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2022
Economic Complexity
Trade 0.25Rank 52 of 133
2021
Economic Complexity
Technology -1.36Rank 87 of 96
2022
Economic Complexity
Research -0.47Rank 81 of 135
2022
Product
Exports | Imports $9.52B | $13.1B105 of 226 |  106 of 226
2022
Per Capita Product
Exports | Imports $4.63k | $6.35k68 of 220 |  77 of 220

About

Overview In 2022, North Macedonia was the number 135 economy in the world in terms of GDP (current US$), the number 105 in total exports, the number 106 in total imports, the number 100 economy in terms of GDP per capita (current US$) and the number 52 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of North Macedonia are Reaction and Catalytic Products ($2.64B), Insulated Wire ($644M), Electricity ($553M), Motor vehicles; parts and accessories (8701 to 8705) ($274M), and Seats ($268M), exporting mostly to Germany ($3.96B), Serbia ($800M), Greece ($683M), Bulgaria ($443M), and Italy ($307M).

Imports The top imports of North Macedonia are Platinum ($1.44B), Refined Petroleum ($1.2B), Electricity ($779M), Precious Metal Compounds ($510M), and Petroleum Gas ($348M), importing mostly from United Kingdom ($2.03B), Greece ($1.7B), Germany ($1.12B), Serbia ($1.03B), and China ($829M).

Location North Macedonia borders Albania, Bulgaria, Greece, and Serbia by land.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of North Macedonia.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Reaction and Catalytic Products$2.64B
Top Destination (2022)Germany$3.96B

In 2022, North Macedonia exported a total of $9.52B, making it the number 105 exporter in the world. During the last five reported years the exports of North Macedonia have changed by $4.98B from $4.54B in 2017 to $9.52B in 2022.

The most recent exports are led by Reaction and Catalytic Products ($2.64B), Insulated Wire ($644M), Electricity ($553M), Motor vehicles; parts and accessories (8701 to 8705) ($274M), and Seats ($268M). The most common destination for the exports of North Macedonia are Germany ($3.96B), Serbia ($800M), Greece ($683M), Bulgaria ($443M), and Italy ($307M).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
Greece$430M (+ 170%)
Germany$112M (+ 2.92%)
Serbia$100M (+ 14.3%)
Fastest Growing Import Markets (2021 - 2022)
Greece$729M (+ 75.4%)
Russia$229M (+ 147%)
China$194M (+ 30.6%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

North Macedonia Exports Services (2020)$1.11B
North Macedonia Imports Services (2020)$1.07B

In 2020, North Macedonia exported $1.11B worth of services. The top services exported by North Macedonia in 2020 were Other transport ($374M), Miscellaneous business, professional, and technical services ($312M), Personal travel ($252M), Construction in the compiling economy ($36.8M), and Merchanting and other trade-related services ($30.8M).

The top services imported by North Macedonia in 2020 were Other transport ($279M), Miscellaneous business, professional, and technical services ($255M), Royalties and license fees ($184M), Personal travel ($136M), and Construction in the compiling economy ($43M).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)0.25Rank 52 of 133
Economic Complexity (Technology)-1.36Rank 87 of 96
Economic Complexity (Research)-0.47Rank 81 of 135

Most Specialized Products by RCA Index

North Macedonia has a high level of specialization in Reaction and Catalytic Products (232), Marble, Travertine and Alabaster (62.2), Buses (38.1), Raw Tobacco (30.1), and Lead Ore (28.7). Specialization is measured using RCA, an index that takes the ratio between North Macedonia observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for North Macedonia according to the relatedness index, were Knit Sweaters (0.22), Knit Men's Undergarments (0.22), Knit Men's Suits (0.22), Knit Men's Coats (0.22), and Locust beans, seaweed, sugar beet, cane, for food (0.21). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that North Macedonia is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of North Macedonia. These are products that tend to be co-exported with the products that North Macedonia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years North Macedonia's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨nullth to the 52nd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI (Trade) Ranking by Country

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