North Macedonia’s gross domestic product advanced by 2% year-on-year in the third quarter of 2022, decelerating from an upwardly revised 4% rise in the previous period. It marks the seventh consecutive quarter of expansion but at the slowest pace since the last quarter of 2021, mainly due to a sharp slowdown in fixed investment (9% vs 41.6% in Q2). At the same time, government spending declined (-4.7% vs -5.2%) and net external demand contributed negatively to growth, as imports (19.4% vs 19.8% in Q2) rose faster than exports (17.8% vs 14.2% in Q2). On the other hand, household consumption picked up (5.4% vs 1.5%). source: State Statistical Office of the Republic of Macedonia
GDP Annual Growth Rate in Macedonia averaged 2.47 percent from 2001 until 2022, reaching an all time high of 14.50 percent in the second quarter of 2021 and a record low of -14.90 percent in the second quarter of 2020. This page provides - Macedonia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. North Macedonia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.
GDP Annual Growth Rate in Macedonia is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.