The Gross Domestic Product (GDP) in Macedonia was worth 15.76 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Macedonia represents 0.01 percent of the world economy. This dataset provides the latest reported value for - Macedonia GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The gross domestic product (GDP) in current prices in North Macedonia was forecast to continuously increase between 2024 and 2029 by in total 5.9 billion U.S. dollars (+37.2 percent). After the seventh consecutive increasing year, the GDP is estimated to reach 21.79 billion U.S. dollars and therefore a new peak in 2029. This indicator describes the gross domestic product at current prices, consistent with the definition given by the International Monetary Fund. This means that the values are based upon the GDP in national currency converted to U.S. dollars using market exchange rates (yearly average). The GDP represents the total value of final goods and services produced during a year.Find more key insights for the gross domestic product (GDP) in current prices in countries like Serbia, Montenegro, and Bosnia & Herzegovina.

Contains data from the World Bank's data portal. There is also a consolidated country dataset on HDX.

Economic growth is central to economic development. When national income grows, real people benefit. While there is no known formula for stimulating economic growth, data can help policy-makers better understand their countries' economic situations and guide any work toward improvement. Data here covers measures of economic growth, such as gross domestic product (GDP) and gross national income (GNI). It also includes indicators representing factors known to be relevant to economic growth, such as capital stock, employment, investment, savings, consumption, government spending, imports, and exports.

This statistic shows the share of economic sectors in the gross domestic product (GDP) in North Macedonia from 2013 to 2023. In 2023, the share of agriculture in North Macedonia's gross domestic product was 6.68 percent, industry contributed approximately 23.26 percent and the services sector contributed about 57.21 percent.

The Gross Domestic Product (GDP) in Macedonia expanded 0.80 percent in the fourth quarter of 2024 over the previous quarter. This dataset provides - Macedonia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Contains data from the World Bank's data portal covering the following topics which also exist as individual datasets on HDX: Agriculture and Rural Development, Aid Effectiveness, Economy and Growth, Education, Energy and Mining, Environment, Financial Sector, Health, Infrastructure, Social Protection and Labor, Poverty, Private Sector, Public Sector, Science and Technology, Social Development, Urban Development, Gender, Climate Change, External Debt, Trade.

The growth of the real gross domestic product (GDP) in North Macedonia was forecast to increase between 2024 and 2029 by in total 1.3 percentage points. This overall increase does not happen continuously, notably not in 2027, 2028 and 2029. The growth is estimated to amount to 3.5 percent in 2029. This indicator describes the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.Find more key insights for the growth of the real gross domestic product (GDP) in countries like Cyprus, Bulgaria, and Turkey.

Macedonia MK: Exports: Goods: by Reporting Economy data was reported at 4.787 USD bn in 2016. This records an increase from the previous number of 4.580 USD bn for 2015. Macedonia MK: Exports: Goods: by Reporting Economy data is updated yearly, averaging 1.701 USD bn from Dec 1993 (Median) to 2016, with 24 observations. The data reached an all-time high of 5.042 USD bn in 2014 and a record low of 1.055 USD bn in 1993. Macedonia MK: Exports: Goods: by Reporting Economy data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Macedonia – Table MK.World Bank.WDI: Exports. Merchandise exports by the reporting economy are the total merchandise exports by the reporting economy to the rest of the world, as reported in the IMF's Direction of trade database. Data are in current US$.; ; World Bank staff estimates based data from International Monetary Fund's Direction of Trade database.; Sum;

North Macedonia: Economic globalization index (0-100): The latest value from 2022 is 68.91 points, a decline from 69 points in 2021. In comparison, the world average is 59.16 points, based on data from 184 countries. Historically, the average for North Macedonia from 1991 to 2022 is 57.31 points. The minimum value, 31.8 points, was reached in 1994 while the maximum of 71.3 points was recorded in 2017.

Key information about North Macedonia Labour Productivity Growth

• North Macedonia Labour Productivity dropped by 1.27 % YoY in Dec 2024, compared with a growth of 2.13 % in the previous quarter
• North Macedonia Labour Productivity Growth data is updated quarterly, available from Mar 2005 to Dec 2024, averaging at 0.93 %
• The data reached an all-time high of 19.35 % in Jun 2022 and a record low of -15.32 % in Jun 2020

CEIC calculates quarterly Labour Productivity Growth from quarterly Real GDP and quarterly Employment. The State Statistical Office of the Republic of North Macedonia provides Real GDP in local currency, at 2005 prices and Employment based on new methodology. Labour Productivity Growth prior to Q1 2023 is calculated from Employment based on old methodology

Exports in Macedonia increased to 599282 USD Thousand in January from 592507 USD Thousand in December of 2024. This dataset provides the latest reported value for - Macedonia Exports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2019, the number of enterprises in the total business economy, repair of computers, personal and household goods, except financial and insurance activities in North Macedonia remained nearly unchanged at around 58,765 enterprises. Nevertheless, 2019 still represents a peak in the number of enterprises in this industry in North Macedonia. Only active units which either had turnover or employment at any time during the reference period should be included.

Industrial Production in Macedonia increased 1.40 percent in January of 2025 over the same month in the previous year. This dataset provides - Macedonia Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic shows the distribution of employment in North Macedonia by economic sector from 2012 to 2022. In 2022, 9.7 percent of the employees in North Macedonia were active in the agricultural sector, 30.4 percent in industry and 59.9 percent in the service sector.

Key information about North Macedonia National Government Debt

• North Macedonia National Government Debt reached 8.6 USD bn in Dec 2024, compared with 8.5 USD bn in the previous quarter.
• North Macedonia National Government Debt data is updated quarterly, available from Dec 2009 to Dec 2024.
• The data reached an all-time high of 8.6 USD bn in Dec 2024 and a record low of 2.0 USD bn in Jun 2010.

CEIC converts quarterly Government Debt into USD. The Ministry of Finance of the Republic of North Macedonia provides Government Debt in EUR. The Federal Reserve Board period end market exchange rate is used for currency conversions. Government Debt covers Central Government only.


Related information about North Macedonia National Government Debt

• In the latest reports, North Macedonia Consolidated Fiscal Balance recorded a deficit equal to 4.5 % of its Nominal GDP in Dec 2022.
• The country's Government debt accounted for 50.4 % of its Nominal GDP in Sep 2024.
• North Macedonia Nominal GDP reached 3.5 USD bn in Mar 2023.

This statistic shows the total number of enterprises in the non-financial business economy in North Macedonia in 2016, by size class of employment. In 2016, there were 150 enterprises with 250 employees or more in North Macedonia.

Macedonia MK: GDP: % of GDP: Gross Value Added: Industry: Manufacturing data was reported at 11.816 % in 2017. This records a decrease from the previous number of 12.192 % for 2016. Macedonia MK: GDP: % of GDP: Gross Value Added: Industry: Manufacturing data is updated yearly, averaging 11.181 % from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 31.543 % in 1990 and a record low of 7.685 % in 2004. Macedonia MK: GDP: % of GDP: Gross Value Added: Industry: Manufacturing data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Macedonia – Table MK.World Bank: Gross Domestic Product: Share of GDP. Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Note: For VAB countries, gross value added at factor cost is used as the denominator.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average; Note: Data for OECD countries are based on ISIC, revision 4.

Key information about North Macedonia Private Debt: % of Nominal GDP

• North Macedonia Private Debt accounted for 51.28 % of its Nominal GDP in Dec 2024, compared with a ratio of 49.85 % in the previous quarter
• North Macedonia Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Mar 2003 to Dec 2024, with an average share of 47.11 %
• The data reached an all-time high of 53.25 % in Mar 2021 and a record low of 15.04 % in Mar 2003

CEIC calculates quarterly Private Debt as % of Nominal GDP from monthly Private Debt and quarterly Nominal GDP. Private Debt is calculated as the sum of Loans to Non Financial Corporations, Households and NPISHs. The National Bank of the Republic of North Macedonia provides Private Debt in local currency. The State Statistical Office of the Republic of North Macedonia provides Nominal GDP in local currency.

Key information about North Macedonia GDP Per Capita

• North Macedonia Gross Domestic Product (GDP) per Capita reached 5,975.851 USD in Dec 2020, compared with 6,072.160 USD in Dec 2019.
• North Macedonia GDP Per Capita data is updated yearly, available from Dec 1994 to Dec 2020, with an average number of 4,076.166 USD.
• The data reached an all-time high of 6,107.122 USD in Dec 2018 and a record low of 1,729.019 in Dec 1994.
• CEIC calculates GDP per Capita from annual Nominal GDP and annual Population and converts it into USD. The State Statistical Office of the Republic of North Macedonia provides Nominal GDP in local currency based on ESA 2010 and Population. The National Bank of the Republic of North Macedonia average market exchange rate is used for currency conversions. GDP per Capita prior to 2000 is based on ESA 1995.

Related information about North Macedonia GDP Per Capita data

• In the latest reports, North Macedonia GDP expanded 1.954 % YoY in Sep 2022.
• North Macedonia Nominal GDP reached 3.308 USD bn in Sep 2022.
• Its GDP deflator (implicit price deflator) increased 9.399 % in Sep 2022.
• Gross Savings Rate of North Macedonia was measured at 13.404 % in Sep 2022.

Macedonia MK: GDP: % of GDP: Gross Capital Formation data was reported at 31.634 % in 2017. This records a decrease from the previous number of 32.590 % for 2016. Macedonia MK: GDP: % of GDP: Gross Capital Formation data is updated yearly, averaging 21.227 % from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 32.590 % in 2016 and a record low of 15.466 % in 1994. Macedonia MK: GDP: % of GDP: Gross Capital Formation data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Macedonia – Table MK.World Bank.WDI: Gross Domestic Product: Share of GDP. Gross capital formation (formerly gross domestic investment) consists of outlays on additions to the fixed assets of the economy plus net changes in the level of inventories. Fixed assets include land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment purchases; and the construction of roads, railways, and the like, including schools, offices, hospitals, private residential dwellings, and commercial and industrial buildings. Inventories are stocks of goods held by firms to meet temporary or unexpected fluctuations in production or sales, and 'work in progress.' According to the 1993 SNA, net acquisitions of valuables are also considered capital formation.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;