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Country Report Macedonia Product Image

Country Report Macedonia

  • Published: September 2014
  • Region: Macedonia
  • 28 Pages
  • The Economist Intelligence Unit

According to preliminary State Statistical Office (SSO) data, second-quarter GDP increased by an annual 4.3%, against 3.5% in January-March.

Strong second-quarter growth mainly reflected a reported 35.6% annual rise in net taxes. There may be grounds for caution about this potentially anomalous figure, pending further data. Elsewhere on the production side, wholesale and retail trade, financial and insurance activities, and information and communications posted annual rises of 5%, 4.1% and 4% respectively. Its strong performance made wholesale and retail trade-which accounted for 13.7% of GDP-the main growth driver. The largest sector, industry, accounted for 16.9% of GDP but posted only 0.2% annual growth.

Construction, which accounts for 10.2% of GDP and provided a major boost to growth in the first quarter, posted only 0.6% annual growth in the second quarter. The slowdown reflected a high base in April-June 2013, plus a delay to planned government investments as a result of the budget imbalance caused by spending before the April 2014 presidential and parliamentary elections.

Country Report Macedonia

Preliminary data show strong Q2 GDP growth
Impact on the forecast

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