Macedonia Balanza Comercial

North Macedonia’s trade deficit widened to $388 million in December 2024 from $329 million in the corresponding month of the previous year. Exports shrank 17.5% year-on-year to $592.5 million, while imports declined at a much softer pace of 6.3% to $980.9 million. Considering the whole period of 2024, exports decreased 6.4% compared to the same period a year earlier to $8,425.3 million, weighed down by lower sales of mineral fuels, lubricants and related materials (-21.2%) and chemicals and related products, n.e.s. (-20.1%). Meanwhile, imports declined at a slower 0.7% to $11,969.6 million, primarily due to reduced purchases of crude materials, inedible, except fuels (-11.%), mineral fuels, lubricants and related materials (-10.2%), and chemicals and related products, n.e.s. (-4.1%). However, purchases accelerated for beverages and tobacco (16.4%), animal and vegetable oils, fats and waxes (11.7%), and machinery and transport equipment (8.5%).