Macedonias foreign trade deficit widens 14.3% y/y in April 2012.

By bne IntelliNews June 5, 2012
Macedonias foreign trade deficit increased by 14.3% on the year to USD 270.4mn in April, according to data of the statistics office. In April, exports plummeted by 28.4% y/y to USD 288.3mn, while imports dropped by 12.6% y/y to USD 558.7mn. The foreign trade deficit narrowed by 5.9% on the year to USD 859.8mn in Jan-Apr. The gap corresponds to 8% of projected full-year GDP. In Jan-Apr, exports decreased by 11.2% y/y to USD 1.23bn, while imports have contracted by 9.1% y/y to USD 2.09bn. EU-27 countries accounted for 63.6% of Macedonias exports and 56.2% of the imports in the first four months of this year. Exports to the Union have dropped by 10.9% y/y to USD 779.5mn, while imports have declined by 3.7% y/y to USD 1.17bn. In Jan-Apr, Macedonia exported mainly supported catalysts with precious metal, or precious metal compounds as the active substance, ferronickel, petroleum oil preparations, iron and steel products (flat-rolled products) and clothes. The main imported goods included platinum and platinum alloys, crude petroleum oil, natural gas and electricity. Macedonia's main export partners were Germany (accounting for 30.7% of Jan-Apr exports), Kosovo (10.5%) and Italy (7%). The most important countries in terms of origin of imports were Greece (10.1%), the UK (9.8%) and Germany (9.4%).

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