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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
MacedoniaMacedonia Balance of Trade fell to -439M in April 2026
FMPMonthlyReleased June 2026
Macedonia Balance of Trade fell to -439M in April 2026, released June 2026, down 243M from March's -196M reading. The reading missed the -300M consensus by 139M. The print is running well below the 12-month average of -319.33M. Over the past 3 months, Balance of Trade averaged -307.5M, vs -299.67M in the prior 3-month window. Balance of Trade is now the lowest in 31 months.
Latest Release
-439
Actual
-300
Consensus
-196
Previous
Median Absolute Error
±58.46 million
across last 12 releases
Last Call
Jun 2026
Predicted: -300
Actual: -439
Error: +139
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| GBP/USD | ▼ Inverse | −0.42 | FOREX | Bearish GBP | → View |
| XAU/USD | ▼ Inverse | −0.38 | COMMODITIES | Bearish XAU | → View |
| EUR/USD | ▼ Inverse | −0.29 | FOREX | Bearish EUR | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Balance of Trade (Macedonia) was reported at -439.00 million in June 2026. This missed the market consensus of -300.00 million by 139.00 million. The reading fell from the previous value of -196.00 million. Trailing 12-month context per ETL data through June 2026. Over the past 12 months, the indicator has averaged -343.00 million, ranging from -439.00 million to -295.00 million across 9 releases.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged -347.67 million, down from the prior three at -328.67 million. Volatility over the past year (σ 48.26 million) is comparable than the prior year (σ 48.35 million). In June readings over the past 3 years, Balance of Trade has averaged -360.37 million.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with GBP/USD (Bearish GBP). A secondary relationship exists with XAU/USD, negatively correlated (Bearish XAU). Over the last 12 releases, the Sigmacast model's median absolute error is 58.46 million.
WHAT TO WATCH NEXT
The next release is scheduled for July 6, 2026.
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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Balance of Trade - MK
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About Balance of Trade — Macedonia
DEFINITION
The Balance of Trade is a financial indicator that measures the difference between a country's exports and imports of goods and services. It is an important measure of a country's economic health and can indicate whether a country is running a trade surplus or deficit. A positive balance of trade indicates that a country is exporting more than it is importing, while a negative balance of trade suggests the opposite. This indicator is closely monitored by economists and policymakers as it can impact a country's currency value, inflation, and overall economic growth.
WHY THIS INDICATOR MATTERS
Trade-balance and tariff data inform exchange-rate fundamentals and feed directly into GDP via the net-exports channel. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2026): actual -439 M, consensus -300 M. Prior reading (Mar 2026): -193 M. Before that (Feb 2026): -422 M.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with GBP/USD (Bearish GBP, r=-0.42) — a useful reference for forex-focused traders.