Macedonia - Income

The US Central Intelligence Agency (CIA) reports that in 2002 Macedonia's gross domestic product (GDP) was estimated at $10 billion. The per capita GDP was estimated at $5,000. The annual growth rate of GDP was estimated at 3.8%. The average inflation rate in 2002 was 4%. The CIA defines GDP as the value of all final goods and services produced within a nation in a given year and computed on the basis of purchasing power parity (PPP) rather than value as measured on the basis of the rate of exchange. It was estimated that agriculture accounted for 11% of GDP, industry 31%, and services 58%.

According to the United Nations, in 2000 remittances from citizens working abroad totaled $80.49 million or about $40 per capita and accounted for approximately 2.4% of GDP. Worker remittances in 2001 totaled $68.1 million. Foreign aid receipts amounted to about $121 per capita and accounted for approximately 7% of the gross national income (GNI).

The World Bank reports that in 2001 per capita household consumption (in constant 1995 US dollars) was $1,819. Household consumption includes expenditures of individuals, households, and nongovernmental organizations on goods and services, excluding purchases of dwellings. It was estimated that for the same period private consumption declined at an annual rate of 7%. Approximately 33% of household consumption was spent on food, 15% on fuel, 6% on health care, and 9% on education. It was estimated that in 2001 about 24% of the population had incomes below the poverty line.