N. Macedonia GDP contracts in Q3

Figures

Photo by Feng Yu / Shutterstock.com

North Macedoniaʼs gross domestic product shrank 3.3% year-on-year in the third quarter of 2020, easing from an upwardly record contraction of 14.9% in the previous period, data from the Skopje-based State Statistical Office show. 

Household consumption fell 4.1% annually in Q3, while gross capital formation grew 4.2%.

In addition, government expenditure advanced 13.5% and foreign demand contributed positively to GDP growth, as exports fell 8.4% while imports went down 2.4%. 

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