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GDP down 12.7 pct in Q2 of 2020: statistics

The growth rate of North Macedonia's Gross Domestic Product (GDP) in the second quarter of 2020 was -12.7%, State Statistical Office data shows. 

Skopje, 7 September 2020 (MIA) – The growth rate of North Macedonia’s Gross Domestic Product (GDP) in the second quarter of 2020 was -12.7%, State Statistical Office data shows.

In this quarter, increase was recorded in sections:  Agriculture, forestry and fishing by 4.5 %; Public administration and defence; Compulsory social security; Education; Human health and social work activities by 2.2 % and Information and communication by 0.9 %.

In the second quarter of 2020, Household final consumption, including Non-profit institutions serving households, decreased by 9.9 % in nominal terms, and its share in the GDP structure was 70.6%.

In the same period, Export of goods and services decreased by 32.0 % in nominal terms, while Import of goods and services decreased by 30.2 %.

Before the start of the coronacrisis, North Macedonia’s GDP saw a 0.2% increase in Q1 of 2020.

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