Macedonia's trade deficit in the months of January through May 2008 increased by 100 percent on the same period of last year, reaching a new high of 1.15 billion U.S. dollars, the country's statistics office said Thursday.
Macedonia posted a trade deficit of 0.55 billion dollars in the first five months of 2007.
Figures from Macedonia's State Statistics Office show that Macedonia's total trade volume in the first five months of 2008 reached 4.51 billion dollars, of which exports account for 1.68 billion dollars, while imports stand at 2.83 billion.
Macedonia's export goods include ferro-nickel, iron, steel and clothes, while the imports are fuel, electricity and motor vehicles.
The EU member states account for 60 percent of Macedonia's exports, and the Western Balkans 34.6 percent. Of Macedonia's imports, 46.5 percent came from EU member countries, and 32.2 percent from developing countries.
Serbia, Germany, Russia, Greece and Bulgaria are Macedonia's most important trade partners. They represent more than 50 percent of Macedonia's total foreign trade.
Source:Xinhua
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