The covid-19 impact on exports in North Macedonia—firm-level analysis. Issue 1 (9th April 2022)

• Record Type: Journal Article
• Authors: Srbinoski, Bojan; Petreski, Blagica; Petreski, Marjan
• Is Part Of: Ekonomska istraživanja. Volume 35:Issue 1(2022)
• Page Start: 7147
• Page End: 7174
• Publication Date: 2022-04-09
• Subjects: COVID-19 -- export -- firm-level analysis; D22 -- F10 -- L60; Economics -- Research -- Periodicals; Economics -- Research; Electronic journals; 330.072
• DOI: 10.1080/1331677X.2022.2063918
• Languages: English
• ISSNs: 1331-677X

Abstract

Abstract: Exports experienced extraordinary growth rates during the last decade in North Macedonia capturing above 50% share of the country's GDP. However, the COVID-19 crisis interrupted the positive export series imposing various constraints in multiple dimensions on export-oriented firms. This study explores the multidimensionality of the COVID-19 impact on exporters in North Macedonia. We find that COVID-19 caused a systematic slowdown in the exporters' revenue, profit, investment, capital, employment and salaries growth rates. Moreover, the limited access to finance, import exposure to EU markets, high labour-intensity, export exposure to non-EU markets and lower competitiveness make exporters less resilient to the pandemic shocks representing the main obstacles exporters are/will be facing in the recovery stage.