Macedonia GDP Annual Growth Rate

Last Release

Dec 31, 2023

Actual

0.9

Units In

2.1

Frequency

Quarterly

Next Release

Sep 04, 2025

Time to Release

2 Months 30 Days 1 Hours

Highest	Lowest	Average	Date Range	Source
13.4 Jun 2021	-14.9 Jun 2020	2.42 %	2001-2023	State Statistical Office of the Republic of Macedonia

On the expenditure side, household consumption is the main component of GDP and accounts for 70 percent of its total use, followed by gross fixed capital formation (31 percent) and government expenditure (17 percent). Exports of goods and services account for 48 percent while imports account for 65 percent, subtracting 17 percent of total GDP.

Latest Updates

North Macedonia’s economy grew by 3.0% year-on-year in the first quarter of 2025, easing slightly from a 3.2% expansion in the previous quarter. The moderation in GDP growth was mainly due to weaker increases in government spending (1.1% vs 6.8% in Q4 2024) and gross capital formation (18.0% vs 21.5%). In contrast, the slowdown was partially offset by stronger growth in household consumption (2.1% vs 0.2%), which accounts for 69.0% of GDP. On the external side, exports rebounded (1.2% vs -6.0%), while imports grew at a faster pace (5.8% vs 1.5%). On a seasonally adjusted quarterly basis, GDP grew by 0.6% in Q1, easing from a 0.8% expansion in the previous quarter.