Country Profile: Macedonia
Other CitiesBerovo, Bitola, Kratovo, Ohrid, Dojran, Struga, Tetovo, Resen
AreaTotal 25,713 km2
Population2009 estimate 2,114,550
Macedonia or the Republic of Macedonia is a small country located in central southeast Europe. It was once part of present day Yugoslavia and became its own country in 1991, in 1993 Macedonia became a member of the United Nations and this further cemented their status as an independent nation.
Business and Economics
Since gaining their independence, Macedonia has undergone tremendous economic reforms initiated by the government which have stimulated their economy and ranked it within the top five in the world, in terms of economic reform policy according to the World Bank. These successful reforms have raised the GDP in Macedonia, while at the same time lowering the tax rates, in order to attract foreign investment. This had a particular impact on the trade industry in Macedonia, where textiles, iron, steel, wine and vegetables are their most important exports.
Environment and Tourism
Macedonia has a vast amount of natural resources, mainly iron, steel and agricultural resources make up the country's natural wealth. Agriculture is a significant part of their economy and makes up for more than half of the workforce, with vegetables being the main agricultural export. Because of the natural beauty of Macedonia, their tourism industry has taken off as well, growing rapidly due to direct foreign investment and tax incentives initiated by the government.
Energy and Resources
As a small country, Macedonia imports most of its oil and fuel needs, mainly from Russia and a small amount from Africa. This has led the Macedonian government to undergo extensive research into renewable resources, such as wind, solar and hydroelectric. Macedonia aims to have 25% of its energy requirements coming from renewable resources by 2020. They believe this goal can be obtained by government funding and support and perhaps foreign investment opportunities as well.
Macedonia is a relatively new country in one sense, but they have an old and unique culture that will continue to grow and expand over the years. As a nation, they look to expand their tourism industry as well as their agricultural and exportation industries as well. Furthermore, Macedonia looks to become a European leader in renewable energy production, specifically wind, solar and hydroelectric.
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