2025.09.0411:28:24UTC+00North Macedonia GDP Growth Hits 3-Year High

In the second quarter of 2025, North Macedonia's economy experienced a notable 3.4% year-on-year growth, marking the strongest performance since the second quarter of 2022. This represents a slight increase compared to the 3.0% growth seen in the first quarter. The primary catalyst for this growth was a significant rise in household consumption, which constitutes 68.5% of the nation's GDP. Household consumption rose by 3.0%, up from 2.1% in the previous quarter. Additionally, external trade played a supportive role in the economic expansion, with exports climbing by 9.1%, compared to 1.2% previously, and imports growing by 8.0%, up from 5.8%. In contrast, government expenditure saw a decline of 1.0%, following a minor increase of 1.1% in the prior quarter, while gross capital formation expanded at a more modest rate of 6.1%, significantly lower than the previous 18.0%. On a seasonally adjusted quarterly basis, the GDP grew by 0.9% in the second quarter, an improvement from the 0.5% growth recorded in the first quarter of 2025.