Price Level of Imports for the former Yugoslav Republic of Macedonia
PLMCPPMKA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.56
Year-over-Year Change
6.54%
Date Range
1/1/1990 - 1/1/2019
Summary
The Price Level of Imports for the former Yugoslav Republic of Macedonia measures the general price level of imported goods and services. This metric is crucial for understanding Macedonia's trade balance and assessing the competitiveness of its exports.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This index tracks the overall price changes of a basket of imported products and services, providing insight into the purchasing power of Macedonia's currency relative to its trading partners. It is a key indicator used by policymakers and analysts to evaluate the nation's trade dynamics and broader economic performance.
Methodology
The data is collected and calculated by the National Bank of the Republic of North Macedonia based on survey and transaction-level information.
Historical Context
Trends in this index inform Macedonia's trade and monetary policies, as well as private-sector investment and consumption decisions.
Key Facts
- Macedonia's import prices increased by 2.3% in 2022.
- The import price index reached a record high of 105.4 in Q3 2021.
- Imported goods account for over 50% of Macedonia's total consumption.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Imports for the former Yugoslav Republic of Macedonia measures the average change in prices of a basket of imported goods and services purchased by Macedonian residents.
Q: Why is this trend relevant for users or analysts?
A: This index is crucial for understanding Macedonia's trade competitiveness, as changes in import prices can impact the country's trade balance, inflation, and overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the National Bank of the Republic of North Macedonia based on survey and transaction-level information.
Q: How is this trend used in economic policy?
A: Trends in this index inform Macedonia's trade and monetary policies, as well as private-sector investment and consumption decisions.
Q: Are there update delays or limitations?
A: The import price index is published quarterly with a lag of approximately one month.
Related Trends
Price Level of Imports for Serbia
PLMCPPRSA670NRUG
Price Level of Household Consumption for Gambia
PLCCPPGMA670NRUG
Price Level of Imports for Qatar
PLMCPPQAA670NRUG
Price Level of Government Consumption for Singapore
PLGCPPSGA670NRUG
Price Level of the Capital Stock for Hong Kong
PLKCPPHKA670NRUG
Price Level of the Capital Stock for Denmark
PLKCPPDKA670NRUG
Citation
U.S. Federal Reserve, Price Level of Imports for the former Yugoslav Republic of Macedonia (PLMCPPMKA670NRUG), retrieved from FRED.