Macedonia's GDP grew by 3.9 percent in second quarter, unemployment dropped to 28.8%

September 18, 2013

Macedonian Gross Domestic Product (GDP) grew by 3.9 percent in second quarter of 2013th, according to data released by Macedonian State Statistical Office on Monday.

Increase in second quarter exceeded initial expectations and it is now the third highest increase in Europe, after Litvije and Latvia. Macedonia’s GDP in first quarter increased by 2.9 percent, making it then the fourth highest growth rate in Europe.

“It is pleasure to know that Macedonia has managed to record solid growth in period when the EU and the eurozone are in crisis still.” said Macedonian Prime Minister Nikola Gruevski on Monday.

“The increase of GDP caused decline in unemployment rate to 28.8 percent, and descended down from psychological barrier of 30 percent in this period. Growth has stabilized exports and also improved other areas of industrial production.” Gruevski said.

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Unemployment in Macedonia continue to decline. In the second quarter of this year the rate dropped to 28.8%, which is three percent less than the same period last year, announced today ststistika state. This is the lowest unemployment in the country since 1996, when the actually measured this data.

The data for the drop in unemployment comes just days after the publication of the results for GDP in the second quarter of this year. The economy grew by 3.9%, which is the third best performer in Europe. According to statistics, the most vulnerable category of unemployed in the country are young people under the age of 24 years. Over half of them are out of work, but there is a decrease of three percent compared to last year.

According educational attainment is most unemployed people in the group have completed secondary school. Over 111,000 people in this category require work, which is about 8,000 less until last year. Unemployment in the country is decreasing continuously from last year in the first quarter for the first time dropped below the psychological threshold of 30% and amounted to 28.8%. Record unemployment statistics measure in 2006 by nearly 38%.