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Indicators of economy in North Macedonia

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in North Macedonia reached 5.917 US dollars per inhabitant, or 12.26 bn US Dollar in the whole country. North Macedonia is one of the smaller economies and is currently ranked 136. If this is calculated per inhabitant taking into account the purchasing power parity, then North Macedonia is in the list of the world's richest countries in place 78.

Inflation in North Macedonia was in 2020 at around 1.20%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 56.0% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: North Macedonia

Impact of the Covid-19 pandemic in 2020

Overall, the gross domestic product in North Macedonia in 2020 decreased moderatly from 12.61 billion US Dollar to 12.26 billion US Dollar. Certainly, there have been shifts in some sectors of the economy, but a minus of 2.7% is still comparatively good this year. Numerous countries suffered more substantial losses. The tourism sector alone slumped by around 37 percent. Fortunately, the unemployment rate actually fell from 17.3 to 17.2 percent. The consumer inflation rate has risen from 0.8% previously to 1.2% now.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 North Macedonia
Total
North Macedonia
per capita
EU
Total
EU
per capita
GDP12.26 bn USD5,917.26 USD15,291.93 tn USD29,692.11 USD
Gross national product11.91 bn USD5,747.38 USD15,330.84 tn USD29,767.66 USD


Development of the Gross domestic product in billion US Dollar 1990 - 2020



Im- and Exports 2021

 North Macedonia
Total
North Macedonia
per capita
EU
Total
EU
per capita
Imports8.77 bn USD4,231.59 USD7,340.01 bn USD14,251.98 USD
Exports7.19 bn USD3,469.00 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in billion US dollars 1996 - 2021

Exports
Imports



North Macedonia: AirportsThe 1 airports in North MacedoniaSkopje Alexander the Great Airport - the only public airport in North Macedonia with further information on airlines and destinations
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