Macedonia's foreign trade deficit widens 90.6% y/y in September 2011.

By bne IntelliNews November 7, 2011
Macedonia's foreign trade deficit increased by 90.6% y/y to USD 177.9mn in September, as exports rose by 25.6% y/y to USD 411.8mn and imports grew by 40% y/y to USD 589.7mn, preliminary data of the statistics office showed. In Jan-Sep, the foreign trade deficit rose by 33.2% y/y to USD 1.95bn or 19.9% of the projected full-year GDP. Exports have increased by 39.9% y/y to USD 3.27bn in the first nine months, and imports have risen by 37.3% y/y to USD 5.22bn. The statistics office said that in top export products included supported catalysts with precious metal or precious metal compounds as the active substance, ferronickel, iron and steel products (flat-rolled products), clothes, and petroleum oil preparations. The most significant imported products included platinum and platinum alloys, crude petroleum oils, passenger motor vehicles and electricity. The EU-27 countries were the most important trading partner of Macedonia, accounting for 60.2% of exports and 54.9% of imports in Jan-Sep. The country breakdown shows that Macedonia's top export partners were Germany (27.8% of exports in Jan-Sep), Kosovo (12.8%), Serbia (7.3%) and Bulgaria (7.2%). The most important countries in terms of origin of imports were Germany (10.5%), Russia (10%), the UK (9.5%) and Greece (7.4%).

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