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North Macedonia

EU candidate country Outside the euro area Population: 1.82 M (2025)

Source: Eurostat, data retrieved 2026-10-17; each indicator links to its dataset · Methodology and technical sheets

Economic situation

North Macedonia: real GDP grew 4.3% year on year (Q2 2026); previous quarter: 3.1%; EU27: 1.5%. Harmonised inflation (HICP) stands at 3.5% (09/2026), below the EU27 average (3.8%); core inflation, excluding energy and food, is 3.6%. The unemployment rate stands at 10.9% (08/2026), down 0.8 percentage points on a year earlier; the EU27 rate is 6.2%. The current account shows a deficit of 6.6% of GDP (Q2 2026). Its best European position is in "Exports, real year-on-year change" (2 of 34) and its worst in "Real GDP growth (annual)" (35 of 35).

Key indicators

GDP growth4.3%Q2 2026 e+0.8 pp year on year5 of 34 in EuropeInflation (HICP)3.5%09/2026+0.2 pp year on year16 of 36 in EuropeUnemployment rate10.9%08/2026-0.8 pp year on year30 of 30 in EuropeEmployment rate (20–64)64.6%Q2 2026+1.2 pp year on year32 of 34 in EuropeCurrent account (% GDP)-6.6%Q2 2026-1.5 pp year on year25 of 32 in EuropeGDP per capita (EU = 100)432025 e-5.3% year on year32 of 33 in Europe

Trends

Activity: GDP, consumption and investment (real year-on-year change, %)
Prices: headline and core inflation (HICP, %)
Labour: total and youth unemployment (%)
External sector: current account, goods and services (% of GDP)
Economic sentiment (long-term average = 100)
Regions of North Macedonia →10 regions with indicators on population, GDP, jobs, income and well-being (NUTS 1: 1 · NUTS 2: 1 · NUTS 3: 8).

All indicators

80 indicators for North Macedonia. Its NUTS 1, 2 and 3 regions, with their own indicators, are on the country's regions page.

GDP and national accounts

18
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Nominal GDP (quarterly) M€Q2 2026 e4,416 M€+8.2%33 of 35
Real GDP, year-on-year change (quarterly) %Q2 2026 e4.3%+0.8 pp5 of 34
Real GDP, chain-linked volume (quarterly) M€ (2020)Q2 2026 e3,282 M€+4.3%33 of 35
Nominal GDP (annual) M€2025 e16,949 M€+1.1%36 of 37
Real GDP growth (annual) %2025 b-3.3%-7.1 pp35 of 35
GDP per capita € per inhabitant2025 e9,310 €+1.3%33 of 35
Real GDP per capita € (2020) per inhabitant2025 b6,850 €-3.1%33 of 35
Real GDP per capita, annual change %2025 b-3.1%-7.1 pp34 of 34
GDP per capita in purchasing power standards PPS per inhabitant2025 e17,843 PPS-1.5%32 of 33
GDP per capita in PPS relative to the EU27 index EU27 = 1002025 e43-5.3%32 of 33
Household consumption, real year-on-year change %Q2 2026 e3.3%+0.2 pp11 of 34
Government consumption, real year-on-year change %Q2 2026 e0.8%-2.7 pp24 of 34
Exports, real year-on-year change %Q2 2026 e10.4%+1.9 pp2 of 34
Imports, real year-on-year change %Q2 2026 e12.5%+4.4 pp4 of 34
Industry share of the economy % of GVA2025 e20.2%-0.2 pp15 of 37
Construction share of the economy % of GVA2025 e7.5%-0.3 pp8 of 37
Services share of the economy % of GVA2025 e65.4%+0.2 pp34 of 37
Public administration, education and health share of the economy % of GVA2025 e15.0%+1.6 pp32 of 37

Prices

22
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Consumer price level (HICP) index 2015 = 10009/2026156.09+3.5%10 of 36
HICP, annual rate of change %09/20263.5%+0.2 pp16 of 36
Core HICP (excluding energy, food, alcohol and tobacco) %09/20263.6%+0.8 pp25 of 36
HICP energy %09/202612.4%+11.1 pp9 of 36
HICP food, alcohol and tobacco %09/20261.6%-2.4 pp19 of 36
HICP services %09/20265.1%+3.0 pp24 of 36
HICP non-energy industrial goods %09/20261.6%-2.2 pp27 of 36
HICP alcoholic beverages and tobacco %09/20265.7%-1.8 pp28 of 36
HICP clothing and footwear %09/20263.0%-0.2 pp32 of 36
HICP furnishings and household equipment %09/20262.4%-2.6 pp32 of 36
HICP health %09/20261.3%-2.0 pp5 of 36
HICP information and communication %09/20261.0%-3.1 pp11 of 36
HICP recreation, sport and culture %09/20266.6%+1.7 pp30 of 36
HICP education services %09/20262.2%+2.3 pp11 of 36
HICP insurance and financial services %09/20260.4%-1.4 pp5 of 36
HICP personal care and miscellaneous goods and services %09/20264.0%+0.6 pp27 of 36
HICP, annual average rate %20254.3%+0.1 pp30 of 35
HICP electricity %09/20261.7%+1.1 pp15 of 34
HICP diesel %09/202645.0%+44.7 pp25 of 35
HICP petrol %09/202628.0%+27.8 pp22 of 35
Household electricity price (2 500–4 999 kWh, taxes included) €/kWhH1 20260.1168 €/kWh+2.1%6 of 36
Price level relative to the EU27 index EU27 = 100202552.2+3.0%36 of 36

Business and activity

10
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Industrial production index 2021 = 10008/202684.3-1.9%21 of 34
Retail trade, volume of sales index 2021 = 10008/2026 p114.0+3.6%15 of 32
Residential building permits (useful floor area) index 2021 = 100Q2 202683.7+8.6%22 of 35
Economic sentiment indicator index (average = 100)09/202695.4-0.7%24 of 30
Consumer confidence balance09/2026-9.5-691.7%16 of 30
Industrial confidence balance09/2026-9.9+6.6%26 of 30
Active enterprises enterprises202468,934+2.2%30 of 34
Enterprise birth rate %20249.3%+0.1 pp24 of 34
Enterprise death rate %2024 p15.0%+8.8 pp30 of 33
R&D expenditure % of GDP20230.37%0.00 pp33 of 34

Labour market and productivity

12
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Unemployment rate % of labour force08/202610.9%-0.8 pp30 of 30
Youth unemployment rate (under 25) % of labour force06/202628.0%0.0 pp30 of 33
Unemployed persons thousand persons08/202687-7.4%9 of 30
Unemployment rate (annual) % of labour force202511.5%-0.8 pp33 of 34
Long-term unemployment rate % of labour force20257.8%-0.2 pp33 of 34
Employment rate (20–64) % of populationQ2 202664.6%+1.2 pp32 of 34
Employed persons (15–74) thousand personsQ2 2026708+1.0%29 of 34
Employed persons per inhabitant % of population2023 e40.5%-0.1 pp34 of 36
Labour productivity per person employed, EU27 = 100 index EU27 = 100202352.10.0%31 of 32
Minimum wage € per monthH2 2026624 €+6.8%24 of 29
Job vacancy rate (B–S) %Q4 20252.1%+0.2 pp10 of 31
Population aged 25–64 with tertiary education %202525.1%+0.4 pp31 of 34

Households

5
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Median equivalised income PPS20249,356 PPS+23.0%32 of 33
Gini coefficient of disposable income 0–100202429.2-3.6%15 of 33
People at risk of poverty or social exclusion (AROPE) % of population202427.1%-2.9 pp29 of 33
Housing cost overburden rate % of population20245.6%-2.9 pp9 of 33
Household debt (loans) % of GDP2023 p27.3%-1.4 pp10 of 32

External sector and financing

5
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Current account balance % of GDPQ2 2026-6.6%-1.5 pp25 of 32
Goods balance % of GDPQ2 2026-18.4%-1.5 pp29 of 32
Services balance % of GDPQ2 20265.7%+1.4 pp11 of 32
Net international investment position % of GDPQ2 2026-51.1%+2.8 pp27 of 32
Net direct investment % of GDPQ2 2026-0.4%-1.0 pp19 of 32

Demography

6
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Population on 1 January persons20251,822,612-0.2%31 of 38
Total population change per 1,000 inhabitants2025-1.9+5.0%29 of 39
Net migration (including statistical adjustment) per 1,000 inhabitants20250.5+66.7%28 of 39
Median age of population years202542.1+0.7%26 of 38
Old-age dependency ratio (65+ / 15–64) %202528.7%+0.9 pp9 of 38
Life expectancy at birth years2021 b73.2-1.6%31 of 35

Public-sector efficiency

2
IndicatorPeriodValueYear-on-year changeTrendRank in Europe
Employment in public administration and defence (NACE O) thousand persons202246-2.6%28 of 35
Total employment (national accounts) thousand persons2022744-6.2%28 of 35