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 2021 was at about 12.259 US Dollar per capita. In contrast, the GDP in North Macedonia reached 6.721 US dollars per inhabitant, or 13.88 bn US Dollar in the whole country. North Macedonia is one of the smaller economies and is currently ranked 135. 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 75.Inflation in North Macedonia was in 2021 at around 3.23%. Within the EU, the average in the same year was 2.55%. 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 12.12 billion US Dollar. Certainly, there have been shifts in some sectors of the economy, but a minus of 3.9% 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 2021
North Macedonia Total | North Macedonia per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 13.88 bn USD | 6,720.90 USD | 17,088.62 tn USD | 33,228.68 USD |
Gross national product | 12.67 bn USD | 6,133.71 USD | 16,776.12 tn USD | 32,621.03 USD |
Development of the Gross domestic product in billion US Dollar 1990 - 2021
› Debt budget development
› Development of inflation
› Corruption in North Macedonia
› Cost of living in a global comparison
› Development of inflation
› Corruption in North Macedonia
› Cost of living in a global comparison
Im- and Exports 2021
North Macedonia Total | North Macedonia per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 11.35 bn USD | 5,495.21 USD | 8,916.24 bn USD | 17,337.55 USD |
Exports | 9.15 bn USD | 4,430.91 USD | 9,554.34 bn USD | 18,578.33 USD |
Development of imports and exports in billion US dollars 1996 - 2021
Exports
Imports