The Republic of Macedonia is located in the central Balkan Peninsula in Southeast Europe. It is one of the successor states of former Yugoslavia, from which it declared independence in 1991. Ranked as the fourth "best reformatory state" out of 178 countries ranked by the World Bank in 2009, Macedonia has undergone considerable economic reform since independence. The country has developed an open economy with trade accounting for more than 90% of GDP in recent years. With a long, rich tradition in clothing and textiles, this sector is one of the largest export industries in Macedonia. The competitive advantages of the Macedonian garment and textiles industry are innumerable. An analysis by Market Intelligence-Fibre2Fashion.

Country snapshot

Official name

Republic of Macedonia




2.1 million (65% Macedonians, 25% Albanians, others)

Median age: 34.4 years

45% under 30 years

Life expectancy at birth: 74.2 years



Political System

Multi-party parliamentary democracy

Legislative: unicameral Assembly with 120 MPs with four-year terms; members are elected by popular vote from party lists based on the percentage of the overall vote the parties gain in each of six electoral districts

Executive: president elected by popular vote for a five-year term; prime minister and cabinet elected by the Assembly following legislative elections

Source: Ministry of foreign investment, Republic of Macedonia

Macroeconomic overview

GDP (purchasing power parity) (2013)

US$ 22.57 billion

GDP - real growth rate (2013)


GDP - per capita (PPP) (2012)

US$ 10,718

GDP - composition by sector (2013)

Agriculture: 10.2%

Industry: 27.5%

Services: 62.3%

Population below poverty line

30.4% (2011)

Industrial production growth rate (2013)


Stock of direct foreign investment - at home (2013)

US$ 4.695 billion

Stock of direct foreign investment - abroad (2009)

US$ 0.564 billion

Commercial bank prime lending rate (2013)


Taxes and other revenues (2013)

30.6% of GDP

Budget (2013)

US$ 3.023 billion

US$ 3.438 billion

Labour force (2013)

0.96 million

Labour force - by occupation (2013)

Agriculture: 18.8%

Industry: 27.5%

Services: 53.7%