September 5 (SeeNews) - Macedonia’s trade deficit narrowed to $1.419 billion (1.13 billion euro) in the first seven months of 2012 from $1.539 billion a year earlier, data of the country's statistics office indicated on Wednesday.
Macedonia’s exports dropped 8.8% to $2.3 billion through July, while imports decreased by 7.9% to $3.7 billion, the statistics office said in a statement.
The country of more than two million people exports mainly catalysts, iron, steel products, ferro-nickel, clothes and oil derivatives. It imports mostly platinum, crude oil, natural gas and electricity.
Macedonia's biggest foreign markets are the European Union member states, accounting for 62.8% of its exports through July, and the Western Balkans with a 24.3% share. As much as 58.3% of Macedonia's imports originate in the EU and a further 23.1% in developing countries.
Macedonia’s main trade partners through July were Germany, Greece, Serbia, Bulgaria and Italy. They had a combined share of 46.8% of Macedonia's overall trade volume.
($=0.7950 euro)