Europe > Macedonia, Republic of > Economy

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Agriculture > products wheat, grapes, rice, tobacco, corn, millet, cotton, sesame, mulberry leaves, citrus, vegetables; beef, pork, poultry, mutton
Big Mac Index	$1.90		[48th of 65]
Source: CIA World Factbook, 28 July 2005
Debt > External	$2,561,000,000.00		[112nd of 136]
Source: The Economist.
Distribution of family income > Gini index	39		[18th of 43]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Economic freedom	1.75		[95th of 156]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Economy > Overview At independence in September 1991, Macedonia was the least developed of the Yugoslav republics, producing a mere 5% of the total federal output of goods and services. The collapse of Yugoslavia ended transfer payments from the central government and eliminated advantages from inclusion in a de facto free trade area. An absence of infrastructure, UN sanctions on the downsized Yugoslavia, and a Greek economic embargo over a dispute about the country's constitutional name and flag hindered economic growth until 1996. GDP subsequently rose each year through 2000. In 2001, during a civil conflict, the economy shrank 4.5% because of decreased trade, intermittent border closures, increased deficit spending on security needs, and investor uncertainty. Growth barely recovered in 2002 to 0.9%, then averaged 4% per year during 2003-07, expanding to 5.1% in 2007. Macedonia has maintained macroeconomic stability with low inflation, but it has so far lagged the region in attracting foreign investment and creating jobs, despite making extensive fiscal and business sector reforms. Official unemployment remains high at nearly 35%, but may be overstated based on the existence of an extensive gray market, estimated to be more than 20 percent of GDP, that is not captured by official statistics.
Source: The Heritage Foundation
Exchange rates Macedonian denars per US dollar - 49.41 (2004), 54.32 (2003), 64.35 (2002), 68.04 (2001), 65.9 (2000)
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Exports	$3,350,000,000.00		[113rd of 189]
Source: CIA World Factbook, 28 July 2005
GDP	$6,217,133,000.00		[116th of 203]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
GDP > PPP	$13,533,000,000.00		[115th of 163]
Source: World Development Indicators database and CIA World Factbook
GDP > Real growth rate	5.1%		[102nd of 198]
Source: World Bank. 2005. World Development Indicators 2005.
GDP growth > annual %	3.96 annual %		[104th of 187]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
GINI index	38.99		[19th of 40]
Source: World Development Indicators database
Gross National Income	$3,456,590,000.00		[114th of 172]
Source: World Development Indicators database
Human Development Index	0.797		[60th of 178]
Income category	Lower middle income
Source: Human Development Report 2006, United Nations Development Programme
Inflation rate (consumer prices)	2.3%		[145th of 192]
Source:
Population below poverty line	29.8%		[10th of 46]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Public debt	30.8 % of GDP		[71st of 121]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Tourist arrivals	121,000		[112nd of 152]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008

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