North Macedonia SWOT Analysis & Macroeconomic Trends 麻豆原创 Research Report

Publication ID:

MRR0620022

Publication Date:

June 9, 2020

Pages:

Publisher:

麻豆原创 Research Reports, Inc

Countries:

North Macedonia [1]

USD 350.00

Business & Government [2]

Country SWOT Analysis [3]

Description:

ICT, transport, travel and tourism, catalytic preparations, electrical goods, automotive, machinery, metals, minerals, electronics, agriculture and textiles are major industries of North Macedonia. In 2017, Agriculture industry contributed 10.9% to GDP of North Macedonia. Manufacturing had a share of 26.6% while services industry had a share of 62.5% of GDP in 2017.

In 2017, Services industry exports was valued at USD 1.63 billion for North Macedonia. Electronics export accounted for USD 813 million, machinery for USD 673 million, vehicals for USD 544 million, chemicals for USD 1.60 billion, metals for USD 687 million, minerals for USD 411 million, stones for USD 70.5 million, textiles for USD 993 million and agriculture for USD 709 million in 2017.

North Macedonia (previous known as Macedonia before 2019), officially the Republic of North Macedonia, is situated in Southeast Europe. It gained its independence in 1991 from Yugoslavia.

It shares borders with Kosovo to the northwest, North Macedonia to the southeast, Bulgaria to the east, Serbia to the northeast, Greece to the south and Albania to the west. Since it is situated in the southeast part of Europe, it doesn't share any sea or ocean cover on any side, and it is completely landlocked geographically.

North Macedonia is estimated to have population of 2.08 million in the year 2020 and expected to reach 2.082 million by 2024, growing at a CAGR of 0.02%.

North Macedonia鈥檚 real gross domestic product (GDP) was MKD 464.173 billion in 2019 and due to COVID-19 outbreak it is estimated to shrink by 4.00% to be around MKD 445.572 billion in 2020.

North Macedonia鈥檚 unemployment rate was 17.25% of total labor force in 2019. Due to slowdown in global economic activity due to COVID-19 pandemic the unemployment is expected to increase by 15.39% and reach 20.387% in 2020.

North Macedonia鈥檚 per capita GDP is estimated at USD 6586.61 whereas purchasing power parity (PPP) based per capita GDP is estimated to be at USD 17307.37 for the year 2020.

In 2020, North Macedonia鈥檚 revenue was estimated to be MKD 218.182 billion whereas the expenditure is estimated to be MKD 236.349 billion. This is expected to result in North Macedonia government鈥檚 net lending / borrowing negative at MKD 18.168 billion in 2020 indicating that not enough financial resources will made available by the government to boost economic growth.

The current account balance for North Macedonia was estimated to be negative at USD 0.154 billion for the year 2019 and is expected to further decrease at a CAGR of 22.78% and remain negative at USD 0.35 billion by 2024. This negative current account balance indicates that North Macedonia is a net borrower from rest of the world.

In World Bank鈥檚 ease of doing business ranking North Macedonia was ranked 17 out of 190 countries in 2019. North Macedonia鈥檚 ease of doing business ranking has slipped from 10th position in 2018.

Scope of North Macedonia 鈥� SWOT Analysis and Macroeconomic Trends Report

This report provides information about key macroeconomic indicators for North Macedonia.
This report provides SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis for North Macedonia.
This report provides information on Coronavirus (COVID-19) pandemic related policy response of North Macedonia.

Table Of Contents:

1. Executive Summary

Scope of North Macedonia 鈥� SWOT Analysis and Macroeconomic Trends Report

Research Methodology

2. North Macedonia - Country Overview

2.1 People Indicators

2.1.1 Population

2.1.2 Unemployment

2.2 National Accounts Indicators

2.2.1 Real Gross Domestic Product

2.2.2 Nominal Gross Domestic Product

2.2.3 Gross Domestic Product Deflator

2.2.4 Per Capita Gross Domestic Product

2.2.5 Purchasing-Power-Parity (PPP) Based Per Capita GDP

2.2.6 Gross National Savings

2.3 Monetary Indicators

2.3.1 Consumer Price Index (CPI) Inflation

2.4 Trade Indicators

2.4.1 Change in Import Volume of Goods & Services

2.4.2 Change in Export Volume of Goods & Services

2.5 Government Finance Indicators

2.5.1 Government Revenue

2.5.2 Government Expenditure

2.5.3 Government Net Lending / Borrowing

2.5.4 Government Gross Debt

2.5.5 Government Net Debt

2.6 Balance of Payment Indicators

2.6.1 Current Account Balance

2.7 Ease of Doing Business in North Macedonia

3. SWOT Analysis of North Macedonia

3.1 Strengths

3.2 Weaknesses

3.3 Opportunities

3.4 Threats

4. COVID-19 Related Policy Response of North Macedonia

4.1 Coronavirus (COVID-19) Containment Measures of North Macedonia

4.2 Coronavirus (COVID-19) Related Fiscal Policy Measures by North Macedonia

4.3 Coronavirus (COVID-19) Related Monetary Policy Measures by North Macedonia

List of Exhibits

Notes

List of Exhibits

Exhibit 2.1 Population of North Macedonia (in millions)

Exhibit 2.2 Unemployment Level in North Macedonia (in %)

Exhibit 2.3 Real GDP of North Macedonia (in MKD billion)

Exhibit 2.4 Nominal GDP of North Macedonia (in MKD billion)

Exhibit 2.5 Nominal GDP of North Macedonia (in USD billions)

Exhibit 2.6 GDP Deflator Index for North Macedonia

Exhibit 2.7 Per Capita GDP of North Macedonia (in USD)

Exhibit 2.8 PPP Per Capita GDP of North Macedonia (in USD)

Exhibit 2.9 Gross National Savings of North Macedonia (in %)

Exhibit 2.10 Consumer Price Index (CPI) Inflation of North Macedonia

Exhibit 2.11 Change in Import Volume of Goods & Services of North Macedonia (in %)

Exhibit 2.12 Change in Export Volume of Goods & Services of North Macedonia (in %)

Exhibit 2.13 Government Revenue of North Macedonia (in MKD billion)

Exhibit 2.14 Government Revenue of North Macedonia (in % of GDP)

Exhibit 2.15 Government Expenditure of North Macedonia (in MKD billion)

Exhibit 2.16 Government Expenditure of North Macedonia (in % of GDP)

Exhibit 2.17 Government Net Lending / Borrowing of North Macedonia (in MKD billion)

Exhibit 2.18 Government Net Lending / Borrowing of North Macedonia (in % of GDP)

Exhibit 2.19 Government Gross Debt of North Macedonia (in MKD billion)

Exhibit 2.20 Government Gross Debt of North Macedonia (in % of GDP)

Exhibit 2.21 Government Net Debt of North Macedonia (in MKD billion)

Exhibit 2.22 Government Net Debt of North Macedonia (in % of GDP)

Exhibit 2.23 Current Account Balance of North Macedonia (in USD billions)

Exhibit 2.24 Current Account Balance of North Macedonia (in % of GDP)

Exhibit 2.25 North Macedonia - Ease of Doing Business Ranking from 2008-2019

Exhibit 3.1 SWOT Analysis of North Macedonia

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