July 1996)
embassy: Ilindenska BB, 9100 Skopje
mailing address: American Embassy Skopje, Department of State,
Washington, DC 20521-7120 (pouch)
telephone : [389] (91) 116-180
FAX: [389] (91) 117-103

Flag description: a rising yellow sun with 8 rays extending to the
edges of the red field

Economy

Economy - overview: The Former Yugoslav Republic of Macedonia,
although the poorest republic in the former Yugoslav federation, can
meet basic food and energy needs through its own agricultural and coal
resources. The economy slowly rebounded in 1996 after years of
recession. Continued recovery depends on Macedonia's ability to
redevelop trade ties with Greece and Serbia and Montenegro; as well as
on Skopje's continued commitment to economic liberalization. The
economy depends on outside sources for all of its oil and gas and most
of its modern machinery and parts. An important supplement of GDP is
the remittances from thousands of Macedonians working in Germany and
other West European nations.

GDP: purchasing power parity - $2 billion (1996 est.)

GDP - real growth rate: 1.1% (1996 est.)

GDP - per capita: purchasing power parity - $960 (1996 est.)

GDP - composition by sector:
agriculture: 24%
industry: 44%
services : 32%

Inflation rate - consumer price index: 5% (1996 est.)

Labor force:
total: 591,773 (June 1994)
by occupation: manufacturing and mining 40% (1992)

Unemployment rate: 38% (1996 est.); note - many employed workers are,
in fact, furloughees

Budget:
revenues : $1.06 billion
expenditures: $1 billion, including capital expenditures of $NA (1996
est.)

Industries: coal, metallic chromium, lead, zinc, ferronickel,
textiles, wood products, tobacco

Industrial production growth rate: 3.4% (1996 est.)

Electricity - capacity: 1.38 million kW (1994)

Electricity - production: 5.22 billion kWh (1994)

Electricity - consumption per capita: 2,408 kWh (1995 est.)

Agriculture - products: rice, tobacco, wheat, corn, millet, cotton,
sesame, mulberry leaves, citrus, vegetables; beef, pork, poultry,
mutton

Exports:
total value: $900 million (1996 est.)
commodities: food, beverage, tobacco 17.0%, machinery and transport
equipment 13.3%, other manufactured goods 58%
partners : Bulgaria, other former Yugoslav republics, Germany, Italy

Imports:
total value: $1.4 billion (1996 est.)
commodities: machinery and equipment 19%, chemicals 14%, fuels 12%
partners: other former Yugoslav republics,