 Jan-13
CURRENT ACCOUNT -51 -47
GOODS -145 -130
Exports, f.o.b. 210 229
Imports, f.o.b.  -355 -359
SERVICES -6 5
INCOME -14 -20
CURRENT TRANSFERS 114 98
CAPITAL ACCOUNT 0 1
FINANCIAL  ACCOUNT 26 139
Direct investment 38 29
Portfolio investment -1 -132
Other investment -11 242
ERRORS AND OMISSIONS 3 -2
OVERALL BALANCE -21 91
Source: Central bank    

Related Articles

Macedonian president to veto law on making Albanian second official language

Macedonian President Gjorge Ivanov said on January 17 he veto the law that extends the use of Albanian language in the country as he thinks it is unconstitutional. The draft law was ... more

Freedom House keeps “partly free” status for Macedonia despite new government’s efforts

Macedonia was rated only “partly free” in the latest report from international watchdog Freedom House, the same almost all of the six Western Balkan countries, despite efforts by the ... more

Macedonia issues €500mn 7-year Eurobond with historic low interest rate

Macedonia issued on January 11 a seven-year €500mn Eurobond with an annual interest rate of 2.75%, the finance ministry said. This is the sixth Eurobond issue placed so far by Macedonia’s ... more

Dismiss