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NORTH MACEDONIA
Economy

Cities in NORTH MACEDONIA

Skopje

Economy

General

After the break-up of Yugoslavia in 1991, NorthMacedonia lost important traditional markets. In addition, the country suffered directly from the international trade boycott against Serbia, the Kosovo crisis and the economic blockade of Greece because of its name.

In the second half of the 1990s, the transition to a market economy began, but it is still very difficult. Nevertheless, there were some successes with reforms, including the privatisation of state-owned companies and the consolidation of public finances.

After the presidential elections of November 1999, the pace of reform accelerated, stimulated by the international donor community. Relationships with the World Bank and IMF were re-established and a three-year strategic economic programme directed major structural reforms.

Investors are still deterred by the instability of the entire region and its complex legislation.

In 2017, the economy grew by 0%. The number of unemployed in 2017 was about 22.4% of the labour force and 21.5% of the population lives below the poverty line.

Agriculture and animal husbandry

The agricultural sector focuses mainly on the cultivation of tobacco, fruit, cereals, cotton and wine grapes. With 12,000 hectares of vineyards, Tikves is the largest wine-growing area in North Macedonia. Every year about 85,000 tons of grapes are harvested here.

More than one million hectares are used for agriculture and cattle breeding. About half of it is used as arable land, the other half as pasture land. Cattle and goats are kept in the higher regions. The main crops are wheat, rye, maize, sugar beet, rice, poppy and cotton. The main export products are grapes and raw tobacco. It is remarkable that opium is cultivated on a small scale for pharmaceutical purposes.

Mining and industry

The main source of income is mining and industry. NorthMacedonia produces lignite, iron, copper, lead, chromium, antimony (silver-white, brittle and brittle crystalline solid with poor electrical but good thermal conductivity) and molybdenum (grey transition metal used mainly in alloys), among other things.

Important sectors for the economy are the metal processing industry, the textile industry and the chemical industry.


Sources

Detrez, R. / Macedoniƫ : mensen, politiek, economie, cultuur, milieu
Koninklijk Instituut voor de Tropen

Evans, T. / Macedonia
Bradt Travel Guides

Zuid-Europa
The Reader's Digest

CIA - World Factbook

BBC - Country Profiles

Last updated May 2024
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