Macedonia’s foreign trade deficit narrowed by 54.9% y/y to $86.7mn in January, the statistics office said. We estimate that the shortfall equals 0.7% of the projected 2015 GDP. Exports rose 4.8% y/y to $335.7mn in January, while imports dropped 17.6% y/y to $422.4mn.
The EU-28 countries bought 80.1% of Macedonia’s exports and forwarded 64.6% of its imports in the first month of 2015. Macedonia’s exports to the EU edged up 1.9% y/y to $268.8mn, whereas imports from the bloc declined 18.5% y/y to $272.6mn.
Macedonia's main export markets were Germany (accounting for 46.3% of January exports), Bulgaria (7.7%), China (6.5%), and Italy (4.6%). Imports came mainly from the UK (18.5%), Germany (10.3%), Serbia (7.9%), and Greece (6.7%).
In January, 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.
Macedonia’s October 15 local elections are seen as a popularity test for both the governing Social Democratic Union of Macedonia (SDSM) and for VMRO-DPMNE, which went into opposition in May after ... more
A Macedonian court has sentenced the attacker of a former opposition MP to four years in prison, media in Skopje said on October 12. The assault took place during the protests in the ... more
Macedonia’s FON University, owned by businessman Fijat Canoski, has signed a memorandum of cooperation with investors China’s Yida Construction and local firm FINE to build a university campus ... more