nd
energy needs through its own agricultural and coal resources. Its
economic decline will continue unless ties are reforged or enlarged
with its neighbors Serbia and Montenegro, Albania, Greece, and
Bulgaria. The economy depends on outside sources for all of its oil
and gas and its modern machinery and parts. Continued political
turmoil, both internally and in the region as a whole, prevents any
swift readjustments of trade patterns and economic programs. The
country's industrial output and GDP are expected to decline further in
1994. The Former Yugoslav Republic of Macedonia's geographical
isolation, technological backwardness, and potential political
instability place it far down the list of countries of interest to
Western investors. Resolution of the dispute with Greece and an
internal commitment to economic reform would help to encourage foreign
investment over the long run. In the immediate future, the worst
scenario for the economy would be the spread of fighting across its
borders.
National product:
GDP - purchasing power equivalent - $2.2 billion (1993 est.)
National product real growth rate:
-14.7% (1992 est.)
National product per capita:
$1,000 (1993 est.)
Inflation rate (consumer prices):
13% monthly average (1993 est.)
Unemployment rate:
27% (1993 est.)
Budget:
revenues:
$NA
expenditures:
$NA, including capital expenditures of $NA
Exports:
$889 million (1993)
commodities:
manufactured goods 40%, machinery and transport equipment 14%,
miscellaneous manufactured articles 23%, raw materials 7.6%, food
(rice) and live animals 5.7%, beverages and tobacco 4.5%, chemicals
4.7% (1990)
partners:
principally Serbia and Montenegro and the other former Yugoslav
republics, Germany, Greece, Albania
Imports:
$963 million (1993)
commodities:
fuels and lubricants 19%, manufactured goods 18%, machinery and
transport equipment 15%, food and live animals 14%, chemicals 11.4%,
raw materials 10%, miscellaneous manufactured articles 8.0%, beverages
and tobacco 3.5% (1990)
partners:
other former Yugoslav republics, Greece, Albania, Germany, Bulgaria
External debt:
$840 million (1992)
Industrial production:
growth rate -14% (1993 est.)
Electricity:
capacity:
1,600,000 kW
production:
6.3 billion kWh
consumption per capita:
2,900 kWh (1992)
Industries:
low levels of technology predominate, such as, oil refining by
distil