North Macedonia sees 12.7 percent drop in economic expansion rate


(MENAFN)

The North Macedonian Statistical Office (SSO) released a report on Monday saying that the expansion rate of the gross domestic product (GDP) in the country declined 12.7 percent in Q2 of 2020.

In the period, the household final consumption, non-profit companies serving households included, reported a decline of 9.9 percent in nominal terms, and its share in the GDP structure came in at 70.6 percent.

In this period, both of the export and import of goods and services in North Macedonia declined 32 percent and 30.2 percent respectively in nominal terms.

The SSO data showed that in Q2 of 2020, a rise was seen in the sections of agriculture, forestry and fishing by 4.5 percent, as the public administration and defense, compulsory social security, education, health and social work recorded an increase of 2.2 percent along with the sections of information and communication as they recorded an increase of 0.9 percent.

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