Provitamins and vitamins market in North Macedonia

Earlier Report Observations

The market for provitamins and vitamins in North Macedonia showed considerable volatility from 2018 to 2024. It began at $2.47 million in 2018, dipped slightly the following year, and then expanded sharply to reach a peak of $3.95 million in 2020. This high point was followed by a sustained downward trend, with the market value falling to $2.17 million by 2024.

Domestic production followed a similar pattern, rising to $2.64 million in 2020 before retreating to $1.15 million in 2024. Imports also spiked to $1.36 million in the same peak year, then gradually decreased, ending the period at $1.05 million. The parallel declines in both local output and foreign supply drove the overall market contraction after 2020.

By the end of the observed period, the total market value had fallen below its 2018 starting point, completing a full cycle of growth and correction. The most significant market movements were concentrated around the 2020 peak and the subsequent multi-year decline.

Production provitamins and vitamins in North Macedonia

In value, 2017-2020, K $ US

North Macedonia's production of provitamins and vitamins has increased for the second year in a row. In 2020, output reached 2,638 thousand US dollars, showing a sharp 69.8% improvement compared to the previous year. From 2017 to 2020, production grew by 60.5%, which translates to an annualized rate of 17.1%. The lowest value was recorded in 2018 at 1,466 thousand US dollars, with the largest decline that year at 10.8%.

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

Exports provitamins and vitamins from North Macedonia

Exports in kind, kg

Deliveries of provitamins and vitamins from North Macedonia have risen for the second consecutive year. In 2020, the country exported 4,224 kilograms, reflecting a dramatic 41.3% increase over the past year. Between 2017 and 2020, exports surged by 90.8%, equating to an annualized growth rate of 24.0%. The minimum volume was recorded in 2018 at 1,854 kilograms, with the largest decline that year at 16.2%. The largest increase occurred in 2019, reaching 61.2%.

Annual dynamics of product's exports from North Macedonia in kind, 2017-2020, kg

From 2017 to 2020, Albania and Serbia together absorbed 80.4% of North Macedonia's total exports of provitamins and vitamins by volume, with the remaining share distributed among smaller markets.

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

North Macedonia's export value of provitamins and vitamins has increased for the second year in a row. In 2020, exports totaled 42 thousand US dollars, marking a strong 14.0% advance year-over-year. Over the period from 2017 to 2020, exports grew by 18.1%, with a compound annual growth rate of 5.7%. The lowest value was recorded in 2018 at 25 thousand US dollars, with the largest decline that year at 30.5%. The largest increase was in 2019, reaching 49.1%.

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

From 2017 to 2020, Serbia, Albania, and China led as the top buyers of provitamins and vitamins from North Macedonia in value terms. Serbia accounted for 46.0% of exports, Albania for 28.4%, and China for 6.7%, with their combined share reaching 81.1% of total export value.

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 provitamins and vitamins to North Macedonia

Imports in kind, kg

In 2020, North Macedonia's imports of provitamins and vitamins amounted to 84,887 kilograms, marking a 28.2% rise compared to the previous year. Between 2017 and 2020, imports increased by 58.7%, equating to an annualized rate of 16.6%. The largest decline was recorded in 2019 at 9.0%, while the largest increase occurred in 2018 at 36.0%.

Annual dynamics of product's imports to North Macedonia in kind, 2017-2020, kg

From 2017 to 2020, China, Germany, and Slovenia were the leading suppliers of provitamins and vitamins to North Macedonia by volume. China accounted for 68.4% of imports, Germany for 11.0%, and Slovenia for 7.1%, with their combined share totaling 86.5% of total import volume.

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 import value of provitamins and vitamins was recorded at 1,356 thousand US dollars, showing a steep 66.5% rise compared to the previous year. Over the period from 2017 to 2020, imports grew by 64.2%, with a compound annual growth rate of 18.0%. The lowest value was in 2019 at 815 thousand US dollars, with the largest decline that year at 20.8%.

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

Throughout 2017 to 2020, China, Germany, and the United Kingdom remained the key partners for North Macedonia's imports of provitamins and vitamins in value terms. China accounted for 49.1% of imports, Germany for 16.6%, and the United Kingdom for 9.0%, together making up 74.7% of total import 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