Macedonia's GDP up by 5.1% y/y in Q1 2011.

By bne IntelliNews June 26, 2011
Macedonia's GDP has increased by a real 5.1% y/y in Q1, accelerating from a revised 3.8% y/y in Q4 2010, the statistics office reported. The latest estimate is that the GDP has risen by a real 1.8% in 2010. With regard to the data for Q1, the supply side breakdown shows that the biggest annual increases were recorded in construction (21.2%) and industry (13.7%). The data on the expenditure components shows that gross capital formation has surged by as much as 60.1% y/y in Q1, speeding up from 26.3% y/y in Q4 2010. It should be noted though, that this impressive growth was recorded from a low base, as gross capital formation has dropped by 47% y/y in Q1 2010. Final consumption has risen by 2.4% y/y in Q1, reversing a 4.5% y/y drop in the previous quarter. In Q1, household final consumption increased by 3.9% y/y and general government final consumption dropped by 3.2% y/y. Exports and imports have surged by 34.8% y/y and 36.5% y/y respectively in Q1.

Macedonia's GDP up by 5.1% y/y in Q1 2011.

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