Economic Indicators – Invest North Macedonia

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

Investing in North Macedonia