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]
Definition: Economy > Big Mac Index
Debt > External	$2,561,000,000.00		[112nd of 136]
Definition: Economy > Debt > External
Distribution of family income > Gini index	39		[18th of 43]
Definition: Economy > Distribution of family income > Gini index
Economic freedom	1.75		[95th of 156]
Definition: Economy > Economic freedom
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.
Definition: Economy > Economy > Overview
Exchange rates Macedonian denars per US dollar - 49.41 (2004), 54.32 (2003), 64.35 (2002), 68.04 (2001), 65.9 (2000)
Definition: Economy > Exchange rates
Exports	$3,350,000,000.00		[113rd of 189]
Definition: Economy > Exports
GDP	$6,217,133,000.00		[116th of 203]
Definition: Economy > GDP
GDP > PPP	$13,533,000,000.00		[115th of 163]
Definition: Economy > GDP > PPP
GDP > Real growth rate	5.1%		[102nd of 198]
Definition: Economy > GDP > Real growth rate
GDP growth > annual %	3.96 annual %		[104th of 187]
Definition: Economy > GDP growth > annual %
GINI index	38.99		[19th of 40]
Definition: Economy > GINI index
Gross National Income	$3,456,590,000.00		[114th of 172]
Definition: Economy > Gross National Income
Human Development Index	0.797		[60th of 178]
Definition: Economy > Human Development Index
Income category	Lower middle income
Definition: Economy > Income category
Inflation rate (consumer prices)	2.3%		[145th of 192]
Definition: Economy > Inflation rate (consumer prices)
Population below poverty line	29.8%		[10th of 46]
Definition: Economy > Population below poverty line
Public debt	30.8 % of GDP		[71st of 121]
Definition: Economy > Public debt
Tourist arrivals	121,000		[112nd of 152]
Definition: Economy > Tourist arrivals

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