macedonia map1Location: South Eastern Europe
Capital: Skopje
Population (2012): 2,082,370
Surface area: 25,713 sq km
Currency: Macedonian Denar
GDP per capita (2011): US $ 4,925
Economy – Overview At independence in September 1991, the Former Yugoslav Republic of Macedonia was the least developed of the Yugoslav republics, producing a mere 5% of the total federal output of goods and services. Since then, FYROM has maintained macroeconomic stability with low inflation, but it has so far lagged the region in attracting foreign investment and creating jobs, despite making extensive fiscal and business sector reforms. Official unemployment remains high at 31.7%, but may be overstated based on the existence of an extensive gray market, estimated to be more than 20% of GDP that is not captured by official statistics. In the wake of the global economic downturn, FYROM has experienced decreased foreign direct investment, lowered credit, and a large trade deficit. However, as a result of a sound financial system, in 2010 the country received slightly improved credit ratings. Macroeconomic stability also was maintained by a prudent monetary policy, which kept the domestic currency at the pegged level against the euro, while interest rates were falling. As a result, GDP growth was modest, but positive, in 2010.
Human Development Index ranking (2012): 78 out of 186
Net Official Development Assistance (2011): US $ 193 million
Top three donors of Gross Official Development Assistance: EU Institutions, the United States, Japan
FDI inflows (2012): $ 135million
Total External Debt (2011): $ 6.3 billion
External debt stock (% of GNI) (2011): 62.8
Merchandise exports (2011): US$ 4,455 million
Terms of trade index (2012): 88.3
Major export commodities: Reaction initiators, reaction accelerators and catalytic preparations; ferro-alloys; petroleum oil
Cost to export per container (2013): US $ 1,376
HIPC Position (2012): Not eligible
United Nations Membership date: 8 April 1993
New York Mission:
Address: Permanent Mission of the former Yugoslav Republic
of Macedonia to the United Nations
866 United Nations Plaza, Suite 517, New York, N.Y. 10017
Telephone: (212) 308-8504, -8723
Telefax: (212) 308-8724
Correspondence: English
National holiday: 2 August