Macedonia Balance of Trade

Last Release

Dec 31, 2024

Actual

-388,402

Units In

USD Thousands

-303,035

Frequency

Monthly

Next Release

Mar 07, 2025

Time to Release

27 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
-54,372 Sep 2006	-437,514 Apr 2022	-184,602.83 USD Thousands	1994-2024	State Statistical Office of the Republic of Macedonia

Macedonia exports mostly supported catalysts with precious metal or precious metal compounds as the active substance, ferro-nickel, iron and steel products (flat-rolled products), clothes, and petroleum oil preparations. Macedonia imports crude oil, platinum and platinum alloys, motor vehicles and electricity. Macedonia's most important trading partners are Germany, Serbia, Bulgaria, Russia and Greece (44.0% of the total international commodity trade).

Latest Updates

North Macedonia’s trade deficit widened to $388 million in December 2024 from $329 million in the corresponding month of the previous year. Exports shrank 17.5% year-on-year to $592.5 million, while imports declined at a much softer pace of 6.3% to $980.9 million. Considering the whole period of 2024, exports decreased 6.4% compared to the same period a year earlier to $8,425.3 million, weighed down by lower sales of mineral fuels, lubricants and related materials (-21.2%) and chemicals and related products, n.e.s. (-20.1%). Meanwhile, imports declined at a slower 0.7% to $11,969.6 million, primarily due to reduced purchases of crude materials, inedible, except fuels (-11.%), mineral fuels, lubricants and related materials (-10.2%), and chemicals and related products, n.e.s. (-4.1%). However, purchases accelerated for beverages and tobacco (16.4%), animal and vegetable oils, fats and waxes (11.7%), and machinery and transport equipment (8.5%).