Cocoa powder and cake market in North Macedonia

Earlier Report Observations

The market volume for cocoa powder and cake in North Macedonia, measured in tonnes, experienced a sustained contraction from 2018 to 2022, falling from 1 843 t to 1 403 t. This downward trend was interrupted in 2023 when consumption increased by 6.8% to 1 499 t.

In value terms, the market showed greater volatility, with the total value reaching 4.7 million US dollars in 2023 after fluctuating between 3.5 million and 4.2 million US dollars in prior years. The 2023 value represented a significant 20.9% increase over 2022, indicating a rise in unit prices or a shift toward higher-value products.

For 2024, global factors came into play. Supply shortages and crop diseases in West African cocoa-producing regions, combined with climate effects like El Niño, tightened global cocoa bean supplies and drove up prices. This is reflected in North Macedonia's trade data for 2024, where import value surged to 8.0 million US dollars despite a more moderate increase in import volume, pointing to higher costs per tonne.

Production cocoa powder and cake in North Macedonia

In kind, 2017-2020, t

Top producers of cocoa powder and cake, 2017-2020

World map of production of cocoa powder and cake, 2017-2020

Cocoa powder and cake production in North Macedonia has increased for the second consecutive year. In 2020, the country produced 233.5 t of cocoa powder and cake, marking a 5.1% year-over-year advance. Over the period from 2017 to 2020, production grew by 16.2%, with a compound annual growth rate of 5.1%. The lowest production level was recorded in 2018 at 192.0 t, which saw the largest decline of 4.5%. In contrast, the largest increase occurred in 2019, with a 15.7% rise.

Annual dynamics of production in North Macedonia in kind, 2017-2020, t

In value, 2017-2020, K $ US

North Macedonia's cocoa powder and cake production has risen for the second year in a row. In 2020, the output was valued at 371.5 K $ US, representing a significant 13.8% increase compared to 2019. Between 2017 and 2020, production increased by 18.5%, equating to an annualized growth rate of 5.8%. The lowest value was recorded in 2018 at 287.4 K $ US, which experienced the largest decline of 8.3%.

Annual dynamics of production in North Macedonia in value, 2017-2020, K $ US

Exports cocoa powder and cake from North Macedonia

Exports in kind, t

In 2020, foreign cocoa powder and cake supplies from North Macedonia amounted to 243 t, showing a small rise of 2.1% from the previous year. Between 2017 and 2020, exports increased by 13.1%, with an annualized growth rate of 4.2%. The highest export volume was recorded in 2018 at 267 t, which saw the largest increase of 24.2%. The largest decline occurred in 2019, with a 10.8% drop.

Annual dynamics of product's exports from North Macedonia in kind, 2017-2020, t

Throughout the period from 2017 to 2020, the partner structure for exports in kind was centered on Serbia, which accounted for 71.0% of total flows. Other markets formed a less significant portion of the export landscape.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from North Macedonia in kind, 2017-2020

Exports in value, K $ US

In 2020, cocoa powder and cake volumes leaving North Macedonia totaled 387 K $ US, up by 10.6% compared to 2019. Over the period from 2017 to 2020, exports increased by 15.4%, with a compound annual growth rate of 4.9%. The highest value was recorded in 2018 at 400 K $ US, which experienced the largest increase of 19.2%. The largest decline occurred in 2019, with a 12.4% decrease.

Annual dynamics of product's exports from North Macedonia in value, 2017-2020, K $ US

From 2017 to 2020, Serbia, Bulgaria, and Indonesia stood out as the main markets for exports in value terms. Serbia accounted for 69.7% of exports, Bulgaria for 6.8%, and Indonesia for 6.0%, together representing 82.5% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from North Macedonia in value, 2017-2020

Imports cocoa powder and cake to North Macedonia

Imports in kind, t

Cocoa powder and cake imports into North Macedonia have declined for the second consecutive year. In 2020, imports came to 1 671 t, representing a robust decrease of 10.1% year-over-year. Between 2017 and 2020, imports decreased by 4.2%, equating to an annualized decline rate of 1.4%. The highest import volume was recorded in 2018 at 1 918 t, which saw the largest increase of 10.0%.

Annual dynamics of product's imports to North Macedonia in kind, 2017-2020, t

From 2017 to 2020, Spain, Serbia, and Ghana were the main sources in the geographical breakdown of cocoa powder and cake imports in kind to North Macedonia. Spain accounted for 25.4% of imports, Serbia for 15.2%, and Ghana for 10.6%, with a combined share of 51.2% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to North Macedonia in kind, 2017-2020

Imports in value, K $ US

In 2020, North Macedonia's cocoa powder and cake import volume stood at 3 726 K $ US, which is 4.9% higher compared to 2019. Over the period from 2017 to 2020, imports increased by 3.6%, with a compound annual growth rate of 1.2%. The lowest value was recorded in 2019 at 3 554 K $ US, which experienced the largest decline of 5.5%. The highest value was recorded in 2018 at 3 759 K $ US.

Annual dynamics of product's imports to North Macedonia in value, 2017-2020, K $ US

Throughout 2017 to 2020, imports in value terms of cocoa powder and cake to North Macedonia were not heavily concentrated on a few key markets. Spain accounted for 22.3% of imports, Ghana for 14.1%, and Serbia for 13.3%, jointly representing 49.7% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to North Macedonia in value, 2017-2020