Macedonia's GDP expands by 0.2 pct in Q4 of 2012

Macedonia
# 16 March 2013 02:45 (UTC +04:00)

Baku-APA. A 0.2-percent growth of the Gross Domestic Product (GDP) was recorded in Macedonia in the last quarter of 2012, the State Statistical Office said on Friday, APA reports quoting Xinhua.

Notable increase of 10.6 percent in the fourth quarter was registered in the sectors of construction and 5.2-percent rise in hotels and restaurants.

The final consumption of households, including non-profit institutions serving the households, rose nominally by 1.2 percent compared to the same period in 2011. Its participation in the GDP structure is 70.7 percent.

The export of goods and services dropped by 0.5 percent and import of goods and services expanded by 6 pecent.

GDP expanded 0.2 percent in the third quarter of 2012 as well following a drop of 0.9 and 1.4 percent in the second and first quarter respectively. Annually, GDP rate in 2012 was -0.3 percent.

Deputy PM and Finance Minister Zoran Stavreski said on Friday that it was realistic to expect that data for the final quarter and the whole year would be approximately 0 percent. "The year was concluded with a similar projection because Europe's economy experienced a negative growth, which in the final quarter of 2012 was 0.6 percent"

"Considering the expectations for the European economy, we also expect more positive movements in the economy to be registered in the second half of 2013," he noted.

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