Market Information

Rapidly Growing Market

The Republic of North Macedonia is a rapidly growing market.

North Macedonia is a signatory of three multilateral Free Trade Agreements:

  • SAA (Stabilization and Association Agreement) with the EU member-states;
  • EFTA (Switzerland, Norway, Iceland and Liechtenstein) and
  • CEFTA (North Macedonia, Albania, Moldova, Serbia, Montenegro, Bosnia and Herzegovina and Kosovo).

In addition to the multilateral, North Macedonia has also signed two bilateral Free Trade Agreements with the following countries:

  • Bilateral Free Trade Agreement with Turkey and
  • Bilateral Free Trade Agreement with Ukraine

These agreements give North Macedonia duty free access to more than 650 million consumers. North Macedonia has also been a member of the World Trade Organization (WTO) since 2003.

According to the State Statistical Office’s preliminary data, the total value of exported goods from the Republic of North Macedonia in the period January-December 2019 amounted to 395 093 849 thousand denars, an increase of 9.6% compared to the same period last year. Imported goods were worth 520 529 015 thousand denars in the same period, or 10.3% more than last year’s same period.

The trade deficit was 125 435 166 thousand denars in the period January-December 2019.

Import coverage by export in the period January- December 2019 was 75.9%.

The external trade by products shows that in the exports the most significant products are provided by catalysts with precious metal or precious metal compounds such as active substance, ignition wiring sets and other wiring sets of a kind used in vehicles, aircraft or ships, parts of the seats of subgroup 821.1 and ferro-nickel.

The most important items in the imports are platinum and platinum alloys, unwrought or powdered, other metals of the platinum group and alloys thereof, unwrought or in powder form, petroleum oils and oils obtained from bituminous minerals (other than crude) and ceramic wares for laboratory, chemical or other technical uses.

According to the total amount of foreign trade in the period January-December 2019, the Republic of North Macedonia’s most important trading partners were Germany, Great Britain, Greece, Serbia and Italy.

External trade expressed in Euros and US dollars

The total value of the goods exported from the Republic of North Macedonia, expressed in Euros in the period January-December 2019 amounted to 6 423 703 thousand Euros, a 9.6% increase compared to the same period last year, while the value of imported goods in the same period was 8 463 171 thousand Euros, or 10.3% more than the same period last year. The trade deficit in the period January- December 2019 was 2 039 468 thousand Euros.

In the period January-December 2019, the total value of exported goods from the Republic of North Macedonia amounted to 7 187 566 thousand US dollars, an increase of 4.0% compared to the same period last year, while the value of imported goods in the same period was 9 470 289 thousand US dollars, or 4.6% more than the same period last year. The trade deficit was 2 282 723 thousand US dollars in the period January-December 2019.

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