City in North Macedonia

North Macedonia GDP (EUR bn)

GDP rose 0.6% year on year in Q4, marking the weakest expansion in two years on the back of deteriorating domestic demand. Investment activity contracted markedly in Q4, contrasting the previous quarter’s strong growth, while private spending lost steam due to high inflation and higher interest rates. Moreover, public spending continued to shrink in the quarter, albeit at a slower pace than in Q3. On the external front, growth in exports of goods and services slowed in Q4 but remained healthy and outpaced an increase in imports; the external sector contributed positively to the overall Q4 reading. Turning to this year, economic conditions likely remain muted amid sky-high inflation in January. In other news, in early February, the European Commission recently proposed EUR 100 million in Macro-financial Assistance to cover the country’s financing needs in 2023 and 2024.

North Macedonia GDP (EUR bn) Data

2017 2018 2019 2020 2021
GDP (EUR bn) 10.0 10.7 11.3 10.6 11.7

Free sample report

Interested in economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest