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Macedonia : economy statistics and industry reports

  • Updated on : 27 August 2012  Source : The World Factbook


$7.007 billion (2011 est.)
$5.241 billion (2010 est.)


$4.348 billion (2011 est.)
$3.296 billion (2010 est.)

Inflation rate (consumer prices)

3.9% (2011 est.)
1.6% (2010 est.)

Unemployment rate

31.4% (2011 est.)
32% (2010 est.)

GDP - per capita (PPP)

$10,500 (2011 est.)
$10,200 (2010 est.)
$10,000 (2009 est.)
note: data are in 2011 US dollars

National product real growth rate

1.3% (2010 est.)
-0.5% (2009 est.)
4.5% (2008 est.)

Internet users

1.057 million (2009)

Telephones - mobile cellular

2.153 million (2009)

Population growth rate

0.237% (2012 est.)


2,082,370 (July 2012 est.)

Historical background

Macedonia gained its independence peacefully from Yugoslavia in 1991.

Greece's objection to the new state's use of what it considered a Hellenic name and symbols delayed international recognition, which occurred under the provisional designation of "the Former Yugoslav Republic of Macedonia.

" In 1995, Greece lifted a 20-month trade embargo and the two countries agreed to normalize relations, but the issue of the name remained unresolved and negotiations for a solution are ongoing.

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Economic overview

Having a small, open economy makes Macedonia vulnerable to economic developments in Europe and dependent on regional integration and progress toward EU membership for continued economic growth.

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.

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