GDP (annual) in North Macedonia

Gross Domestic Product (GDP) measures the value of all final goods and services produced in North Macedonia over a year. It is compiled by the State Statistical Office and is the broadest gauge of the size and pace of growth of the economy.

The State Statistical Office compiles GDP from the expenditure, production (sector value added plus net taxes) and income sides. It is expressed in denars at current and constant prices, with the real year-on-year change measuring growth.

It is the main reference for North Macedonia's cycle and central to its EU accession process. Solid growth supports jobs and revenue, whereas a weak reading weighs on the National Bank, which pegs the denar to the euro.

It is released several weeks in arrears and early estimates are revised later. Being a small, open economy, the figure is volatile and sensitive to external demand, and it does not fully capture informal activity.