Macedonia Economy Report Q4 2016

The country’s GDP increased by a real 2.4% y/y and totalled MKD 433.4 bln in 2016, according to preliminary data of the State Statistical Office of the Republic of Macedonia (SSORM).

Final consumption, which contributed 87.1% to the GDP, increased in value terms by 3.7% y/y to MKD 377.4 bln in 2016. Gross capital formation went down by 4.3% to MKD 127.3 bln, contributing 29.4% to the GDP. Both exports and imports grew - by 11.5% and 7.6%, respectively.