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2021
Economic Complexity
Technology -1.36Rank 87 of 96
2022
Economic Complexity
Research -0.091Rank 65 of 140
2023
Product
Exports | Imports $10.1B | $12.4B104 of 226 |  107 of 226
2023
Per Capita Product
Exports | Imports $5.55k | $6.78k58 of 220 |  40 of 220

About

Overview In 2023 North Macedonia was the number 104 economy in the world in terms of total exports and the number 107 in total imports.

Exports The top exports of North Macedonia are Reaction and Catalytic Products ($2.78B), Insulated Wire ($701M), Electricity ($614M), Seats ($375M), and Buses ($321M), exporting mostly to Germany ($4B), Serbia ($827M), Bulgaria ($566M), Greece ($542M), and Czechia ($344M).

Imports The top imports of North Macedonia are Platinum ($1.21B), Refined Petroleum ($878M), Laboratory Ceramic Ware ($407M), Cars ($361M), and Petroleum Gas ($313M), importing mostly from United Kingdom ($1.52B), Germany ($1.25B), Greece ($1.11B), China ($1.06B), and Serbia ($932M).

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 (2023)Reaction and Catalytic Products$2.78B
Top Destination (2023)Germany$4B

In 2023, North Macedonia exported a total of $10.1B, making it the number 104 exporter in the world. During the last five reported years the exports of North Macedonia have changed by $2.21B from $7.94B in 2018 to $10.1B in 2023.

The most recent exports are led by Reaction and Catalytic Products ($2.78B), Insulated Wire ($701M), Electricity ($614M), Seats ($375M), and Buses ($321M). The most common destination for the exports of North Macedonia are Germany ($4B), Serbia ($827M), Bulgaria ($566M), Greece ($542M), and Czechia ($344M).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
Bulgaria$108M (+ 23.5%)
Czechia$92M (+ 36.6%)
United States$79.7M (+ 41.2%)
Fastest Growing Import Markets (2022 - 2023)
Germany$152M (+ 13.9%)
United States$76.7M (+ 42.5%)
China$71.3M (+ 7.21%)

Total Export Growth by Market (2022 - 2023)

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 (Technology)-1.36Rank 87 of 96
Economic Complexity (Research)-0.091Rank 65 of 140

Most Specialized Products by RCA Index

North Macedonia has a high level of specialization in Reaction and Catalytic Products (230), Marble, Travertine and Alabaster (51.3), Buses (36), Lead Ore (35.1), and Raw Tobacco (27). 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 Men's Suits (0.21), Knit Men's Coats (0.21), Other Knit Garments (0.21), Melons (0.21), and Non-Knit Men's Undergarments (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 (2023)

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

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