Market Research In Macedonia

Macedonia Profile:

  • Macedonia, officially the Republic of Macedonia is a country in the Balkan Peninsula in Southeast Europe.
  • Being one of the poorest countries in Europe, Macedonia has made significant progress in developing an open, market-based economy.
  • Macedonia is a member of the UN and of the Council of Europe. Since 2005 it has also been a candidate for joining the European Union and has applied for NATO membership.
  • Macedonia was ranked as the fourth “best reformatory state” out of 178 countries ranked by the World Bank in 2009, ranked 12 out of 189 in Ease of doing business index 2016.
  • Government’s policies and efforts in regards to foreign direct investments have resulted in the establishment of local subsidiaries of several worlds leading manufacturing companies, especially from the automotive industry

Macedonia Economy:

  • Macedonia’s economy is closely linked to Europe as a customer for exports and source of investment and has suffered as a result of prolonged weakness in the eurozone.
  • In 2016, public debt reached 50.5% of GDP before being revised down to 47.8% of GDP by year’s end
  • Unemployment has remained consistently high at about 23%, but may be overstated based on the existence of an extensive gray market, estimated to be between 20% and 45% of GDP, which is not captured by official statistics.
  • Macedonia maintained macroeconomic stability through the global financial crisis by conducting prudent monetary policy, which keeps the domestic currency pegged to the euro and inflation at a low level.
  • However, in the last two years, the internal political crisis has hampered economic performance, with GDP slowing in 2016 and both domestic private and public investments declining.

Macedonia Facts:

  • Population: 2.1 million
  • Capital: Skopje
  • Largest city: Skopje
  • Area: 25,713 sq km
  • Major language: Macedonian (official) 66.5%, Albanian 25.1%, Turkish 3.5%, Romani 1.9%, Serbian 1.2%, other 1.8%
  • Major religion: Macedonian Orthodox 64.8%, Muslim 33.3%, other Christian 0.4%, other and unspecified 1.5%
  • Life expectancy: 73.8 years (Male), 79.2 years (Female)
  • Monetary unit: 1 Denar (MKD) = 100 Denies
  • Main exports: Foodstuffs, beverages, tobacco; textiles, miscellaneous manufactures, iron, steel; automotive parts
  • GNI per Capita: $14,480

Our Market Research Services in Macedonia:

We Employ A Wide Range of Research Techniques in Macedonia:

How Can We Help You?

Contact us at Global Vox Populi and submit a business inquiry online.

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