Macedonia GDP Annual Growth Rate

Last Release

Dec 31, 2023

Actual

0.9

Units In

2.1

Frequency

Quarterly

Next Release

Mar 03, 2026

Time to Release

2 Months 25 Days 13 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 expanded 3.8% year-on-year in the third quarter of 2025, the fastest pace since Q4 2024, accelerating from an upwardly revised 3.5% growth in Q2. The acceleration was mainly driven by a surge in gross fixed capital formation, which accounts for 31.1% of GDP, jumping 30.6% (vs 5.4% in Q2). Government spending also contributed, rising 5.7% (vs 3.5%). In contrast, household consumption slowed to 0.9% growth (vs 3.1%). External trade weighed on the expansion, with exports rising 3.4% (vs 8.5%) while imports climbed 9.9% (vs 8.1%). On a seasonally adjusted quarterly basis, GDP increased 0.8% in Q3, moderating from a revised 1.1% growth in Q2.