North Macedonia

Europe & Central Asia

Score

ModerateNR

Moderate Investment Destination

Growing economy with manageable risks - suitable for diversified portfolios

Score Breakdown

Economic Health (30%)48

Political Safety (25%)45

Business Climate (20%)52

Financial Strength (15%)52

Growth Potential (10%)58

Investment Profile

Score History

How North Macedonia's investment score has evolved over time

2021: 48/100+2 pts since 20212025: 50/100

Economic

GDP$14.8B

GDP Growth2.5%

GDP per Capita$7,120

Inflation3.8%

Current Account-2.5% GDP

Financial & Fiscal

Government Debt52% GDP

FDI Inflows3.5% GDP

Trade Openness129%

Credit RatingNR

Governance (WGI)

Political Stability-0.2

Rule of Law-0.3

Corruption Control-0.3

Regulatory Quality0.3

Population2.1M

Pop. Growth-0.2%

Sector Investment Analysis

IT & Services

4.5% of GDP

growing58

Manufacturing

14.5% of GDP

stable52

Agriculture

8.2% of GDP

stable48

Mining

3.8% of GDP

stable45