Flag North Macedonia

2019
Economic
Complexity
: 0.18, Rank 65 of 157

2019
Product
Exports | Imports
: $7.86B | $10B, 98 of 225 |  102 of 225

2019
Per Capita Product
Exports | Imports
: $3.77k | $4.82k, 71 of 219 |  85 of 219

2017
Service
Exports | Imports
: $1.29B | $1.1B, 100 of 139 | 108 of 139

Overview: In 2019 North Macedonia was the number 133 economy in the world in terms of GDP (current US$), the number 98 in total exports, the number 102 in total imports, the number 98 economy in terms of GDP per capita (current US$) and the number 65 most complex economy according to the Economic Complexity Index (ECI)

Exports: The top exports of North Macedonia are Reaction and Catalytic Products ($1.51B), Centrifuges ($810M), Insulated Wire ($642M), Vehicle Parts ($389M), and Buses ($347M), exporting mostly to Germany ($3.52B), Serbia ($607M), Bulgaria ($354M), Czechia ($324M), and Belgium ($241M).

Imports: The top imports of North Macedonia are Platinum ($1.63B), Refined Petroleum ($633M), Laboratory Ceramic Ware ($507M), Cars ($251M), and Insulated Wire ($232M), importing mostly from United Kingdom ($1.36B), Germany ($1.35B), Greece ($831M), Serbia ($758M), and Bulgaria ($450M).

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

Yearly Exports

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Value
Depth

Top Export (2019): Reaction and Catalytic Products, $1.51B

Top Destination (2019): Germany, $3.52B

In 2019, North Macedonia exported a total of $7.86B, making it the number 98 exporter in the world. During the last five reported years the exports of North Macedonia have changed by $2.33B from $5.53B in 2014 to $7.86B in 2019.

The most recent exports are led by Reaction and Catalytic Products ($1.51B), Centrifuges ($810M), Insulated Wire ($642M), Vehicle Parts ($389M), and Buses ($347M). The most common destination for the exports of North Macedonia are Germany ($3.52B), Serbia ($607M), Bulgaria ($354M), Czechia ($324M), and Belgium ($241M).

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Yearly Imports

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Value
Depth

Top Import (2019): Platinum, $1.63B

Top Origin (2019): United Kingdom, $1.36B

In 2019 North Macedonia imported $10B, making it the number 102 trade destination in the world. During the last five reported years the imports of North Macedonia changed by $2.47B from $7.58B in 2014 to $10B in 2019.

The most recent imports of North Macedonia are led by Platinum ($1.63B), Refined Petroleum ($633M), Laboratory Ceramic Ware ($507M), Cars ($251M), and Insulated Wire ($232M). The most common import partners for North Macedonia are United Kingdom ($1.36B), Germany ($1.35B), Greece ($831M), Serbia ($758M), and Bulgaria ($450M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

North Macedonia Exports Services (2017): $1.29B

North Macedonia Imports Services (2017): $1.1B

In 2017, North Macedonia exported $1.29B worth of services. The top services exported by North Macedonia in 2017 were Other transport ($359M), Personal travel ($327M), Miscellaneous business, professional, and technical services ($249M), Construction in the compiling economy ($141M), and Merchanting and other trade-related services ($80M).

The top services imported by North Macedonia in 2017 were Other transport ($247M), Miscellaneous business, professional, and technical services ($227M), Personal travel ($192M), Construction in the compiling economy ($167M), and Sea transport ($64.6M).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for North Macedonia are Cigarettes containing tobacco (60%) and Cigars, cheroots, cigarettes, with tobacco substitute (60%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for North Macedonia are:
136: Most Favoured Nation duty rate treatement
180: Preferential tariff for CEFTA countries
217: Preferential tariff for European Free Trade Association (EFTA) countries
220: Preferential tariff for European Union countries (SAA) Stabilisation and Association Agreement
322: Preferential tariff for Turkey
325: Preferential tariff for Ukraine

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years North Macedonia's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨62nd to the 65th⁩ 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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Most Specialized Products by RCA Index

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North Macedonia has a high level of specialization in Reaction and Catalytic Products (161), Marble, Travertine and Alabaster (61.6), Buses (41.3), Raw Tobacco (32.4), and Lead Ore (29). Specialization is measured using RCA, an index that takes the ratio between North Macedonia observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of North Macedonia according to the product complexity index (PCI) are Wire of alloy steel except stainless steel (1.36), Machinery, non-domestic, involving heating or cooling (1.29), Parts and accessories for motor vehicles (1.13), Electronic printed circuits (1.09), and Articles of stone or other mineral substances, nes (1.08). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for North Macedonia according to the relatedness index, are Knit Sweaters (0.21), Knit Men's Suits (0.21), Locust beans, seaweed, sugar beet, cane, for food (0.21), Knit Men's Undergarments (0.21), and Non-Knit Women's Undergarments (0.2). 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.

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 it is currently specialized in.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.