North Macedonia
Everything Palanor holds about North Macedonia, in one place: 55 public signals, what its economy runs on, how often America’s largest companies name it, the news that names it, and Country Posture. Every figure is computed from stored readings and carries its source and date.
Europe
The latest read
- GDP in current U.S. dollars: $19.1 billion (2025); record high since 1990; 1y +12.7%.
- Household consumption, share of GDP: 65.6% of GDP (2025); 10th percentile since 1990; lowest since 2019; 1y −1.19 pts.
- Net exports, share of GDP: -13.7% of GDP (2025); 68th percentile since 1990; lowest since 2022; 1y −0.77 pts.
Country Posture
What North Macedonia’s economy is doing
Momentum
2025Inputs only. Did not pass the pre-registered back-test: 1996–2009: AUC 0.590 below 0.60; AUC 0.590 below the single-input baseline (0.624); 2010–2022: AUC 0.595 below 0.60; AUC 0.595 below the single-input baseline (0.641).
Inputs
| Real GDP growth | 3.5 |
| Growth against its three-year average | 0.7 |
| Change in unemployment | -0.0 |
| Change in the employment rate | -0.2 |
| Export volume growth | — |
| OECD leading indicator | — |
Resilience
202541Moderate buffers
0 = thin buffers · 100 = deep buffers
Moved most by current account (down) since the year before.
Inputs
| Interest as a share of revenue (2024) | 5.9 | 27 |
| Budget balance (2024) | -4.3 | 21 |
| Reserves, months of imports | 4.6 | 56 |
| Current account | -4.3 | 33 |
| Governance (WGI mean) | 0.13 | 78 |
| External debt (2024) | 81.2 | 15 |
Pressure
2025Inputs only. Did not pass the pre-registered back-test: 1996–2009: AUC 0.657 below the single-input baseline (0.672).
Inputs
| Inflation | 4.1 |
| Change in inflation | 0.6 |
| Currency move against the dollar | -4.0% |
| Conflict deaths per million | 0.0 |
| Political stability | 0.38 |
| Private credit, three-year change | 2.0 |
| Bond spread over U.S. Treasuries | — |
Posture describes what an economy is doing; it is not a rating and never ranks countries. Each input is read against the country’s own history and against every other economy that year. An axis shows a score only after passing a back-test fixed before any result was computed. Method and back-test.
Passport reach
Where a North Macedonia passport opens doors
The share of world GDP, outside North Macedonia itself, in the economies whose published rules let a holder of this passport in, as of October 2026. Palanor records the rules of destinations holding 88% of world GDP, from each government’s own list, and weights them by World Bank GDP for 2025. Rank is among 199 passports.
Work
13.0%rank 75 of 199
the right to work (free movement in full; treaty and working-holiday routes at half); 0 destinations in full, 1 at half.
Recorded changes
- 2024-11-30China · visit: Visa required → Visa-free source
North Macedonia grants citizenship for a set investment
- Citizenship of special economic interest (Law on Citizenship Art. 11; Government Decree on criteria, as amended 2012) citizenship · OpenGovernment minimum $449,240 for one person (agent fees excluded). 0 citizenships granted in 2023, 0.00 per 1,000 residents.
Reach is shown here and not weighted into Country Strength: it rewards membership of a free-movement area or a treaty more than the strength of an economy. Entry is always at the border officer’s discretion, and conditions (length of stay, fees, age limits) vary. Method, sources and the full ranking: Passports and citizenship.
Palanor calculation from each destination government's published rules; GDP weights from the World Bank (CC BY 4.0), one year for the whole line, so it moves only when a list changes.
GDP by expenditure
What North Macedonia’s economy runs on
In 2025, household spending was 65.6% of GDP, government consumption 16.4%, investment 31.7% and net exports -13.7% (exports 59.6%, imports 73.4%).
World Bank national accounts. The parts can miss 100 by a few points (the statistical discrepancy).
Same World Bank definition for every country, so the shares compare directly: What each economy runs on.
IMF World Economic Outlook
The IMF’s outlook for North Macedonia
The latest year before the October 2026 edition (often still an IMF estimate) and the IMF’s own projections. These are the IMF’s published forecasts, shown as published; Palanor does not project them further. Since the previous edition the IMF raised its growth forecast for this year by 0.4 percentage points (Palanor calculation).
| Measure | 2025 | 2026 IMF f’cast | 2027 IMF f’cast | 2031 IMF f’cast |
|---|---|---|---|---|
| Real GDP growth% | 3.5 | 3.5 | 3.2 | 3.0 |
| Inflation, average consumer prices% | 4.1 | 4.0 | 4.5 | 2.0 |
| Unemployment rate% of labor force | 11.5 | 11.5 | 11.4 | 11.0 |
| GDP, current US dollarsUS$ bn | 19.1 | 21.2 | 22.8 | 28.3 |
| GDP at purchasing-power parityintl $ bn | 54.0 | 57.8 | 61.5 | 74.6 |
| GDP per person, US dollarsUS$ | 10,546 | 11,762 | 12,689 | 16,116 |
| Current account balance% of GDP | -4.4 | -5.8 | -5.1 | -3.0 |
| Government gross debt% of GDP | 52.6 | 53.8 | 54.6 | 56.0 |
| Government net debt% of GDP | 49.3 | 50.7 | 51.5 | 52.9 |
| Government overall balance% of GDP | -4.0 | -5.0 | -4.3 | -3.0 |
| Government primary balance% of GDP | -2.1 | -3.1 | -2.4 | -0.7 |
| Government net interest paid% of GDP · Palanor calc. | 1.9 | 1.9 | 1.9 | 2.3 |
Source: IMF World Economic Outlook Database (edition on the projection). Dashed: the IMF's published projection.
Source: IMF World Economic Outlook Database (edition on the projection). Dashed: the IMF's published projection.
Source: IMF World Economic Outlook Database, October 2026. Provided by the IMF “as is” and free of charge from the IMF; the IMF does not endorse Palanor. Net interest paid is a Palanor calculation: the IMF's primary balance minus its overall balance.
Conflict
Organized violence
Company graph
Companies headquartered in North Macedonia
Palanor’s company graph holds 2 entities headquartered here (GLEIF headquarters address, else legal address).
Signals
Every series about North Macedonia
Grouped by theme, the most-read first. All 55 in the Library.
Growth and output2
- North Macedonia · GDP · USD bn (current)record high since 1990; 1y +12.7%$19.1bn2025
- Severna Makedonija, North Macedonia (MK00) · At Risk of Poverty or Social Exclusion · % of populationrecord low since 2015; 1y −2.90 pts27.1% of population2024
Jobs and people at work1
- North Macedonia Unemployment Rate (Monthly, Eurostat)2nd percentile since Jan 2006; 1y −0.8 pts11%2026-08-01
Trade and capital flows1
- North Macedonia · Net International Investment Position, % of GDP (IMF)59th percentile since 2003; highest since 2014; 1y +0.997 pts-52.3% of GDP2025
Conflict and geopolitics2 of 6
- North Macedonia · Organized-Violence Deaths (UCDP, annual)record low since 1989; 1y unchanged0 deaths2025
- North Macedonia · State-Based Conflict Deaths (UCDP, annual)record low since 1989; 1y unchanged0 deaths2025
Migration3 of 7
- International Migrant Stock: North Macedonia (UN)record high since 1990150,902 people2024
- International Migrants as a Share of Population: North Macedonia (UN)record high since 19908.28% of population2024
- Change in Migrant Share of Population Since 2000: North Macedonia (UN)2.172024
More about this country2
- North Macedonia · IMF Credit Outstanding · USD bn (IMF)78th percentile since Apr 1993; 1y −15.6%$0.24bn2026-09-01
- North Macedonia · IMF Credit Outstanding, % of GDP53rd percentile since 1993; lowest since 2021; 1y −0.379 pts1.46% of GDP2025
Peers
Elsewhere in Europe
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