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Companies operating in Europe are increasingly interested in Macedonia as a sourcing country. The trend of rising imports costs from countries in East Asia, Central and Eastern Europe are making companies from Western Europe turn their sights towards the Western Balkans. The metal-machining and electrical engineering sectors in North Macedonia are undergoing fast-paced development, making local companies suitable suppliers for foreign buyers. Macedonia’s companies are especially competitive in low to medium production series and quick delivery time.
In the past 10 years many German companies have invested heavily in production facilities in North Macedonia. Most of North Macedonian’s exporting companies do business with German companies. 90% of all exporting companies from North Macedonia use sophisticated production equipment, implementing all the requested quality standards and following latest trends in production and quality assurance. North Macedonian’s economic policies, supply chains and geographical position make it a very attractive Foreign Direct Investment destination.
In 2018 annual exports reached 1.45 billion € with 6,8 % annual national export growth rate, 17% annual industry export growth rate, 19% industry share of nation’s exports and 4,61 % industry share of nation’s GDP. In 2018 the gross average salary is 500€.
According to the Trading Economic, North Macedonian exports of Electrical, electronic equipment during 2018was US$1.02 Billion.
*Official data are gathered by the one pager called “Macedonia Manufacturing Expo”, 25-26 September 2019), and official web link – Trading Economics.