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North Macedonia

Republika Severna Makedonija

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated

revenues

$4.787 billion (2023 est.)

expenditures

$5.514 billion (2023 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$10.123 billion (2022 est.)

Exports 2023

$10.691 billion (2023 est.)

Exports 2024

$10.445 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$13.009 billion (2022 est.)

Imports 2023

$12.748 billion (2023 est.)

Imports 2024

$12.644 billion (2024 est.)

Industries

food processing, beverages, textiles, chemicals, iron, steel, cement, energy, pharmaceuticals, automotive parts

Labor force

779,200 (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: official data from Ministry of Finance; data cover central government debt; this data excludes debt instruments issued (or owned) by government entities other than the treasury; includes treasury debt held by foreign entitites; excludes debt issued by sub-national entities; there are no debt instruments sold for social funds

Public debt 2017

39.3% of GDP (2017 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

3.3% of GDP (2022 est.)

Remittances 2023

2.9% of GDP (2023 est.)

Remittances 2024

2.7% of GDP (2024 est.)

Exchange rates

Currency

Macedonian denars (MKD) per US dollar -

Exchange rates 2020

54.144 (2020 est.)

Exchange rates 2021

52.102 (2021 est.)

Exchange rates 2022

58.574 (2022 est.)

Exchange rates 2023

56.947 (2023 est.)

Exchange rates 2024

56.873 (2024 est.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$5.637 billion (2023 est.)

Economic overview

upper-middle-income European economy; GDP growth driven by private consumption, public infrastructure investments, and wage growth; stalled progress on EU accession; public debt rising due to high pensions, wages, and interest payments; structural challenges of emigration, low productivity growth, and governance

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

14.5% (2022 est.)

Unemployment rate 2023

13.2% (2023 est.)

Unemployment rate 2024

13.5% (2024 est.)

Exports - partners

Germany 39%, Serbia 8%, Bulgaria 6%, Greece 5%, Czechia 3% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

UK 12%, Germany 10%, Greece 9%, China 9%, Serbia 8% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$22,800 (2022 est.)

Real GDP per capita 2023

$23,300 (2023 est.)

Real GDP per capita 2024

$24,500 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

2.8% (2022 est.)

Real GDP growth rate 2023

2.1% (2023 est.)

Real GDP growth rate 2024

2.8% (2024 est.)

Agricultural products

chillies/peppers, milk, wheat, potatoes, grapes, barley, cabbages, maize, watermelons, tomatoes (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

reaction and catalytic products, insulated wire, electricity, garments, seats (2023)

note: top five export commodities based on value in dollars

Imports - commodities

platinum, refined petroleum, laboratory ceramic ware, cars, natural gas (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$868.965 million (2022 est.)

Current account balance 2023

$56.573 million (2023 est.)

Current account balance 2024

-$374.385 million (2024 est.)

Taxes and other revenues

17.9% (of GDP) (2023 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$16.685 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

67.9% (2024 est.)

government consumption

16.8% (2024 est.)

investment in inventories

0% (2024 est.)

investment in fixed capital

28.4% (2024 est.)

exports of goods and services

62.7% (2024 est.)

imports of goods and services

-75.8% (2024 est.)

Population below poverty line

21.8% (2019 est.)

note: % of population with income below national poverty line

Average household expenditures

on food

30.6% of household expenditures (2023 est.)

on alcohol and tobacco

4.8% of household expenditures (2023 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

14.2% (2022 est.)

Inflation rate (consumer prices) 2023

9.4% (2023 est.)

Inflation rate (consumer prices) 2024

3.5% (2024 est.)

Industrial production growth rate

1.8% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$41.801 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$42.668 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$43.844 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

29.2% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

30.3% (2024 est.)

female

32.3% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$4.12 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$5.015 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$5.252 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

22.7% (2024 est.)

services

59.2% (2024 est.)

agriculture

6% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

1.9% (2019 est.)

highest 10%

22.9% (2019 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2019

33.5 (2019 est.)