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| 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.
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| GDP: |
purchasing power parity - $9 billion (2000 est.)
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| GDP - real growth rate: |
5% (2000 est.)
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| GDP - per capita: |
purchasing power parity - $4,400 (2000 est.)
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| GDP - composition by sector: |
agriculture:
12%
industry:
25%
services:
63% (2000)
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| Population below poverty line: |
25% (2000 est.)
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| Household income or consumption by percentage share: |
lowest 10%:
NA%
highest 10%:
NA%
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| Inflation rate (consumer prices): |
11% (2000 est.)
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| Labor force: |
1 million (1999 est.)
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| Labor force - by occupation: |
agriculture NA%, industry NA%, services NA%
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| Unemployment rate: |
32% (2000)
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| Budget: |
revenues:
$1.06 billion
expenditures:
$1 billion, including capital expenditures of $107 million (1996 est.)
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| Industries: |
coal, metallic chromium, lead, zinc, ferronickel, textiles, wood products, tobacco
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| Industrial production growth rate: |
3% (2000)
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| Electricity - production: |
6.395 billion kWh (1999)
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| Electricity - production by source: |
fossil fuel:
82.25%
hydro:
17.75%
nuclear:
0%
other:
0% (1999)
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| Electricity - consumption: |
5.992 billion kWh (1999)
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| Electricity - exports: |
30 million kWh (1999)
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| Electricity - imports: |
75 million kWh (1999)
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| Agriculture - products: |
rice, tobacco, wheat, corn, millet, cotton, sesame, mulberry leaves, citrus, vegetables; beef, pork, poultry, mutton
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| Exports: |
$1.4 billion (f.o.b., 2000 est.)
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| Exports - commodities: |
food, beverages, tobacco; miscellaneous manufactures, iron and steel
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| Exports - partners: |
Germany 22%, Yugoslavia 22%, US 12%, Greece 7%, Italy 6% (2000)
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| Imports: |
$2 billion (f.o.b., 2000 est.)
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| Imports - commodities: |
machinery and equipment, chemicals, fuels; food products
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| Imports - partners: |
Germany 13%, Ukraine 13%, Russia 10%, Yugoslavia 8%, Greece 8% (2000)
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| Debt - external: |
$1.4 billion (2000)
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| Economic aid - recipient: |
$100 million from the EU (2000)
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| Currency: |
Macedonian denar (MKD)
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| 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)
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| Fiscal year: |
calendar year
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