North Macedonia: economy

What is the GDP growth rate of North Macedonia?

North Macedonia's GDP grew 4.3% in real terms in the second quarter of 2026 compared with the second quarter of 2025, according to estimated data from the State Statistical Office (SSO). On seasonally and calendar adjusted data, growth was 4.0%. Construction rose 21.9%, and gross capital formation grew 14.5% in nominal terms.

For the full year 2024, the SSO's definitive data give real growth of 3.8% and GDP of 1,031,678 million denars. Quarterly figures are estimates and are revised when annual data become available.

Official sources: SSO: Gross domestic product, second quarter 2026 · SSO: Gross domestic product in 2024, definitive data

What is the inflation rate in North Macedonia?

Consumer prices in North Macedonia were 2.7% higher in September 2026 than in September 2025, according to the State Statistical Office. Prices were unchanged compared with August 2026; transport fell 3.4% during the month and recreation and culture 3.7%, while food and non-alcoholic drinks rose 0.5%.

The retail price index, which covers prices of goods and services sold in retail trade, rose 1.7% over the year. The SSO publishes the consumer price index early each month for the previous month, and offers an online calculator for comparing prices between dates.

Official sources: SSO: Consumer price index and retail price index, September 2026

What is the GDP per capita of North Macedonia?

North Macedonia's GDP per person was an estimated EUR 9,310 in 2025, up from EUR 8,590 in 2024, according to Eurostat, which publishes national accounts for EU candidate countries. The State Statistical Office puts total GDP in 2024 at 1,031,678 million denars.

The Eurostat figures for 2024 and 2025 are marked as estimates. GDP per capita is total output divided by the population, so it is not a measure of household income, and comparisons with other countries are affected by price levels and exchange rates.

Official sources: Eurostat: GDP per capita (nama_10_pc) · SSO: GDP in 2024, definitive data

What does North Macedonia export and who are its main trading partners?

North Macedonia exported goods worth 353,757.0 million denars in January to August 2026, 8.81% more than a year earlier, and imported goods worth 502,607.4 million denars, up 7.99%, according to preliminary SSO data. The leading exports were supported catalysts with precious metals, and wiring sets and seat parts for vehicles.

Germany, the United Kingdom, China, Greece and Serbia together accounted for 49.7% of total trade, and EU member states for 58.5%. The largest imports included refined petroleum oils, platinum and motor cars. Monthly data are preliminary and are revised.

Official sources: SSO: External trade, January to August 2026

Is North Macedonia's economy growing?

In 2025, real GDP growth in North Macedonia was 3.5%, according to the World Bank. Its high point since 2005 was 2007, at 6.5%; its low point was 2020, at -4.7%. It is 14th highest of 49 in Europe & Central Asia, where the median is 2.1%. Worldwide: 85th of 180.

What is GDP per capita in North Macedonia?

According to the World Bank, GDP per person in North Macedonia was $10,490 in 2025. That is the highest since at least 2005. Across Europe & Central Asia the middle value was $28,420, and North Macedonia placed 38th highest of 49. World rank, highest first: 77th of 180.

How does North Macedonia's income per person compare after prices?

$28,029 in international dollars: that is GDP per person at purchasing power parity in North Macedonia for 2025, according to the World Bank. That is the highest since at least 2005. Europe & Central Asia median: $50,946 in international dollars; North Macedonia is 40th highest of 49. Worldwide: 71st of 179.

What share of North Macedonia's economy is exports?

The World Bank puts exports of goods and services in North Macedonia at 59.6% of GDP in 2025. The peak was 72.8% of GDP in 2022 and the low 32.8% of GDP in 2009. Across Europe & Central Asia the middle value was 47.7% of GDP, and North Macedonia placed 15th highest of 46. Worldwide: 28th of 133.

Does North Macedonia have a current account surplus or deficit?

The latest figure from the IMF, for 2025, is -4.3% of GDP, which is a deficit. The peak was 0.3% of GDP in 2023 and the low -12.5% of GDP in 2008. Across Europe & Central Asia the middle value was -0.3% of GDP, and North Macedonia placed 37th highest of 47. Of 132 countries with 2025 data, 99th highest.

How much foreign direct investment goes into North Macedonia?

The latest figure from the IMF, for 2025, is 3.5% of GDP. Its high point since 2005 was 2007, at 8.8% of GDP; its low point was 2020, at 0.1% of GDP. Europe & Central Asia median: 1.9% of GDP; North Macedonia is 11th highest of 49. Worldwide: 54th of 179.

What interest rate do banks charge in North Macedonia?

The latest figure from the IMF, for 2025, is 5.4%. Since 2005 it has ranged from 4.6% (2022) to 12.5% (2005). It is 12th highest of 17 in Europe & Central Asia, where the median is 8.0%. Worldwide: 61st of 73.