Located in the Balkans just to the north of Greece, the Former Yugoslav Republic of Macedonia has a population of 2.1 million, 0.5 million of whom live in the capital, Skopje. The population has been increasing by approximately 1.5% per annum. 12% of the population are aged over 65, rising to 18% by 2030. The official languages are Macedonian (spoken by 2/3s of the population) and Albanian (spoken by ¼ of the population. Approximately two thirds of the population are Orthodox and one third is Muslim. The official currency is the Denar, worth approximately €0.016. The standard rate of VAT is 18%.
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Former Yugoslav Republic of Macedonia Capital: Skopje
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Population |
2.1 million à 2.4 million (2030) Proportion of people over 65 is 12% à 18% (2030) |
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Language |
Macedonian (2/3), Albanian (1/4) |
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Religion |
66% Orthodox, 33% Muslim |
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GDP / head (2010) |
€ 8,600 (EU average: € 24,400) |
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Currency |
Denar (€0.016) |
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VAT |
18% |
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GDP growth (volume)
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3.0% 2.5% in 2012 (f) 3.5% in 2013 (f) |
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Unemployment rate (Dec 2011) |
31.8% (EU average: 10.0%) |
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Inflation rate |
2.8% (EU average: 3.1%) |
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Figures relate to 2011, except where indicated. Source: Eurostat, Searce (2012) |
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Macedonia has a GDP per capita of €8,600, compared to the EU average of €24,400 in 2010. According to the European Bank for Reconstruction & Development, the Macedonian economy grew by 3.1% in 2011, and is expected to grow by 1.8% in 2012 (compared to the Eurozone average of 1.6%, and 0.2% respectively). The inflation rate was 2.8% in 2011, compared to 3% in the EU. The unemployment rate was 31.8%, compared to 9.8% in the EU as a whole in 2011.
Business meetings are still quite formal in Macedonia and communication is quite reserved until a working relationship has developed. Business people prefer to spend time getting a good negotiation rather than worrying about deadlines. Decisions are taken by the person at the head of the company.
Searce
La Mationne
Saint Genès la Tourette
63580 France