Macedonia - KDNK Kadar Pertumbuhan Tahunan

Macedonia’s GDP expanded 3.1 percent year-on-year in the second quarter of 2019, slowing from a 4.1 percent advance in the previous period. Net foreign demand contributed negatively to growth, as exports rose 10.6 percent (vs 15.6 percent in Q1) while imports jumped at a faster 10.9 percent (vs 14.4 percent). Meantime, household consumption (3.1 percent vs 2.6 percent); government expenditure (1.2 percent vs 0.1 percent) and fixed investment (11.1 percent vs 9.9 percent) increased faster.

The gross domestic product in Macedonia expanded 4.1 percent year-on-year in the first quarter of 2019, accelerating from a 3.7 percent advance in the previous three-month period. It was the highest growth rate since the last quarter of 2015, as gross fixed capital formation rose 9.9 percent, faster than a 1.6 percent increase in Q4. Also, net foreign demand contributed positively to growth, as exports jumped 15.6 percent (from 21.7 percent in Q4) and imports went up at a softer 14.4 percent (from 17.5 percent). Meanwhile, both household consumption (2.6 percent from 4.6 percent) and government expenditure (0.1 percent from 4.7 percent) slowed.

Macedonia's gross domestic products advanced 3.7 percent year-on-year in the fourth quarter of 2018, quickening from a 3 percent growth in the previous period. It is the fastest expansion since the fourth quarter of 2015. Household consumption rose faster (4.6 percent vs 3 percent in Q3) and gross capital formation rebounded (1.6 percent vs -8.5 percent). Meantime, government spending grew less (4.7 percent vs 9.6 percent). The net trade contributed positively to growth, as exports jumped 21.7 percent (vs 12 percent in Q3) and imports advanced at a slower 17.5 percent (vs 7.5 percent in Q3). On the production side, main drivers of growth were construction (19.6 percent vs -2.6 percent); manufacturing (6.3 percent vs 4.1 percent) and mining & utilities (5.4 percent vs 3.6 percent). In 2018, the economy expanded 2.7 percent, far above 0.2 percent in 2017.