North Macedonia: Terms of trade

* indicates monthly or quarterly data series
 North Macedonia

Terms of trade, base year = 2000

 Latest value 87.86
 Year 2021
 Measure percent
 Data availability 2000 - 2021
 Average 96.50
 Min - Max 87.86 - 102.63
 Source The United Nations
The latest value from 2021 is 87.86 percent, a decline from 96.45 percent in 2020. In comparison, the world average is 109.62 percent, based on data from 189 countries. Historically, the average for North Macedonia from 2000 to 2021 is 96.5 percent. The minimum value, 87.86 percent, was reached in 2021 while the maximum of 102.63 percent was recorded in 2000. See the global rankings or world map for that indicator or use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series


Recent data
North Macedonia - Terms of trade - Recent values chart

Historical series
North Macedonia - Terms of trade - historical chart - 2000-2021




The terms of trade for North Macedonia are calculated as the value of its exports as percent of the value of its imports. An increase in the terms of trade means that the value of exports is increasing relative to the value of imports. The country can afford to buy more imports with the revenue from its exports. For example, an increase in the price of oil increases (improves) the terms of trade for the oil-exporting countries and lowers it for the other countries.
Definition: Net barter terms of trade index is calculated as the percentage ratio of the export unit value indexes to the import unit value indexes, measured relative to the base year 2015.

Selected articles from our guide:

Are trade deficits bad for the economy?

Sources of economic growth

Currency values and investment returns

How to write an economics research paper

All articles



 Related indicators Latest Reference Measure
 Terms of trade 87.86 2021 percent
 Trade openness 148.67 2023 percent
 Financial openness -0.042 2021 index points
 Exports, percent of GDP 67.82 2023 percent
 Exports, billion dollars 10.69 2023 billion U.S. dollars
 Growth of exports -0.13 2023 percent
 Imports, percent of GDP 86.31 2023 percent
 Imports, billion dollars 12.75 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 4.76 2023 percent
 Foreign Direct Investment, billion dollars 0.64 2023 billion U.S. dollars
 Portfolio investment inflows, equities -0.38 2023 million dollars (current)
 Current account, percent of GDP -6.74 2022 percent
 Current account, in dollars 0.06 2023 billion U.S. dollars
 Trade balance, percent of GDP -13.51 2023 percent
 Trade balance, in dollars -2.06 2023 billion U.S. dollars
 Reserves 5.01 2023 billion U.S. dollars
 Remittances, percent of GDP 3.13 2023 percent
 Remittances 462.42 2023 million U.S. dollars
 Net errors and omissions 52.03 2023 million USD
 External debt 89.26 2022 percent
 Short-term external debt 25.03 2023 percent
 Short-term debt to reserves 62.96 2023 percent
 Foreign exchange reserves 4.79 3/2025 billion
This site uses cookies.
Learn more here


OK