Commodities - North Macedonia

North Macedonia

The nominal value in the Commodities market is projected to reach US$16.55bn in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 4.40% resulting in a projected total amount of US$20.53bn by 2029.
The average price per contract in the Commodities market amounts to US$0.02 in 2024.
From a global comparison perspective it is shown that the highest nominal value is reached in the United States (US$53,690.00bn in 2024).
In the Commodities market, the number of contracts is expected to amount to 1,047.00k by 2029.

Market

Region

Region comparison

Currency

Analyst Opinion

The Commodities market in North Macedonia has been experiencing a notable increase in trading activity and market participation in recent years.

Customer preferences: Traders and investors in North Macedonia have shown a growing interest in Commodities as a financial asset class. The appeal of diversification, potential for high returns, and hedging against inflation are driving factors behind this trend.

Trends in the market: The Commodities market in North Macedonia has witnessed a surge in the trading of various financial derivatives such as futures and options. This increasing trend is attributed to the globalization of financial markets, advancements in technology, and the ease of access to trading platforms.

Local special circumstances: North Macedonia's strategic location at the crossroads of Europe, the Middle East, and Asia has positioned it as a favorable market for Commodities trading. The country's stable economic environment, regulatory framework, and growing investor confidence have also contributed to the development of the Commodities market.

Underlying macroeconomic factors: The macroeconomic landscape in North Macedonia, including factors such as GDP growth, inflation rates, and interest rates, plays a significant role in shaping the Commodities market. Stable economic growth, low inflation, and accommodative monetary policies have created a conducive environment for investors looking to participate in Commodities trading.

Methodology

Data coverage:

Figures are based on commodity derivatives, their notional value, the number of contracts traded, the open interest (outstanding contracts at the end of a year), and the average value of a contract.

Modeling approach / Market size:

Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use market research & analysis, and data of World Bank, as well as the World Federation of Exchanges. Furthermore, we use relevant key market indicators and data from country-specific associations and national data bureaus such as GDP, wealth per capita, and the online banking penetration rate. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. In this market, we use the HOLT-damped Trend method to forecast future development. The main drivers are GDP per capita an the online banking penetration rate.

Additional Notes:

The market is updated twice per year in case market dynamics change.