You are here > 1Up Travel > Countries of the World > Europe > Macedonia



 Country Facts









  Maps & Cities

  Transnational issues


  Macedonia Guide
  Macedonia Maps
  Macedonia Hotels
  Macedonia Flag
  More Macedonia Flags
  Macedonia Geography
  Macedonia Travel Warning

Travel & Tourism . Tourist Guide to the Country

Macedonia Economy

Macedonia, The Former Yugoslav Republic of    Economy Top of Page
Economy - overview: At independence in November 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 center and eliminated advantages from inclusion in a de facto free trade area. An absence of infrastructure, UN sanctions on its largest market Yugoslavia, and a Greek economic embargo hindered economic growth until 1996. GDP has subsequently increased each year, rising by 5% in 2000. Successful privatization in 2000 boosted the country's reserves to over $700 million. Also, the leadership demonstrated a continuing commitment to economic reform, free trade, and regional integration. Inflation jumped to 11% in 2000, largely due to higher oil prices.
GDP: purchasing power parity - $9 billion (2000 est.)
GDP - real growth rate: 5% (2000 est.)
GDP - per capita: purchasing power parity - $4,400 (2000 est.)
GDP - composition by sector: agriculture:  12%

industry:  25%

services:  63% (2000)
Population below poverty line: 25% (2000 est.)
Household income or consumption by percentage share: lowest 10%:  NA%

highest 10%:  NA%
Inflation rate (consumer prices): 11% (2000 est.)
Labor force: 1 million (1999 est.)
Labor force - by occupation: agriculture NA%, industry NA%, services NA%
Unemployment rate: 32% (2000)
Budget: revenues:  $1.06 billion

expenditures:  $1 billion, including capital expenditures of $107 million (1996 est.)
Industries: coal, metallic chromium, lead, zinc, ferronickel, textiles, wood products, tobacco
Industrial production growth rate: 3% (2000)
Electricity - production: 6.395 billion kWh (1999)
Electricity - production by source: fossil fuel:  82.25%

hydro:  17.75%

nuclear:  0%

other:  0% (1999)
Electricity - consumption: 5.992 billion kWh (1999)
Electricity - exports: 30 million kWh (1999)
Electricity - imports: 75 million kWh (1999)
Agriculture - products: rice, tobacco, wheat, corn, millet, cotton, sesame, mulberry leaves, citrus, vegetables; beef, pork, poultry, mutton
Exports: $1.4 billion (f.o.b., 2000 est.)
Exports - commodities: food, beverages, tobacco; miscellaneous manufactures, iron and steel
Exports - partners: Germany 22%, Yugoslavia 22%, US 12%, Greece 7%, Italy 6% (2000)
Imports: $2 billion (f.o.b., 2000 est.)
Imports - commodities: machinery and equipment, chemicals, fuels; food products
Imports - partners: Germany 13%, Ukraine 13%, Russia 10%, Yugoslavia 8%, Greece 8% (2000)
Debt - external: $1.4 billion (2000)
Economic aid - recipient: $100 million from the EU (2000)
Currency: Macedonian denar (MKD)
Currency code: MKD
Exchange rates: Macedonian denars per US dollar - 64.757 (January 2001), 65.904 (2000), 56.902 (1999), 54.462 (1998), 50.004 (1997), 39.981 (1996)
Fiscal year: calendar year


Countryfacts Information Courtesy: CIA Worldbook

Make 1Up Travel your HomepageSend this Page to a FriendGo to Top of PagePrint this PageAdd 1Up Travel to your Favorites


Compare Country Info Hotel Directory Geography Flags World Maps Travel Warnings National Parks


Asia Africa Caribbean Middle East North America South America Central America Oceania Pacific Europe Polar Regions


Destinations Monuments Ancient Wonders Modern Wonders Natural Wonders


World Time ISD Codes Travel Links Link Exchange


Disclaimer: Although we've tried to make the information on this web site as accurate as possible, we accept no responsibility for any loss, injury or inconvenience sustained by any person resulting from information published on this site. We encourage you to verify any critical information with the relevant authorities before you travel.

Copyright 1Up Travel All Rights Reserved.
Go Up

Privacy Policy