Economic Growth in North Macedonia
Over the past decade to 2022, North Macedonia recorded an average growth rate of 2.2% in real GDP, which was below the 2.5% average for Eastern Europe. In 2022, the real GDP growth was 2.1%. For more GDP information, visit our dedicated page.
North Macedonia GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for North Macedonia from 2014 to 2023.
Source: Macrobond.
North Macedonia GDP Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | 3.9 | -4.7 | 4.5 | 2.2 | 1.0 |
| GDP (USD bn) | 12.6 | 12.4 | 14.0 | 13.7 | 14.8 |
| GDP (EUR bn) | 11.3 | 10.9 | 11.8 | 13.0 | 13.7 |
| GDP (MKD bn) | 693 | 669 | 729 | 803 | 841 |
| Economic Growth (Nominal GDP, ann. var. %) | 4.8 | -3.4 | 9.0 | 10.1 | 4.7 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Macedonian GDP projections for the next ten years from a panel of 13 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Macedonian GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Macedonian GDP projections.
Want to get access to the full dataset of Macedonian GDP forecasts? Send an email to info@focus-economics.com.