Macedonia's trade deficit hits $1.6 billion

Macedonia's foreign trade balance marked a $1.6 billion deficit from January to November 2007, according to latest data released by State Statistical Office.

The State Statistical Office said the deficit soared 36.4 percent comparing with the same period in 2006.

The widening deficit was prompted by the increase in overall commodity international trade scope, Statistical Office said.

The volume of commodities exchange stands at $7.7 billion. The country's imports comprise $3.04 billion and exports comprise $4.6 billion. Exports' share stands at 40 percent and imports make up 60 percent. Export-import coverage totals 65.4%.

As regards the overall commodity international trade scope, the trade deficit accounts 20.9% in 2007, comparing to 21% in the same period in 2006.