Economic Indicators

The economic performance of the Macedonian economy is expressed through stable GDP growth,  inflation rate, fiscal discipline confirmed by the international financial institutions, and well-functioning coordination between fiscal and monetary policy.

High Credit Ratings

  • Standard & Poor’s: BB- (stable outlook)
  • Fitch: BB+ (positive)

Inflation Rate (%)

  • 2013: 2.8
  • 2014: – 0.3
  • 2015: – 0.3
  • 2016: – 0.2
  • 2017: 1.4
  • 2018: 1.5
  • 2019: 0.8
  • 2020: 1.2
  • 2021: 3.2
  • 2022: 14.2%

Stable currency

Macedonian Denar pegged to the DM/€ for the last 20 years (€1= MKD 61.5)

Foreign Direct Investments (€ M)

  • 2013: 229.4
  • 2014: 197.4
  • 2015: 202.8
  • 2016: 316.9
  • 2017: 180
  • 2018: 603.7
  • 2019: 363.3
  • 2020: 154.7
  • 2021: 387.5
  • 2022: 670.2

Export (€ bn)

  • 2013: 3.2
  • 2014: 3.7
  • 2015: 4.09
  • 2016: 4.4
  • 2017: 5.01
  • 2018: 5.9
  • 2019: 6.4
  • 2020: 5.8
  • 2021: 6.9
  • 2022:8.3
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