Macedonia: Economy stagnates in first Quarter

Skopje - Economy stagnates in first Quarter . The "growth" rate of the Gross Domestic Product (GDP) in Macedonia in the first quarter of 2018 was 0.1 percent, Macedonian State Statistical Office (SSO) published on Thursday.

According to the SSO data, in the first quarter of 2018, the biggest increase by 12.1 percent was recorded in the sections of arts, entertainment and recreation, in the section of other service activities such as households as employers, in undifferentiated goods-and services-producing activities of households for own use.

An increase by 10.5 percent was recorded in the sections of wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, accommodation and food service activities.

Meanwhile, the sections of professional, scientific and technical activities, as well as administrative and support service activities increased by 8.5 percent during the first quarter of 2018.

SSO refers that in the first quarter of 2018, household final consumption, including non-profit institutions serving households, increased by 4.0 percent in nominal terms, and its share in the GDP structure was 64.3 percent.

During the first quarter of 2018 export of goods and services in Macedonia increased by 10.4 percent in nominal terms, whereas import of goods and services increased by 9.1 percent.


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