Industrial producer price indices on the domestic market, November 2010

According to the State Statistical Office data, the Industrial producer prices on the domestic market in November 2010, in comparison with November 2009, increased by 7.1%. This increase, first of all, is a result of the increased prices in Energy by 11.4%, Intermediate goods industries, except energy by

5.8%, Capital goods industries by 3.1%, Durable consumer goods industries by 7.7% and Non-durable consumer goods industries by 3.7%.

The Industrial producer price index on the domestic market in November 2010, in comparison with November 2009, in the section Mining and quarrying increased by 3.0%, in the section Manufacturing industry the price index increased by 7.3%, and in the section Electricity, gas and water supply it increased by 6.6%. In November 2010, in comparison with November 2009, the index of the prices in the group Builders' carpentry and joinery increased by 5.8%.

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Consumer Price Index Macedonia, by COICOP classification, November 2010

According to the State Statistical Office data, the Consumer Price Index, measured by prices of goods and services for personal consumption, in November 2010, in comparison with October 2010, was 100.4, while in comparison with November 2009 it was 102.9.

Analyzed by main groups of intended use, in November 2010, compared with October 2010, an increase has been registered in the groups: Miscellaneous goods and services by 0.8%, Furnishings, household equipment and routine maintenance of the house and Recreation and culture by 0.7%, Food and non-alcoholic beverages by 0.5%, Transport by 0.4%, Housing, water, electricity, gas and other fuels by 0.3%, Clothing and footwear and Restaurants and hotels by 0.2%.

A decrease of the Consumer Price Index was registered in the group Communication by 0.1%. The indices of the groups: Alcoholic beverages, tobacco, Health and Education remained at the same level as in the previous month.

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'Real' FDI Plummets in Macedonia

Whilst headline Foreign Direct Investment was largely unchanged in the first half of 2010, once re-invested profits and funds repatriated from overseas are removed from the data, the figures shows a steep decline. In the first six months of this year foreign companies and individuals spent just  €31 million on acquisitions and 'greenfield' investments. The figure from the same period in 2009 was €132 million, data from the State Statistical Office shows. Economic analysts comment that investors are deterred by the country’s political issues, which some believe affect the economy.

“Investors don’t want to risk their money in a country that has unresolved issues with its neighbours, particularly the name dispute [with Greece],” Miroljub Sukarov, an economics professor at the Tetovo-based University of South-East Europe, says. Sukarov adds that the country also needs to continue to work on easing the ethnic tension between the Macedonian majority and the Albanian minority that led to a short lived armed conflict in 2001. The tension has since lessened, but it is still evident and affects investors' calculations of the risks of entering the Macedonian market, Sukarov explained.

The Macedonian National Bank, NBM, recently revealed data showing that the total amount of FDI in the first six months of this year was  unchanged on the same period last year- some €120 million. However, experts say this figure masks the true status as a large element of the inflows this year come from local companies reinvesting profits from overseas operations or returning cash to the country after previously withdrawing funds amid last year’s crisis.

Macedonia has invested much effort in the past few years to promote itself as a desireable business destination, cutting taxes and simplifying procedures to attract investors and offering special benefits for newly opened facilities. However, despite some encouranging early signs, many companies continue to steer clear of the country, leaving Macedonia's biggest free economic zone- Binardzik near Skopje- with only two operational factories. After celebrating record FDI of some half a billion Euros in 2008, the country ended 2009 with no more than half that figure.

News source: BalkanInsight link: article

Tourism in the Republic of Macedonia, September 2010

According to the data of the State Statistical Office, the number of tourists in September 2010 was 44 923, and the number of nights spent by tourists was 106 524. The number of tourists in September 2010, compared to September 2009, increased by 3.3%, and the number of nights spent decreased by 0.4%. The number of domestic tourists in September 2010, compared to September 2009, increased by 3.5%, and the number of foreign tourists increased by 3.3%.

The number of nights spent by domestic tourists in September 2010, compared to September 2009, increased by 14.5%, and the number of nights spent by foreign tourists decreased by 9.4%. The number of tourists in the period January- September 2010, compared to the same period last year, decreased by 2.0%: the number of domestic tourists decreased by 2.8%, while that of foreign tourists decreased by 0.9%.

The number of nights spent in the period January- September 2010, compared to the same period last year, decreased by 4.7%: the number of nights spent by domestic tourists decreased by 4.4%, while those by foreign tourists decreased by 5.6%.

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Macedonian Retail Price Index and Consumer Price Index, October 2010

According to the State Statistical Office data, the Retail Price Index in October 2010, in comparison with the previous month, was 100.2, while the Consumer Price Index was 100.3.

The increase in the Consumer Price Index by 0.3% is a result of the higher indices of vegetable by 3.9%, cigarettes by 1.8%, fats by 1.6%, eggs by 1.3%, dairy products by 0.9%, fresh and sour milk by 0.6%, processed fruit and confectionery by 0.5%, other food products by 0.4%, cereal products, processed meat and fish by 0.2%.

In October, there was also an increase of the indices of other dwelling services by 2.4%, footwear by 2.0%, liquid fuels and gas by 1.7%, clothing by 1.0%, oil derivatives by 0.9%, furniture and beverages in restaurants and hotels by 0.3% and food in restaurants and hotels by 0.2%.

A decrease in the Consumer Price Index in October 2010, in comparison with the previous month, was registered in fruit by 6.0% and processed vegetable by 0.4%.

In October there was also a decrease of the indices of other means of education by 0.4%, personal care articles by 0.2% and miscellaneous services n.e.c. by 0.1%.

The Retail Price Index, in October 2010, compared with October 2009, registered an increase by 3.3%, while the Consumer Price Index increased by 2.7%.

The value of the consumer basket for food and beverages for a four-member household in October 2010, calculated on the basis of retail prices, was 12 105 denars, and in comparison with the previous month is higher by 0.6%.

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Macedonia: Estimation of the managers of the business entities in the manufacturing industry about the business situation in September 2010

According to the data of the State Statistical Office, the business situation in September 2010 according to the managers is more satisfactory compared to the previous month. The situation with the present volume of production orders is unsatisfactory compared to the previous month. The production volume of the business entities in September 2010 decreased compared to the previous month; the expectations for the production volume are slightly unfavourable for the next three months, and the expectations for the number of employees are optimistic. 

The stocks of raw materials and intermediate goods and the purchases of raw materials and intermediate goods in September 2010 are below the normal level. The stocks of finished products decreased compared to the previous month. In the next period the average purchasing prices of the inputs, as well as the average selling prices of the finished goods will decrease slightly. The average capacity utilization level of the business entities in September 2010, compared to the previous month, decreased to 60.1% of normal utilization. The factors that had the greatest influence on limiting the production volume in September 2010 were: insufficient foreign demand with 24.2%, insufficient domestic demand with 16.4%, financial problems with 13.0% and uncertainty of the economic environment with 10.4%.

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Tourism in the Republic of Macedonia August 2010

The number of tourists in August 2010, compared to August 2009, decreased by 1.4%, and the number of nights spent decreased by 8.3%. According to the data of the State Statistical Office, the number of tourists in August 2010 was 109 291, and the number of nights spent by tourists was 594 859.

The number of domestic tourists in August 2010, compared to August 2009, decreased by 5.0%, and the number of foreign tourists increased by 8.4%. The number of nights spent by domestic tourists in August 2010, compared to August 2009, decreased by 8.8%, and the number of nights spent by foreign tourists decreased by 4.4%. The number of tourists in the period January - August 2010, compared to the same period last year, decreased by 2.6%: the

number of domestic tourists decreased by 3.2%, while that of foreign tourists decreased by 1.6%. The number of nights spent in the period January - August 2010, compared to the same period last year, decreased by

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FYROM:Foreign trade exchange increased by 10%

According to the preliminary data of the State Statistical Office, the export value of goods in the Republic of Macedonia in the period January-August 2010 was 1 995 385 thousand US dollars, and the import value was 3 354 637 thousands US dollars. Import coverage by export was 59.5%. The trade deficit in the period January-August 2010 was 1 359 252 thousand US dollars.

The trade exchange according to products shows that in the exports the most significant products are iron and steel products (flat-rolled products), clothes, ferro-nickel and petroleum oil preparations. In the imports, the most significant products are the crude petroleum oils, motor vehicles for transport of persons and electricity.

In the period January-August 2010 the most important export partners were the EU-27 countries (61.1%) and the West Balkan countries (31.8%), and the most important import partners were the EU-27 countries (52.2%) and the Developing countries (29.0%). According to the total volume of international commodity trade, the most important trade partners of the Republic of Macedonia are Germany, Serbia, Greece, Russia and Italy (44.0% of the total international commodity trade).

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The number of employees in the Macedonian industry in August 2010

According to the State Statistical Office data, the index of the number of employees in industry in August 2010, in comparison with the same month of the previous year, was 98.1. The number of employees in industry in the section Mining and Quarrying in August 2010, in comparison with August 2009, decreased by 0.4%, in Manufacturing industry it decreased by 2.1% and in the section Electricity, gas and water supply it decreased by 1.0%.

In August 2010, the number of employees in industry in the Republic of Macedonia, in comparison with the average number of employees in industry in 2005, decreased by 15.4%. The index of the number of employees in industry in the Republic of Macedonia in the period January - August 2010, in comparison
with January - August 2009, was 94.1.

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Macedonian consumers optimistic about possibilities for saving over the next 12 months

According to the data of the State Statistical Office, the value of the consumer confidence indicator in September 2010 decreased by 2,7 percentage points compared to the value of the previous month.
The decrease was due to unfavourable expectations for the financial situation of the households, the economic situation of the households for the next 12 months, as well as the estimates for the unemployment.

The expectations for the probability of savings over the next 12 months were more satisfactory in September 2010 compared to the previous month. In September 2010, the expectations for the financial situation of the households for the next 12 months were unsatisfactory compared to their expectations in the previous month, as well as compared to September 2009. In September 2010, the households assessed that the general economic situation in the country in the next 12 months as well as the unemployment will be unsatisfactory compared to their assessment in August 2010.

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The number of tourists visiting Macedonia in July 2010, compared to July 2009, decreased by 0.4%, and the number of nights spent decreased by 8.8%

According to the data of the State Statistical Office, the number of tourists in July 2010 was 104 605, and the number of nights spent by tourists was 569 363.
The number of domestic tourists in July 2010, compared to July 2009, decreased by 0.3%, and the number of foreign tourists decreased by 0.7%. The number of nights spent by domestic tourists in July 2010, compared to July 2009, decreased by 9.8%, and the number of nights spent by foreign tourists decreased by 1.9%.

The number of tourists in the period January - July 2010, compared to the same period last year, decreased by 2.9%: the number of domestic tourists decreased by 2.4%, while that of foreign tourists decreased by 3.6%. The number of nights spent in the period January - July 2010, compared to the same period last year, decreased by 3.1%: the
number of nights spent by domestic tourists decreased by 2.2%, while those by foreign tourists decreased by 5.1%.

News source: State Statistical Office link: publication