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Economic Chamber of Macedonia

bsi. ISO years
9001
1922 - 2016
Quality
Management

СТОПАНСКА КОМОРА НА МАКЕДОНИЈАFS549642

Osnovana 1922

ECONOMIC CHAMBER OF MACEDONIA

Founded 1922

BASIC METALS INDUSTRY IS OF FUNDAMENTAL
IMPORTANCE IN NATIONAL, NEIGHBORING COUNTRIES’
ECONOMIES

The global economic crisis and market disruptions resulted in a series of problems.
Nevertheless, in the long term, the basic metals industry has continued to act as a central
industry in the economy of Macedonia, and has played a crucial role in the creation of
the country’s gross domestic product. Basic metals continue to dominate the Republic of
Macedonia’s gross exports.

The Economic Chamber of
Macedonia commissioned
a study that analyzes the
economic impact and the
development potential of the
basic metals industry, which
was carried out by Mitko
Kocovski PhD and Darko
Lazarov PhD. The study is a
detailed presentation of the
basic metals industry’s direct
and indirect influence in the
GDP and in national exports
through the creation of
jobs, providing wages for the
sector’s employees, payment
of taxes and implementation
of policies for corporate social responsibility. Quantifications presented in the study show that
the basic metals industry had a 5.73 % share in the GDP in 2007 and a 1.36 % share in 2014.
However, the industry’s relative share was considerably higher i.e. 33.53 % in 2007 and 7.56 %
in 2014. The relative share of the basic metals industry in the value of total exports was 31.5
% in 2007 and 13 % in 2014. Companies working in the basic metals industry employ about
6500 people. However, the metallurgy sector creates another 20,000 jobs in various industries,
and encourages production at additional levels (via the supply chain and by prompting
consumption), thereby boosting its GDP share by another 18.27 % (Source: Economic Impact
Analysis and Study on the Steel Industry Development in RM).

Despite the macroeconomic parameters and the multiplier effects on the national economy
as a whole, the metallurgy sector has not been given its well-deserved place in the economic
policies and measures adopted at state level. The Chamber’s investigation has revealed

88 July-August 2016