Macedonias foreign trade deficit widens 15.3% y/y in May 2012.

By bne IntelliNews July 5, 2012
Macedonias foreign trade deficit increased by 15.3% y/y to USD 194.6mn in May 2012, as exports dropped by 17.6% y/y to USD 338.1mn and imports contracted by 8% y/y to USD 532.7mn, according to data of the statistics office. In Jan-May, the foreign trade deficit narrowed by 1% on the year to USD 1.07bn, equalling to 9.9% of the projected full-year GDP. In Jan-May, exports decreased by 11.1% y/y to USD 1.59bn and imports dropped by 7.3% y/y to USD 2.66bn. The European Union is Macedonias main trading partner, accounting for 63.2% of the countrys exports and for 57% of the imports in the first five months of this year. Exports to the EU dropped by 10.4% on the year to USD 1.01bn and imports declined by 3% to USD 1.52bn in Jan-May 2012. In Jan-May, top export products were 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 30.2% of Jan-May exports), Kosovo (10.4%) and Bulgaria (7.2%). The most important countries in terms of origin of imports were Greece (11.1%), the UK (9.5%) and Germany (9.3%).
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Macedonias 2013 tobacco crop expected to exceed 30,000 tonnes.

Macedonias tobacco crop is expected to increase by 20% to over 30,000 tonnes in 2013, Utrinski vesnik daily reported quoting Danco Mileski, president of the countrys tobacco association. The ... more

Macedonia cancels tender for gas distribution network feasibility study.

The transport ministry has cancelled the tender for preparing a feasibility study for developing the countrys natural gas distribution network, build.mk portal reported. Reportedly, two bids were ... more

Komercijalna Banka wins Global Finance award Best Bank in Macedonia for 2013.

Large-sized commercial bank Komercijalna Banka announced that it has won the award Best Bank in Macedonia for 2013 by the magazine Global Finance. The Macedonian bank wins the award for a 10th ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    8 days ago
  4. Don't mention the "D" word - Ukraine
    5 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss