North Macedonia Industrial Output Pulls Back

North Macedonia's industrial production fell 2.0% year-on-year in May 2026, reversing a 7.6% increase in April. The decline was driven by mining and quarrying, which fell 3.6% after a 4.3% rise, and manufacturing, which contracted 2.6% following a 6.8% increase. Meanwhile, electricity, gas, steam and air conditioning supply remained resilient, rising 6.1%, though easing from 22.6%. By industrial grouping, output growth slowed for energy (6.5% vs 17.2%) and intermediate goods excluding energy (3.4% vs 14.1%). Capital goods (-3.3% vs 1.5%) and non-durable consumer goods (-8.4% vs -5.5%) moved deeper into contraction, while the decline in durable consumer goods eased to 1.1% from 4.9%.

North Macedonia’s industrial production growth accelerated to 7.6% year-over-year in April 2026, up from 3.0% in March, as energy output soared 17.2% after a 7.8% contraction the previous month. Intermediate goods production also rose sharply (14.1% vs. 5.1%), and non-durable consumer goods expanded (5.5% vs. 0.4%). However, capital goods growth slowed (1.5% vs. 8.4%), while durable goods output declined significantly (-4.9% vs. 2.2%).

Industrial production in North Macedonia fell by 4.2% year-on-year in February 2026, easing from a 6.6% decline in January. Energy output declined 19%, reversing a 2.5% increase in the previous month. Output of durable consumer goods declined further (-12% versus -10.5%), while non-durable consumer goods improved slightly (-6.9% versus -11.9%). In contrast, production increased for intermediate goods excluding energy (0.2% versus -4.2%) and capital goods (2.1% versus -5.2%). By sector, production declined for mining and quarrying production (9.6% versus 2.5%) and utilities (17.2% versus 2.8%). Meanwhile, manufacturing decline eased to 1.9%, improving from an 8% decline in the previous month. For the first two months, industrial output declined 5.3% compared to the same period a year earlier.