North Macedonia Economy Expands 3.8% in Q4

2026-03-03 11:16 By Joshua Ferrer 1 min. read

North Macedonia’s economy expanded by 3.8% year-on-year in the final quarter of 2025, the same pace as in the previous three-month period.

Still, this marked the strongest growth since Q4 2024, driven by an increase in final consumption (6.4% vs 5.7% in Q3), which accounts for 77.9% of the GDP, as both household expenditure (2% vs 0.9%) and government spending (6.4% vs 5.7%) rose faster.

Net external demand also contributed positively, with exports (9.7% vs 3.4%) increasing more than imports (3.3% vs 9.9%).

Meanwhile, gross investments declined by 3%, a sharp reversal from a 30.6% rise in Q3.

On the production side, the most notable increases were posted in the construction sector (14.6% vs 21%) and professional, scientific and technical activities; administrative and support service activities (8.1% vs 6.1%).

On a seasonally adjusted quarterly basis, GDP advanced by 0.9% in the fourth quarter, unchanged from the preceding quarter.

In 2025, the economy grew by 3.5% compared to 2024.



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North Macedonia Economy Expands 3.8% in Q4
North Macedonia’s economy expanded by 3.8% year-on-year in the final quarter of 2025, the same pace as in the previous three-month period. Still, this marked the strongest growth since Q4 2024, driven by an increase in final consumption (6.4% vs 5.7% in Q3), which accounts for 77.9% of the GDP, as both household expenditure (2% vs 0.9%) and government spending (6.4% vs 5.7%) rose faster. Net external demand also contributed positively, with exports (9.7% vs 3.4%) increasing more than imports (3.3% vs 9.9%). Meanwhile, gross investments declined by 3%, a sharp reversal from a 30.6% rise in Q3. On the production side, the most notable increases were posted in the construction sector (14.6% vs 21%) and professional, scientific and technical activities; administrative and support service activities (8.1% vs 6.1%). On a seasonally adjusted quarterly basis, GDP advanced by 0.9% in the fourth quarter, unchanged from the preceding quarter. In 2025, the economy grew by 3.5% compared to 2024.
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