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. source: State Statistical Office of the Republic of Macedonia

The Gross Domestic Product (GDP) in Macedonia expanded 3.80 percent in the third quarter of 2025 over the same quarter of the previous year. GDP Annual Growth Rate in Macedonia averaged 2.62 percent from 2001 until 2025, reaching an all time high of 15.40 percent in the second quarter of 2021 and a record low of -15.40 percent in the second quarter of 2020. This page provides - Macedonia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. North Macedonia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2026.

The Gross Domestic Product (GDP) in Macedonia expanded 3.80 percent in the third quarter of 2025 over the same quarter of the previous year. GDP Annual Growth Rate in Macedonia is expected to be 2.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the North Macedonia GDP Annual Growth Rate is projected to trend around 3.30 percent in 2027 and 3.10 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-09-04 11:00 AM
GDP Growth Rate YoY
Q2 3.4% 3% 2.7%
2025-12-05 11:00 AM
GDP Growth Rate YoY
Q3 3.8% 3.5% 3%
2026-03-03 11:00 AM
GDP Growth Rate YoY
Q4 3.8% 3.2%


Related Last Previous Unit Reference
GDP Growth Rate YoY 3.80 3.50 percent Sep 2025
GDP Current Prices 272630.00 251572.00 MKD Million Sep 2025
GDP Growth Rate 0.80 1.10 percent Sep 2025
Gross Fixed Capital Formation 226482.00 222677.00 MKD Million Dec 2024


North Macedonia GDP Annual Growth Rate
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.
Actual Previous Highest Lowest Dates Unit Frequency
3.80 3.50 15.40 -15.40 2001 - 2025 percent Quarterly

News Stream
North Macedonia Q3 GDP Growth Hits Yearly Peak
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.
2025-12-05
North Macedonia GDP Growth Hits 3-Year High
North Macedonia’s economy grew 3.4% year-on-year in the second quarter of 2025, the highest since Q2 2022, slightly up from a 3.0% expansion in Q1, mainly driven by stronger household consumption, which accounts for 68.5% of GDP, rising 3.0% (vs 2.1% in Q1). External trade also supported growth, with exports up 9.1% (vs 1.2%) and imports increasing 8.0% (vs 5.8%). In contrast, government spending fell 1.0% (vs 1.1%), while gross capital formation grew at a slower pace of 6.1% (vs 18.0%). On a seasonally adjusted quarterly basis, GDP expanded 0.9% in Q2, accelerating from 0.5% in Q1 2025.
2025-09-04
North Macedonia GDP Growth Moderates in Q1 2025
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.
2025-06-03