Key Macroeconomic Indicators Republic of Macedonia
|
1992 |
1993 |
1994 |
1995 |
1996 |
1997 |
1998 |
1999 (estimate) |
2000 (projected) |
||
|
OUTPUT AND EXPENDITURE (Percentage change in real terms) |
||||||||||
|
GDP |
-8.0 |
-9.1 |
-1.8 |
-1.2 |
1.2 |
1.4 |
2.9 |
2.7 |
5.0 |
|
|
Industrial gross output |
-16.0 |
-14.3 |
-9.7 |
-8.9 |
5.0 |
2.9 |
4.5 |
-2.5 |
Na |
|
|
Agricultural gross output |
0.4 |
-20.4 |
7.8 |
2.3 |
-2.9 |
0.0 |
3.9 |
0.3 |
Na |
|
|
EMPLOYMENT (Percentage change) |
||||||||||
|
Labor force (annual average) |
-3.6 |
-2.4 |
-2.4 |
-1.5 |
na |
1.4 |
2.9 |
Na |
Na |
|
|
Employment (annual average) |
-4.8 |
-5.6 |
-6.0 |
-9.9 |
Na |
-4.7 |
5.4 |
1.0 |
Na |
|
|
(In per cent of labor force) |
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|
Unemployment (annual average) |
27.8 |
28.3 |
31.4 |
37.7 |
na |
36.0 |
34.5 |
32.4 |
Na |
|
|
PRICES AND WAGES (Percentage change) |
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|
Consumer prices (annual average) |
1,664 |
338.4 |
126.5 |
16.4 |
2.5 |
1.5 |
0.6 |
-1.3 |
8.5 |
|
|
Consumer prices (endyear) |
1,935 |
241.8 |
55.0 |
9.0 |
-0.6 |
2.6 |
-2.4 |
2.3 |
5.5 |
|
|
Producer prices (annual average) |
2,198 |
258.3 |
84.6 |
3.9 |
-0.2 |
4.5 |
3.4 |
Na |
Na |
|
|
Producer prices (endyear) |
2,149 |
177.8 |
28.5 |
2.2 |
-0.6 |
8.6 |
-0.1 |
4.2 |
Na |
|
|
Gross average monthly earnings in economy (annual average) |
984 |
498.9 |
103.8 |
10.4 |
2.7 |
2.8 |
3.7 |
2.9 |
Na |
|
|
GOVERNMENT SECTOR (In per cent of GDP) |
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|
General government balance |
-9.8 |
-13.4 |
-2.7 |
-1.0 |
-1.4 |
-0.4 |
-1.8 |
0.0 |
1.0 |
|
|
General government expenditure |
49.1 |
53.6 |
45.8 |
39.0 |
37.1 |
35.3 |
35.8 |
38.0 |
Na |
|
|
MONETARY SECTOR (Percentage change) |
||||||||||
|
Broad money (M3, endyear) |
Na |
Na |
8.9 |
-59.3 |
0.5 |
19.6 |
14.0 |
30.0 |
Na |
|
|
Domestic credit (endyear) |
Na |
Na |
31.2 |
-48.8 |
-11.5 |
6.8 |
-31.7 |
12.8 |
Na |
|
|
(In per cent of GDP) |
||||||||||
|
Broad money (M3, endyear) |
Na |
89.1 |
39.2 |
13.8 |
13.3 |
15.2 |
16.8 |
21.5 |
Na |
|
|
INTEREST AND EXCHANGE RATES (In per cent per annum, endyear) |
||||||||||
|
Basic rate of the NB |
719.0 |
848.0 |
66.0 |
16.0 |
11.0 |
15.2 |
18.3 |
11.8 |
Na |
|
|
Interbank interest rate |
Na |
Na |
Na |
35.7 |
22.5 |
21.1 |
18.1 |
11.6 |
Na |
|
|
Deposit rate |
435.0 |
322.0 |
117.6 |
24.1 |
12.8 |
11.6 |
11.7 |
11.3 |
Na |
|
|
Lending rate |
1,100.0 |
367.0 |
159.8 |
46.0 |
21.6 |
21.4 |
21.0 |
20.0 |
Na |
|
|
Exchange rate (endyear) |
12.4 |
44.5 |
40.6 |
38.0 |
41.4 |
55.4 |
51.8 |
60.0 |
Na |
|
|
Exchange rate (annual average) |
5.1 |
23.6 |
43.2 |
38.0 |
40.0 |
49.8 |
54.5 |
56.9 |
Na |
|
|
EXTERNAL SECTOR (In millions of US dollars) |
||||||||||
|
Current account |
-19 |
15 |
-180 |
-222 |
-289 |
-277 |
-309 |
-135 |
-320 |
|
|
Trade balance |
-7 |
43 |
-186 |
-221 |
-317 |
-386 |
-419 |
-408 |
-486 |
|
|
Merchandise exports |
1,199 |
1,056 |
1,086 |
1,204 |
1,147 |
1,237 |
1,292 |
1,192 |
1,345 |
|
|
Merchandise imports |
1,206 |
1,013 |
1,272 |
1,425 |
1,464 |
1,623 |
1,711 |
1,600 |
1,831 |
|
|
Foreign direct investments, net |
0 |
0 |
24 |
12 |
12 |
18 |
175 |
27.0 |
100.0 |
|
|
Gross reserves (endyear), excluding gold |
53 |
105 |
165 |
257 |
240 |
256 |
304 |
427.7 |
Na |
|
|
External debt stock |
758 |
818 |
844 |
1,062 |
1,118 |
1,139 |
1,437 |
1,484 |
Na |
|
|
(In months of imports of goods and services) |
||||||||||
|
Gross reserves (end year), excluding gold |
0.5 |
1.0 |
1.2 |
1.7 |
1.6 |
1.6 |
1.8 |
2.7 |
Na |
|
|
(In per cent of exports of goods and services) |
||||||||||
|
Debt service |
na |
13.1 |
15.8 |
10.4 |
11.1 |
8.7 |
10.1 |
12.7 |
Na |
|
|
MEMORANDUM ITEMS (Denominations as indicated) |
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|
Population (midyear, millions) |
2.2 |
2.2 |
1.9 |
2.0 |
2.0 |
2.0 |
2.0 |
2.0 |
Na |
|
|
GDP (in millions of denars) |
11,793 |
59,164 |
146,409 |
169,521 |
176,444 |
184,982 |
190,827 |
193,520 |
220,468 |
|
|
GDP per capita (in US dollars) |
1,053 |
1,141 |
1,742 |
2,267 |
2,225 |
1,856 |
1,752 |
1,701 |
Na |
|
|
Share of industry in GDP (in per cent) |
27.1 |
25.6 |
24.3 |
19.6 |
19.5 |
20.7 |
21.8 |
20.7 |
Na |
|
|
Share of agriculture in GDP (in per cent) |
9.4 |
8.2 |
9.1 |
10.6 |
10.7 |
10.7 |
10.0 |
9.2 |
Na |
|
|
Current account/GDP (in per cent) |
-0.8 |
0.6 |
-5.3 |
-5.0 |
-6.5 |
-7.5 |
-8.8 |
-4.0 |
-9.3 |
|
|
External debt reserves (in US$ millions) |
705.3 |
713.4 |
678.6 |
805.0 |
878.5 |
882.8 |
1,133.1 |
1,056.3 |
Na |
|
|
External debt/GDP (in per cent) |
32.7 |
32.6 |
24.9 |
23.8 |
25.3 |
30.7 |
41.0 |
43.6 |
Na |
|
|
External debt/expoirts of goods and services (in per cent) |
60.2 |
71.8 |
67.1 |
76.5 |
85.9 |
83.4 |
101.0 |
103.1 |
Na |
|
Source: TRANSITION REPORT 2000 (Employment, Skills and Transition), European Bank for Reconstruction and Development, London, p. 165.