| Date - Field | Macedonia, The Former Yugoslav Republic of - Economy - overview |
2012 January
Economy - overview | void - (all current Economy informations) |
2011 January
Economy - overview | void - (all current Economy informations) |
2010 January
Economy - overview | void - (all current Economy informations) |
2009 January
Economy - overview | void - (all current Economy informations) |
2008 January
Economy - overview | void - (all current Economy informations) |
2007 January
Economy - overview | void - (all current Economy informations) |
2006 January
Economy - overview | void - (all current Economy informations) |
2005 January
Economy - overview | void - (all current Economy informations) |
2004 January
Economy - overview | At independence in September 1991, Macedonia was the least developed of the Yugoslav republics, producing a mere 5% of the total federal output of goods and services. The collapse of Yugoslavia ended transfer payments from the center and eliminated advantages from inclusion in a de facto free trade area. An absence of infrastructure, UN sanctions on Yugoslavia, one of its largest markets, and a Greek economic embargo over a dispute about the country's constitutional name and flag hindered economic growth until 1996. GDP subsequently rose each year through 2000. However, the leadership's commitment to economic reform, free trade, and regional integration was undermined by the ethnic Albanian insurgency of 2001. The economy shrank 4.5% because of decreased trade, intermittent border closures, increased deficit spending on security needs, and investor uncertainty. Growth barely recovered in 2002 to 0.9%, then rose to 2.8% in 2003. Unemployment at one-third of the workforce remains the most critical economic problem. The gray economy is estimated at around 40% of GDP. Politically, the country is more stable than in 2002. |
2003 January
Economy - overview | At independence in November 1991, Macedonia was the least developed of the Yugoslav republics, producing a mere 5% of the total federal output of goods and services. The collapse of Yugoslavia ended transfer payments from the center and eliminated advantages from inclusion in a de facto free trade area. An absence of infrastructure, UN sanctions on Yugoslavia, one of its largest markets, and a Greek economic embargo over a dispute about the country's constitutional name and flag hindered economic growth until 1996. GDP subsequently rose each year through 2000. However, the leadership's commitment to economic reform, free trade, and regional integration was undermined by the ethnic Albanian insurgency of 2001. The economy shrank 4.6% because of decreased trade, intermittent border closures, increased deficit spending on security needs, and investor uncertainty. Growth barely recovered in 2002. Unemployment at one-third of the workforce remains a critical problem. |
2002 January
Economy - overview | At independence in November 1991, Macedonia was the least developed of the Yugoslav republics, producing a mere 5% of the total federal output of goods and services. The collapse of Yugoslavia ended transfer payments from the center and eliminated advantages from inclusion in a de facto free trade area. An absence of infrastructure, UN sanctions on Yugoslavia, one of its largest markets, and a Greek economic embargo over a dispute about the country's constitutional name and flag hindered economic growth until 1996. GDP subsequently rose each year through 2000. However, the leadership's commitment to economic reform, free trade, and regional integration was undermined by the ethnic Albanian insurgency of 2001. The economy shrank about 4% because of decreased trade, intermittent border closures, increased deficit spending on security needs, and investor uncertainty. The international community hopes to restart growth with a donors' conference in 2002. |
2001 January
Economy - overview | At independence in November 1991, Macedonia was the least developed of the Yugoslav republics, producing a mere 5% of the total federal output of goods and services. The collapse of Yugoslavia ended transfer payments from the center and eliminated advantages from inclusion in a de facto free trade area. An absence of infrastructure, UN sanctions on its largest market Yugoslavia, and a Greek economic embargo hindered economic growth until 1996. GDP has subsequently increased each year, rising by 5% in 2000. Successful privatization in 2000 boosted the country's reserves to over $700 million. Also, the leadership demonstrated a continuing commitment to economic reform, free trade, and regional integration. Inflation jumped to 11% in 2000, largely due to higher oil prices. |
2000 January
Economy - overview | The breakup of Yugoslavia in 1991 deprived Macedonia, then its poorest republic, of key protected markets and large transfer payments from the center. Worker remittances and foreign aid have softened the subsequent volatile recovery period. Continued recovery depends on Macedonia's ability to attract investment, to redevelop trade ties with Greece and Serbia and Montenegro, and to maintain its commitment to economic liberalization. The economy can meet its basic food needs but depends on outside sources for all of its oil and gas and most of its modern machinery and parts. Growth in 1999 was held down by the severe regional economic dislocations caused by the Kosovo conflict. |
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