The Gross Domestic Product (GDP) in Macedonia expanded 0.90 percent in the second quarter of 2025 over the previous quarter. GDP Growth Rate in Macedonia averaged 2.59 percent from 2004 until 2025, reaching an all time high of 8.20 percent in the second quarter of 2005 and a record low of -2.40 percent in the second quarter of 2009. source: State Statistical Office of the Republic of Macedonia
GDP Growth Rate in Macedonia is expected to be 0.50 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 Growth Rate is projected to trend around 0.30 percent in 2026 and 0.40 percent in 2027, according to our econometric models.
Macedonia has a small, open market economy with one of the lowest GDP per capita in Europe. The main sectors of the Macedonian economy are services (more than 50 percent of GDP) and industry (30 percent of GDP). The textile sector is the main source of foreign trade and accounts for more than 50 percent of total exports. Macedonia also produces iron, steel, wine and vegetables. 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 |
|
|
0.90 |
0.50 |
8.20 |
-2.40 |
2004 - 2025 |
percent |
Quarterly |
SA
|