Macedonias CA deficit widens 6.4 times y/y in November 2011.

By bne IntelliNews February 16, 2012
The CA balance was a deficit of EUR 60mn in November, which compares with a surplus of EUR 26.7mn in October and a deficit of EUR 9.4mn in November 2010, according to preliminary data of the central bank. The annual deterioration was caused mainly by a widening of the trade deficit, as well as y/y deteriorations in the services and income accounts. The trade deficit increased by 34.4% on the year to EUR 177.4mn in November, with exports rising by 5.3% to EUR 265.7mn and imports growing by 15.3% to EUR 443.1mn. The CA balance for Jan-Nov was a deficit of EUR 251.1mn (up 3.4 times on the year) or 3.4% of the full-year GDP estimate. The trade deficit increased by 19.5% on the year to EUR 1.52bn in Jan-Nov, with exports growing by 27.9% to EUR 2.9bn and imports rising by 24.9% to EUR 4.42bn.
Balance of payments, EURmn
2010 2011
Nov Jan-Nov Nov Jan-Nov
CURRENT ACCOUNT -9 -73 -60 -251
GOODS -132 -1,269 -177 -1,517
Exports, f.o.b. 252 2,269 266 2,902
Imports, f.o.b. -384 -3,538 -443 -4,419
SERVICES 11 42 3 115
INCOME 1 -87 -11 -125
CURRENT TRANSFERS 111 1,241 125 1,275
CAPITAL ACCOUNT 0 10 1 18
FINANCIAL ACCOUNT 1 79 36 326
Direct investment 14 134 76 286
Portfolio investment -5 -43 -4 -22
Other investment -9 -11 -36 62
ERRORS AND OMISSIONS 9 19 7 7
OVERALL BALANCE 1 34 -15 100
Source: Central bank, prelim. data

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