North Macedonia

The North Macedonian economy grew by 2.3% year on year in 2018 on the back of strong export growth and a pick-up in private consumption. The approval by the Greek Parliament of the new official name of North Macedonia was a major positive political development. Improved political stability will boost investor confidence and promote robust investment growth. Overall GDP will grow by about 3% p.a. during 2019-2021.

map North Macedonia
Main Economic Indicators201620172018201920202021
Population, 1000 persons207220752095...
GDP, real change in %
GDP per capita (EUR at PPP)108001080011200...
Gross industrial production, real change in %
Unemployment rate - LFS, in %, average23.722.420.720.020.019.0
Average gross monthly wages, EUR533547579...
Consumer prices, % p.a.-
Fiscal balance in % of GDP-2.7-2.8-2.0...
Public debt in % of GDP48.747.746.8...
Current account in % of GDP-2.9-1.0-0.3-1.1-2.4-3.0
FDI inflow, EUR mn495351560...
Gross external debt in % of GDP74.773.673.7...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


NORTH MACEDONIA: Solving name dispute to boost investor confidence

Olga Pindyuk
in: Moving Into the Slow Lane
wiiw Forecast Report No. Spring 2019, March 2019 , pp. 116-118
Details and Buy


Monthly Report No. 6/2018

Vasily Astrov, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Peter Havlik, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 6, June 2018
27 pages including 1 Table and 1 Figure