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MACEDONIA AT 63 PLACE OF THE LIST OF DOING BUSINESS BY FORBES

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Macedonia is ranked 63th in world list of Best Countries for Business,which publishes the American magazine Forbes. This is a decline of 28 positions compared to last year's ranking when Macedonia was on the 35th position in the world. This year as the best country for doing business is the UK placed first out of 153 countries. American magazine measured 15 different factors of business development, as taxes, personal and economic liberty, bureaucracy, property rights, innovation, corruption, technology, trade and monetary freedom and the protection of investors. The second best country for doing business is New Zealand, the Netherlands third, Sweden's fourth and fifth Canada. At the very bottom of the list 150th place is Afghanistan, Haiti is 151st place, Gambia 152nd and Chad 153th place. In the region, the best ranked is Slovenia at 32nd position, Croatia is ranked 51st place, Montenegro on 68th place, Serbia at 69th, Albania 71st, Bosnia and Herzegovina on 97th place.

Insignificant growth of the Gross Domestic Product (GDP) in the third quarter of 2017 of 0.2%.

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According to the estimated data, the growth rate of the Gross Domestic Product (GDP) in the third quarter of 2017 was 0.2%.

In this quarter, the biggest increase was recorded in sections: G, H and I - Wholesale and retail trade; repair of motor vehicles and motorcycles; Transportation and storage; Accommodation and food service activities by 9.8%; A - Agriculture, forestry and fishing by 3.8% and L - Real estate activities by 0.9%.

 In the third quarter of 2017, Household final consumption, including Non-profit institutions serving households, increased by  5.0% in nominal terms, and its share in the GDP structure was 65.5%.

In the same period, Export of goods and services increased by 9.8% in nominal terms, while Import of goods and services  increased by 5.0%.

 

Manufacturing industry index grew by 2.1% compared to last year!

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According to the State Statistical Office data, the industrial production volume index in October 2017, in comparison with October 2016, was 101.3.

The industrial production in the section Mining and quarrying in October 2017, in comparison with October 2016, decreased by 10.6%, in the section Manufacturing it increased by 2.1%, while in the section Electricity, gas, steam and air conditioning supply it increased by 6.5%.

The increase in the section Manufacturing is mostly due to increased production in the divisions Manufacture of tobacco products, Manufacture of basic pharmaceutical products and pharmaceutical preparations, Manufacture of rubber and plastic products, Manufacture of other non-metallic mineral products, Manufacture of fabricated metal products, except machinery and equipment, Manufacture of electrical equipment, Manufacture of machinery and equipment n.e.c. and Manufacture of motor vehicles, trailers and semi-trailers.

The industrial production by Main Industrial Groupings in October 2017, in comparison with October 2016, was higher in Energy by 4.0% and Capital goods by 15.4%, but lower in Intermediate goods, except energy by 2.8%, Durable consumer goods by 9.4% and Non-durable consumer goods by 3.1%. The industrial production index in the period January - October 2017, in comparison with January - October 2016, was 100.1.

Macedonia on the 11th place according to Doing Business Report 2018!

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This year marks the 15th Doing Business Report. Since the project began in 2003, the global business regulatory environment has changed dramatically. Governments around the world have embraced and nurtured by advances in information technology to reduce bureaucratic obstacles and increase transparency.

Trends in Internet use by Businesses!

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According to the State Statistical Office of Republic of Macedonia, as of January 2017, 91.2% of the enterprises with 10 or more employees had broadband connection to Internet (via fixed or mobile broadband connection). Access to Internet via a portable device using mobile telephone network (3G/4G) was used by 63.0% of the enterprises. The mobile Internet connection (via portable devices: notebook, laptop, smartphone, PDA phone, etc.), for business purposes, was used by 14.5% of the employees.

More than half 54.2% of the enterprises used social media (e.g. Facebook, LinkedIn, Twitter, Present.ly, YouTube, Flickr, Picassa, Wiki-tools, etc.), i.e. had a user profile, an account or a user license for using certain social media. Around 49% of the enterprises have website/homepage, of which 80% listed  their goods or services and price lists on the website.  59% had links or references to their social media profiles, and 21% provided online ordering or reservation or booking. During 2016, 10.3% of enterprises with 10 or more employees had e-commerce, i.e. buying or selling goods or services over computer networks (via websites or EDI-type systems), 6.0% of enterprises had e-sales, and 5.8% of enterprises had e-purchases.

 

China in the Focus: 19th Congress in the spotlight!

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The 19th National Congress of the Communist Party of China kicks off today Beijing and promises to be the single biggest event this year. This makes it a true paradigm shift – an important change that happens when the usual way of thinking about or doing something is replaced by a new and different way. That's exactly what this Congress will be and it's the reason why it is of historic significance for each and every one of us and for the global economy.

Competitivness at the spotlight!

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The Global Competitiveness Index is a framework and a corresponding set of indicators in three principal categories and twelve policy domains for 137 economies. It measures the relative competitiveness of national economies.

The newest Global Competitiveness report for 2017-2018 implies that ten years on from the global financial crisis, the prospects for a sustained economic recovery remain at risk due to a widespread failure on the part of leaders and policy-makers to put in place reforms necessary to underpin competitiveness and bring about much-needed increases in productivity.

Switzerland, the United States and Singapore remain the three world’s most competitive economies, followed by Netherlands, Germany and Hong Kong SAR.

Ranked 68th in the past year, Macedonia did not participate in this year rankings as data were unreliable. The most competitive neighboring economies:

  1. Slovenia – 48th place
  2. Bulgaria – 49th place
  3. Romania – 68th place
  4. Croatia – 74th place
  5. Albania – 75th place

 

  1. Exports of goods is on the rise in 2017!
  2. Significiant increase of the gross domestic product in 2016
  3. Industrial production dropped by 5.3% in one year!

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