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Economy
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
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International organization participation:
ACCT (associate), BIS, CCC, CE, CEI, EAPC, EBRD, ECE, FAO, IAEA, IBRD, ICAO, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Intelsat (nonsignatory user), Interpol, IOC, IOM (observer), ISO, ITU, OPCW, OSCE, PFP, UN, UNCTAD, UNESCO, UNIDO, UPU, WCL, WHO, WIPO, WMO, WToO, WTrO (observer)
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Transportation
Railways: total: 699 km
Standard gauge: 699 km 1.435-m gauge (233 km electrified)
Note: a 56-km extension of the Kumanovo-Beljakovci line to the Bulgarian border at Gyveshevo is under construction (2001)
Highways: total: 8,684 km
Paved: 5,540 km (including 133 km of expressways)
Unpaved: 3,144 km (1997)
Waterways: note: lake transport only, on the Greek and Albanian borders
Pipelines: 10 km
Ports and harbors: none
Airports: 16 (2000 est.)
Airports - with paved runways: total: 10
2,438 to 3,047 m: 2
Under 914 m: 8 (2000 est.)
Airports - with unpaved runways: total: 6
914 to 1,523 m: 3
Under 914 m: 3 (2000 est.)
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| Region |
Type |
Price |
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| USA |
Calrose #1 |
$1100 |
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| USA |
Calrose #1 Paddy |
$ N/A |
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| Egypt |
101 #2 |
$ N/A |
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| EU Prices |
Baldo |
€1000 |
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