North Macedonia

1980

2026

2030

1980

2026

2030

North Macedonia Economic Statistics (2026)

GDP per capita (PPP) in 2026: $31,169—an upper-middle income level.

The economy has grown at an average rate of 3.1% over the past 5 years.

GDP per capita (PPP)

$31,169

GDP growth

+3.2%

Inflation rate

3.0%

Unemployment

12.7%

Key terms

GDP: — Gross Domestic Product—the total value of goods and services produced in a country annually.
GDP PPP: — GDP adjusted for purchasing power parity—what money actually buys in each country.
GDP per capita: — GDP divided by population—a measure of average economic output per person.
Inflation rate: — Annual percentage increase in the general price level of goods and services.
Fiscal balance: — Government revenue minus expenditure. Surplus if positive, deficit if negative.
Current account: — Net flow of goods, services, and transfers with the rest of the world.

Total economic output and annual growth rate

Total GDP is $21 billion, with steady growth of 3.2% in 2026.

Average economic output per person

GDP per capita is $11,527 in nominal terms, but $31,169 when adjusted for local purchasing power—indicating lower prices than in the US.

Consumer price inflation and labor market conditions

The economy is experiencing moderate inflation at 3.0% and high unemployment at 12.7%.

Government debt, revenue, and expenditure as percentage of GDP

Government debt is moderate at 54% of GDP. The government spends more than it collects (revenue: 33.8%, expenditure: 38.3% of GDP).

Fiscal balance and current account as percentage of GDP

The country is running a fiscal deficit of 4.5% and a current account deficit of 3.1% of GDP.

North Macedonia has an upper-middle income economy with GDP per capita (PPP) of $31k. Unemployment is elevated at 12.7%.