Macedonia’s foreign trade deficit narrows 6.4% y/y in Jan-Nov 2013.

By bne IntelliNews January 8, 2014

Macedonia’s foreign trade gap narrowed 6.4% y/y to USD 2.12bn in the first 11 months of 2013, as exports grew faster than imports, the statistics office said. Exports increased by 5.6% y/y to USD 3.86bn in Jan-Nov 2013, whereas imports edged up 1% y/y to USD 5.98bn. We estimate that the 11-month deficit is equal to 20.8% of projected 2013 GDP.

In November alone, the deficit shrank by 13% y/y to USD 206.7mn, as exports rose by 10.2% y/y to USD 384.9mn and imports inched up 0.8% y/y to USD 591.6mn.

The EU-28 countries bought 72.6% of Macedonia’s exports and forwarded 62.4% of its imports in the first 11 months of 2013. Exports to the Union grew by 17.8% y/y to USD 2.80bn, and imports rose by 3.8% y/y to USD 3.73bn.

In Jan-Nov 2013, top export products were: supported catalysts with precious metal, or precious metal compounds as the active substance; ferro-nickel; iron and steel products (flat-rolled products); clothes; and petroleum oil preparations. The main imported goods included petroleum oil and oils obtained from bituminous minerals (other than crude); platinum and platinum alloys; electricity; and passenger motor vehicles.

Macedonia's main export partners were Germany (accounting for 35.4% of Jan-Nov exports), Bulgaria (7.7%) and Kosovo (6.6%). Key countries in terms of imports were the UK (11%), Greece (10.5%) and Germany (10.4%).

Related Articles

ArcelorMittal proposes to divest assets in Czech Republic, Macedonia and Romania

International steel and mining company ArcelorMittal said on April 13 it has proposed a divestment package to the European Commission in a bid to obtain approval for its planned acquisition of ... more

Macedonian MPs debate no-confidence motion against government

Macedonian MPs started debating a no-confidence motion filed by the opposition VMRO-DPMNE party against the government on April 11. The opposition party accused the government of increasing crime and ... more

Bulgaria’s Borissov appeals to Western Balkan leaders to preserve peace

Boyko Borissov, prime minister of the current EU Council chair Bulgaria, called on April 10 on the leaders of the Western Balkan countries to preserve peace and ... more

Dismiss