Macedonia’s foreign trade gap edges up 0.4% in 2014

By bne IntelliNews February 5, 2015

Macedonia’s foreign trade deficit increased by 0.4% to $2.34bn in 2014, the statistics office said. We estimate that the full-year deficit equals 20.6% of the projected 2014 GDP. Both exports and imports registered double-digit growth rates – exports rose 15.6% y/y to $4.93bn and imports grew 10.3% y/y to $7.28bn.

In December alone, the deficit soared 22% y/y to $253.3mn, as exports dropped 11.8% y/y to $360.7mn and imports edged down 0.4% y/y to $614mn.

The EU-28 countries bought 76.6% of Macedonia’s exports and forwarded 63.5% of its imports in 2014. Macedonia’s exports to the EU grew 22% to $3.78bn, and imports from the bloc rose 11.8% to $4.62bn.

Macedonia's main export markets were Germany (accounting for 41.4% of 2014 exports), Bulgaria (6.6%), Italy (6.1%), Serbia (5.2%) and Kosovo (4.7%). Imports came mainly from the UK (12.3%), Germany (11.1%), Greece (9.2%), Serbia (8.2%) and Italy (6.2%).

In 2014, top export products were: supported catalysts with precious metal or precious metal compounds as the active substance; ferro-nickel; ignition wiring sets and other wiring sets used in vehicles, aircraft or ships; iron and steel products (flat-rolled products); and clothes. The main imported goods included oil; platinum and platinum alloys; electricity; and other metals of the platinum group and alloys thereof.

Related Articles

Skopje court rejects special prosecutor's request to freeze VMRO assets

A Skopje court rejected a request from the Special Prosecutor's Office (SPO) to freeze part of the assets of the conservative VMRO-DPMNE party on May 23, according to local media reports. SPO ... more

Suspended sentences issued for Macedonian parliament violence

Nine people indicted for their role in violent incidents in the Macedonian parliament at the end of April were given suspended sentences by a Skopje court on May 23.  The nine were indicted ... more

Macedonian interior ministry suspends 16 police officers over parliament storming

Macedonia's interior ministry suspended 16 policemen on May 20, including one senior officer in the ministry, for failing to attempt to stop the violent incidents in the parliament on April 27, ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss