● Each country is a unique chapter in the BOOK OF HUMANITY, written in the sweat and blood of people whose PAGES will now remain forever ● 每个国家都是《人类之书》中独特的一章，由人们的汗水与鲜血写就，而他们的篇章如今将永世留存 ● Каждая страна — уникальная глава КНИГИ ЧЕЛОВЕЧЕСТВА, написанная потом и кровью людей, чьи СТРАНИЦЫ теперь будут оставаться навсегда ●

    North Macedonia - Economy
    Flag
    How is the economy of North Macedonia? Based on the information we have, North Macedonia has a <p>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</p>. Key agricultural products in this country include: chillies/peppers, milk, wheat, potatoes, grapes, barley, cabbages, maize, watermelons, tomatoes (2023).
    More about the economy of North Macedonia
    Labor force 779,200 (2024 est.)
    Industrial production growth rate 1.8% (2024 est.)
    Industries food processing, beverages, textiles, chemicals, iron, steel, cement, energy, pharmaceuticals, automotive parts
    Population below poverty line 21.8% (2019 est.)
    Taxes and other revenues 17.9% (of GDP) (2023 est.)
    Fiscal year N/A
    Exchange rates
    CurrencyMacedonian denars (MKD) per US dollar -
    Exchange rates 202456.873 (2024 est.)
    Exchange rates 202356.947 (2023 est.)
    Exchange rates 202258.574 (2022 est.)
    Exchange rates 202152.102 (2021 est.)
    Exchange rates 202054.144 (2020 est.)
    Debt - external
    Debt - external 2023$5.637 billion (2023 est.)
    Reserves of foreign exchange and gold
    Reserves of foreign exchange and gold 2024$5.252 billion (2024 est.)
    Reserves of foreign exchange and gold 2023$5.015 billion (2023 est.)
    Reserves of foreign exchange and gold 2022$4.12 billion (2022 est.)
    Current account balance
    Current account balance 2024-$374.385 million (2024 est.)
    Current account balance 2023$56.573 million (2023 est.)
    Current account balance 2022-$868.965 million (2022 est.)
    Public debt
    Public debt 201739.3% of GDP (2017 est.)
    Budget
    Revenues$4.787 billion (2023 est.)
    Expenditures$5.514 billion (2023 est.)
    Budget surplus (+) or deficit (-) N/A
    Remittances
    Remittances 20242.7% of GDP (2024 est.)
    Remittances 20232.9% of GDP (2023 est.)
    Remittances 20223.3% of GDP (2022 est.)
    Household income
    Lowest 10%1.9% (2019 est.)
    Highest 10%22.9% (2019 est.)
    Average household expenditures
    On food30.6% of household expenditures (2023 est.)
    On alcohol and tobacco4.8% of household expenditures (2023 est.)
    Imports
    Imports 2024$12.644 billion (2024 est.)
    Imports 2023$12.748 billion (2023 est.)
    Imports 2022$13.009 billion (2022 est.)
    Imports (partners)UK 12%, Germany 10%, Greece 9%, China 9%, Serbia 8% (2023)
    Comodities Imports forceplatinum, refined petroleum, laboratory ceramic ware, cars, natural gas (2023)
    Exports
    Exports 2024$10.445 billion (2024 est.)
    Exports 2023$10.691 billion (2023 est.)
    Exports 2022$10.123 billion (2022 est.)
    Exports (partners)Germany 39%, Serbia 8%, Bulgaria 6%, Greece 5%, Czechia 3% (2023)
    Comodities Exports forcereaction and catalytic products, insulated wire, electricity, garments, seats (2023)
    Real GDP (purchasing power parity)
    Real GDP (purchasing power parity) 2024$43.844 billion (2024 est.)
    Real GDP (purchasing power parity) 2023$42.668 billion (2023 est.)
    Real GDP (purchasing power parity) 2022$41.801 billion (2022 est.)
    GDP (official exchange rate)$16.685 billion (2024 est.)
    Real GDP Per capita
    Real GDP per capita 2024$24,500 (2024 est.)
    Real GDP per capita 2023$23,300 (2023 est.)
    Real GDP per capita 2022$22,800 (2022 est.)
    GDP - composition, by sector of origin
    Agriculture6% (2024 est.)
    Industry22.7% (2024 est.)
    Services59.2% (2024 est.)
    GDP - composition, by end use
    Household consumption67.9% (2024 est.)
    Government consumption16.8% (2024 est.)
    Investment in fixed capital28.4% (2024 est.)
    Investment in inventories0% (2024 est.)
    Exports of goods and services62.7% (2024 est.)
    Imports of goods and services-75.8% (2024 est.)
    Unemployment rate
    Unemployment rate 202413.5% (2024 est.)
    Unemployment rate 202313.2% (2023 est.)
    Unemployment rate 202214.5% (2022 est.)
    Youth unemployment rate (ages 15-24)
    Total30.3% (2024 est.)
    Male29.2% (2024 est.)
    Female32.3% (2024 est.)
    All Important Facts about North Macedonia

    Want to know more about North Macedonia? Check all different factbooks for North Macedonia below.

    North Macedonia is found in Southeast Europe