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Macedonia's GDP grows by 3.1 % y/y in Q2

Macedonia's GDP grows by 3.1 % y/y in Q2 Bradley Howard/CC BY 2.0

SKOPJE (Macedonia), September 6 (SeeNews) – Macedonia's economy grew by an estimated 3.1% year-on-year in the second quarter of 2018, reaching 159.685 billion denars ($3 billion/2.6 billion euro) at current prices, after increasing by 0.1% in the previous quarter, official figures showed on Thursday.

Exports of goods and services increased by 13.7% year-on-year in the review period, while imports grew by 4.0%, according to figures posted on the website of the statistical office.

Macedonia's household final consumption grew by an estimated 1.8% year-on-year in April-June 2018.

Gross capital formation fell by 11.3% in the second quarter, compared to a year earlier. In the first quarter, gross capital formation decreased by 9% on an annual comparison basis.

Macedonia recorded zero economic growth last year.

(1 euro = 61.18 denars)