Macedonia 8-mo trade gap narrows 10.3%

Macedonia’s exports dropped 11.1% to $2.58 billion through August, while imports decreased by 9.9% to $4.18 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 and electricity.

Macedonia's biggest foreign markets are the European Union member states, accounting for 62.7% of its exports through August, and the Western Balkans with a 24.3% share. As much as 58.9% of Macedonia's imports originate in the EU and a further 22.4% in developing countries.

Macedonia’s main trade partners through August were Germany, Greece, Serbia, Bulgaria and Italy. They had a combined share of 47% of Macedonia's overall trade volume.

($=0.7726 euro)