North Macedonia Forecast: Real GDP Growth

1993 - 2027 | Yearly | % | International Monetary Fund

Key information about North Macedonia Forecast: Real GDP Growth

  • North Macedonia Real GDP Growth is forecasted to be 2.690 % in Dec 2022 as reported by International Monetary Fund.
  • It records an increase from the last reported number of 3.964 % in Dec 2021.
  • Looking ahead, North Macedonia Real GDP Growth is projected to stand at 3.805 % in Dec 2027.
  • The data is updated yearly and is categorized in CEIC under World Trend Plus’s Country Forecast – Table IMF.WEO: Gross Domestic Product: Constant Prices: YoY.

View North Macedonia's Forecast: Real GDP Growth from 1993 to 2027 in the chart:

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North Macedonia Forecast: Real GDP Growth
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North Macedonia Forecast: Real GDP Growth

What is North Macedonia's Forecast: Real GDP Growth in 2027?

North Macedonia Real GDP Growth is forecasted to be 2.690 % in Dec 2022 as reported by International Monetary Fund. See the table below for more data.

Last Previous Min Max Unit Frequency Range
3.805 2027 3.772 2026 -7.500 1993 6.473 2007 % yearly 1993 - 2027

Forecast: Real GDP Growth by Country Comparison

country/region Last Frequency Range
Afghanistan (%) 1.750 2024 yearly 2003 - 2024
Albania (%) 3.400 2028 yearly 1980 - 2028
Algeria (%) 1.782 2028 yearly 1980 - 2028
Andorra (%) 1.500 2030 yearly 2001 - 2030
Angola (%) 4.230 2028 yearly 1980 - 2028
Antigua and Barbuda (%) 2.685 2027 yearly 1980 - 2027
Argentina (%) 2.000 2027 yearly 1980 - 2027
Armenia (%) 4.500 2028 yearly 1993 - 2028
Aruba (%) 1.336 2030 yearly 1987 - 2030
Australia (%) 2.279 2027 yearly 1980 - 2027
Austria (%) 1.527 2028 yearly 1980 - 2028
Azerbaijan (%) 2.572 2028 yearly 1993 - 2028
Bahamas (%) 1.496 2027 yearly 1980 - 2027
Bahrain (%) 2.733 2028 yearly 1980 - 2028
Bangladesh (%) 9.531 2021 yearly 1980 - 2021
Barbados (%) 1.840 2027 yearly 1980 - 2027
Belarus (%) 0.741 2028 yearly 1993 - 2028
Belgium (%) 1.289 2028 yearly 1980 - 2028
Belize (%) 2.012 2027 yearly 1980 - 2027
Benin (%) 5.934 2028 yearly 1980 - 2028
Bhutan (%) 6.462 2030 yearly 1980 - 2030
Bolivia (%) 3.400 2027 yearly 1980 - 2027
Bosnia and Herzegovina (%) 3.000 2028 yearly 1997 - 2028
Botswana (%) 3.957 2028 yearly 1980 - 2028
Brazil (%) 2.015 2028 yearly 1980 - 2028
Brunei (%) 2.112 2027 yearly 1986 - 2027
Bulgaria (%) 2.840 2028 yearly 1980 - 2028
Burkina Faso (%) 5.258 2027 yearly 1980 - 2027
Burundi (%) 4.565 2027 yearly 1980 - 2027
Cambodia (%) 6.500 2027 yearly 1988 - 2027
Cameroon (%) 4.898 2027 yearly 1980 - 2027
Canada (%) 1.635 2030 yearly 1980 - 2030
Cape Verde (%) 4.498 2027 yearly 1980 - 2027
Central African Republic (%) 3.347 2028 yearly 1980 - 2028
Chad (%) 3.508 2027 yearly 1980 - 2027
Chile (%) 2.459 2027 yearly 1980 - 2027
China (%) 3.437 2028 yearly 1980 - 2028
Colombia (%) 3.345 2028 yearly 1980 - 2028
Comoros (%) 4.342 2027 yearly 1980 - 2027
Congo (%) 3.980 2028 yearly 1980 - 2028
Costa Rica (%) 3.243 2027 yearly 1980 - 2027
Croatia (%) 2.800 2028 yearly 1993 - 2028
Cyprus (%) 2.970 2030 yearly 1980 - 2030
Czech Republic (%) 2.501 2027 yearly 1996 - 2027
Democratic Republic of Congo (%) 6.482 2028 yearly 1980 - 2028
Denmark (%) 1.800 2027 yearly 1980 - 2027
Djibouti (%) 5.000 2028 yearly 1992 - 2028
Dominica (%) 2.685 2028 yearly 1980 - 2028
Dominican Republic (%) 4.985 2028 yearly 1980 - 2028
Ecuador (%) 2.751 2028 yearly 1980 - 2028
Egypt (%) 5.984 2028 yearly 1980 - 2028
El Salvador (%) 1.965 2027 yearly 1980 - 2027
Equatorial Guinea (%) -0.981 2027 yearly 1980 - 2027
Eritrea (%) 2.925 2028 yearly 1993 - 2028
Estonia (%) 3.300 2027 yearly 1994 - 2027
Swaziland (%) 2.278 2027 yearly 1980 - 2027
Ethiopia (%) 6.953 2028 yearly 1980 - 2028
Fiji (%) 3.459 2028 yearly 1980 - 2028
Finland (%) 1.189 2030 yearly 1980 - 2030
France (%) 1.450 2028 yearly 1980 - 2028
Gabon (%) 3.809 2027 yearly 1981 - 2027
Gambia (%) 5.000 2027 yearly 1980 - 2027
Georgia (%) 5.198 2028 yearly 1995 - 2028
Germany (%) 1.134 2028 yearly 1980 - 2028
Ghana (%) 6.774 2027 yearly 1980 - 2027
Greece (%) 1.355 2027 yearly 1980 - 2027
Grenada (%) 2.849 2027 yearly 1980 - 2027
Guatemala (%) 3.900 2028 yearly 1980 - 2028
Guinea (%) 5.187 2027 yearly 1980 - 2027
Guinea-Bissau (%) 5.000 2027 yearly 1981 - 2027
Guyana (%) 3.320 2027 yearly 1980 - 2027
Haiti (%) 1.500 2027 yearly 1980 - 2027
Honduras (%) 3.940 2027 yearly 1980 - 2027
Hong Kong SAR, China (%) 2.849 2027 yearly 1980 - 2027
Hungary (%) 3.150 2027 yearly 1980 - 2027
Iceland (%) 2.397 2030 yearly 1980 - 2030
India (%) 6.042 2029 yearly 1981 - 2029
Indonesia (%) 5.117 2027 yearly 1980 - 2027
Iran (%) 2.047 2029 yearly 1981 - 2029
Iraq (%) 2.625 2027 yearly 1999 - 2027
Ireland (%) 3.010 2027 yearly 1980 - 2027
Israel (%) 3.499 2027 yearly 1980 - 2027
Italy (%) 0.882 2028 yearly 1980 - 2028
Ivory Coast (%) 6.000 2028 yearly 1980 - 2028
Jamaica (%) 1.600 2027 yearly 1980 - 2027
Japan (%) 0.409 2028 yearly 1980 - 2028
Jordan (%) 3.300 2027 yearly 1980 - 2027
Kazakhstan (%) 2.778 2028 yearly 1993 - 2028
Kenya (%) 5.516 2027 yearly 1980 - 2027
Kiribati (%) 1.971 2027 yearly 1980 - 2027
South Korea (%) 2.340 2027 yearly 1980 - 2027
Kosovo (%) 3.950 2030 yearly 2001 - 2030
Kuwait (%) 2.655 2027 yearly 1980 - 2027
Kyrgyzstan (%) 3.977 2028 yearly 1993 - 2028
Laos (%) 4.496 2028 yearly 1980 - 2028
Latvia (%) 3.377 2027 yearly 1993 - 2027
Lebanon (%) -22.000 2020 yearly 1980 - 2020
Lesotho (%) 1.539 2031 yearly 1981 - 2031
Liberia (%) 5.680 2027 yearly 2001 - 2027
Libya (%) 3.588 2027 yearly 1980 - 2027

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North Macedonia Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -4.6 2024 yearly 1993 - 2024
Consolidated Fiscal Balance (USD mn) -764.028 2024 yearly 2009 - 2024
Tax Revenue (USD mn) 349.686 Oct 2025 monthly Jan 2004 - Oct 2025
Tax Revenue: % of GDP (%) 18.5 Sep 2025 quarterly Mar 2004 - Sep 2025
National Government Debt (USD mn) 10,002.3 Jun 2025 quarterly Dec 2009 - Jun 2025
Government Debt: % of GDP (%) 53.4 Jun 2025 quarterly Dec 2009 - Jun 2025
Forecast: Government Expenditure (MKD bn) 502.991 2030 yearly 1997 - 2030
Forecast: Government Net Debt (MKD bn) 752.318 2030 yearly 1999 - 2030
Forecast: Government Revenue (MKD bn) 468.709 2030 yearly 1997 - 2030
Central Government Budget: Financing (MKD mn) -2,413.000 Oct 2025 monthly Jan 2004 - Oct 2025
Central Government Budget: Expenditure: Capital (MKD mn) 1,177.000 Oct 2025 monthly Jan 2004 - Oct 2025
Central Government Budget: Expenditure: Current (MKD mn) 27,167.000 Oct 2025 monthly Jan 2004 - Oct 2025
Central Government Budget Balance (MKD mn) 2,413.000 Oct 2025 monthly Jan 2004 - Oct 2025
Central Government Budget: Expenditure (MKD mn) 28,344.000 Oct 2025 monthly Jan 2004 - Oct 2025
Central Government Budget: Revenue: TC: Tax: Excises (MKD mn) 2,675.000 Oct 2025 monthly Jan 2004 - Oct 2025
Central Government Budget: Revenue: TC: Tax: VAT (MKD mn) 9,728.000 Oct 2025 monthly Jan 2004 - Oct 2025
Central Government Budget: Revenue (MKD mn) 30,757.000 Oct 2025 monthly Jan 2004 - Oct 2025
Public Debt: External (EUR mn) 5,825.057 2024 yearly 1999 - 2024
Public Debt: Domestic (EUR mn) 3,800.301 2024 yearly 1999 - 2024
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 4.913 2028 yearly 1993 - 2028
Trade Balance (USD mn) -393.9 Oct 2025 monthly Dec 1993 - Oct 2025
Total Exports (USD mn) 846.3 Oct 2025 monthly Jan 2002 - Oct 2025
Total Exports Growth (%) 10.3 Sep 2025 monthly Jan 2003 - Sep 2025
Aluminum: Exports (USD th) 2,950.942 2024 yearly 1995 - 2024
Exports: Medicament (USD th) 173,759.623 2024 yearly 1995 - 2024
Exports: Medicinal and Pharmaceutical Product (USD th) 2,463.067 2024 yearly 1995 - 2024
Total Imports (USD mn) 1,240.3 Oct 2025 monthly Jan 2002 - Oct 2025
Total Imports Growth (%) 15.4 Oct 2025 monthly Jan 2003 - Oct 2025
Imports: Medicament (USD th) 226,116.306 2024 yearly 1995 - 2024
Imports: Medicinal and Pharmaceutical Product (USD th) 80,622.846 2024 yearly 1995 - 2024
Total Exports to USA (USD mn) 22.985 Oct 2025 monthly Jan 1999 - Oct 2025
Total Imports from USA (USD mn) 22.910 Oct 2025 monthly Jan 1993 - Oct 2025
Total Exports to China (USD mn) 4.423 Oct 2025 monthly Jan 1999 - Oct 2025
Total Imports from China (USD mn) 131.538 Oct 2025 monthly Aug 1996 - Oct 2025
Exports: Germany (USD th) 290,170.641 Oct 2025 monthly Jan 2013 - Oct 2025
Exports: China (USD th) 4,423.168 Oct 2025 monthly Jan 2013 - Oct 2025
Exports: Kosovo (USD th) 39,213.055 Oct 2025 monthly Jan 2013 - Oct 2025
Exports: Czech Republic (USD th) 33,465.846 Oct 2025 monthly Jan 2013 - Oct 2025
Exports: Bulgaria (USD th) 49,452.558 Oct 2025 monthly Jan 2013 - Oct 2025
Imports: Great Britain (USD th) 190,122.749 Oct 2025 monthly Jan 2013 - Oct 2025
Imports: China (USD th) 131,538.497 Oct 2025 monthly Jan 2013 - Oct 2025
Imports: USA (USD th) 22,909.729 Oct 2025 monthly Jan 2013 - Oct 2025
Imports: Germany (USD th) 120,495.808 Oct 2025 monthly Jan 2013 - Oct 2025
Imports: Greece (USD th) 87,000.298 Oct 2025 monthly Jan 2013 - Oct 2025
Import Value Index (2015=100) 177.142 2021 yearly 1995 - 2021
Export Value Index (2015=100) 180.473 2021 yearly 1995 - 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 62.4 Sep 2025 monthly Jan 2001 - Sep 2025
Current Account Balance (USD mn) 37.6 Sep 2025 monthly Jan 2001 - Sep 2025
Current Account Balance: % of GDP (%) 1.4 Sep 2025 quarterly Mar 2000 - Sep 2025
Foreign Direct Investment (USD mn) 68.0 Sep 2025 monthly Jan 2001 - Sep 2025
Foreign Direct Investment: % of GDP (%) 1.0 Sep 2025 quarterly Mar 2000 - Sep 2025
Foreign Portfolio Investment (USD mn) -50.418 Sep 2025 quarterly Mar 1998 - Sep 2025
Foreign Portfolio Investment: % of GDP (%) -1.0 Sep 2025 quarterly Mar 2000 - Sep 2025
Foreign Portfolio Investment: Equity Securities (USD mn) -1.7 Sep 2025 quarterly Mar 1996 - Sep 2025
Foreign Portfolio Investment: Debt Securities (USD mn) -48.753 Sep 2025 quarterly Mar 1998 - Sep 2025
External Debt (USD mn) 14,231.3 Jun 2025 quarterly Dec 2005 - Jun 2025
External Debt: % of GDP (%) 79.2 2024 yearly 2004 - 2024
External Debt: Short Term (USD mn) 3,590.4 Jun 2025 quarterly Dec 2005 - Jun 2025
External Debt: Short Term: % of GDP (%) 19.4 2024 yearly 2004 - 2024
Total Debt: % of GDP (%) 335.0 2023 yearly 2013 - 2023
Forecast: Current Account Balance (USD bn) -0.535 2030 yearly 1992 - 2030
Net International Investment Position (USD mn) -10,514.150 Jun 2025 quarterly Dec 2006 - Jun 2025
BoP: CA: SI: Debit (USD mn) 24.535 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: GS: Services (USD mn) 83.792 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: FA: OI: Net Acquisition of Financial Assets (USD mn) 31.817 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: Net Errors & Omissions (USD mn) -2.908 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: FA: Financial Derivatives & Employee Stock Options: excl Reserves (USD mn) 0.000 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: Debit (USD mn) 1,358.268 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: FA: DI: Net Acquisition of Financial Assets (USD mn) 62.437 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: Capital Account (USD mn) -0.127 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: Secondary Income (SI) (USD mn) 306.939 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: GS: Services: Credit (USD mn) 318.824 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: GS: Services: Debit (USD mn) 235.032 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: Financial Account (FA) (USD mn) 34.609 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: GS: Goods (USD mn) -273.325 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: FA: PI: Net Acquisition of Financial Assets (USD mn) -7.355 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: FA: Direct Investment (DI) (USD mn) -5.595 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: Primary Income (PI) (USD mn) -79.761 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: FA: DI: Net Incurrence of Liabilities (USD mn) 68.032 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: SI: Credit (USD mn) 331.474 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: GS: Goods: Credit (USD mn) 722.681 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: Credit (USD mn) 1,395.912 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: FA: PI: Net Incurrence of Liabilities (USD mn) -65.253 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: PI: Credit (USD mn) 22.932 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: FA: OI: Net Incurrence of Liabilities (USD mn) -70.812 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: PI: Debit (USD mn) 102.693 Sep 2025 monthly Jan 2001 - Sep 2025
Balance of Payments (BoP): Current Account (CA) (USD mn) 37.644 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: FA: Portfolio Investment (PI) (USD mn) 57.897 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: FA: Other Investment (OI) (USD mn) 102.630 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: Capital Account: Debit (USD mn) 0.176 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: FA: Reserve Assets (USD mn) -120.323 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: Capital Account: Credit (USD mn) 0.048 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: GS: Goods: Debit (USD mn) 996.007 Sep 2025 monthly Jan 2001 - Sep 2025
Gross External Debt: GG: Long Term (LT) (EUR mn) 3,796.950 Jun 2024 quarterly Mar 2006 - Jun 2024
Gross External Debt: GG: Short Term (ST) (EUR mn) 0.050 Jun 2024 quarterly Mar 2006 - Jun 2024
Gross External Debt: MI: Private (EUR mn) 6,143.841 Jun 2024 quarterly Mar 2006 - Jun 2024
Gross External Debt: Memorandum Items (MI): Public (EUR mn) 5,731.129 Jun 2024 quarterly Mar 2006 - Jun 2024
FDI: Flow: United States of America (EUR mn) 3.050 Sep 2025 quarterly Mar 2008 - Sep 2025
FDI: Flow: Belgium (EUR mn) 6.312 Sep 2025 quarterly Mar 2008 - Sep 2025
FDI: Flow: United Kingdom (EUR mn) -13.903 Sep 2025 quarterly Mar 2008 - Sep 2025
FDI: Flow: Turkey (EUR mn) 23.857 Sep 2025 quarterly Mar 2008 - Sep 2025
FDI: Flow: Austria (EUR mn) -17.989 Sep 2025 quarterly Mar 2008 - Sep 2025
FDI: Flow: NACE 2: Mining & Quarrying (EUR mn) 5.554 Sep 2025 quarterly Mar 2009 - Sep 2025
FDI: Flow: NACE 2: Manufacturing (EUR mn) -45.634 Sep 2025 quarterly Mar 2009 - Sep 2025
FDI: Flow: NACE 2: Construction (EUR mn) 23.826 Sep 2025 quarterly Mar 2009 - Sep 2025
FDI: Flow: NACE 2: Services (EUR mn) -25.282 Sep 2025 quarterly Mar 2009 - Sep 2025
FDI: Flow: NACE 2: Agriculture, Forestry & Fishing (EUR mn) 6.334 Sep 2025 quarterly Mar 2009 - Sep 2025
Foreign Direct Investment (FDI): Flow (USD mn) 21.374 Sep 2025 monthly Jan 2007 - Sep 2025
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 2.3 Jun 2025 quarterly Dec 2005 - Jun 2025
Household Debt: % of GDP (%) 26.7 Sep 2025 quarterly Mar 2003 - Sep 2025
Non-Performing Loans (USD mn) 243.945 Jun 2025 quarterly Dec 2005 - Jun 2025
Money Supply M1 (USD mn) 5,784.185 Oct 2025 monthly Jan 2003 - Oct 2025
Money Supply M2 (USD mn) 10,145.943 Oct 2025 monthly Jan 2003 - Oct 2025
M2 Growth (%) 11.8 Oct 2025 monthly Jan 2004 - Oct 2025
Reserve Requirement Ratio (%) 8.0 Nov 2025 monthly Jan 2004 - Nov 2025
Foreign Exchange Reserves (USD mn) 4,696.2 Oct 2025 monthly Dec 1993 - Oct 2025
Foreign Exchange Reserves: % of GDP (%) 24.433 Sep 2025 quarterly Dec 2000 - Sep 2025
Foreign Exchange Reserves: Months of Import (NA) 3.8 Oct 2025 monthly Jan 2002 - Oct 2025
Gold Reserves (USD mn) 889.394 Oct 2025 monthly Dec 1992 - Oct 2025
Total Deposits (USD mn) 11,844.121 Oct 2025 monthly Jan 2003 - Oct 2025
Total Deposits Growth (%) 11.8 Oct 2025 monthly Jan 2004 - Oct 2025
Domestic Credit (USD mn) 11,904.4 Oct 2025 monthly Jan 2003 - Oct 2025
Domestic Credit Growth (%) 19.8 Oct 2025 monthly Jan 2004 - Oct 2025
Household Debt (USD mn) 5,087.3 Oct 2025 monthly Jan 2003 - Oct 2025
Total Loans (USD mn) 10,044.328 Oct 2025 monthly Jan 2003 - Oct 2025
Total Loans Growth (%) 12.06 Oct 2025 monthly Jan 2004 - Oct 2025
Private Debt: % of Nominal GDP (%) 51.89 Sep 2025 quarterly Mar 2003 - Sep 2025
Official Reserve Assets (EUR mn) 4,861.286 Feb 2025 monthly Jan 2005 - Feb 2025
Official Reserve Assets: Foreign Currency (EUR mn) 4,254.546 Feb 2025 monthly Jan 2005 - Feb 2025
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) -2.9 Dec 2022 monthly Apr 2002 - Dec 2022

More Indicators for North Macedonia

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