North Macedonia: Gross fixed capital formation (annual % growth)

Key figures

What the numbers say

In 2024, North Macedonia's gross fixed capital formation (annual % growth) fell 0.67 percentage points on 2023 (from 5.64% to 4.97%).

Across the 30 yearly changes before that (1994 to 2023), the average change was +0.45 percentage points and a typical year strayed about 13.62 percentage points from that (the standard deviation). This year's change was 0.1 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 37.99 percentage points in 2000 and the biggest yearly fall was 26.82 percentage points in 2001. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains less than 1% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, North Macedonia had the 19th highest value of the 31 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to North Macedonia in the 2024 ranking

• Belize — 15th of 31: 5.88%
• Bhutan — 16th of 31: 5.75%
• Maldives — 17th of 31: 5.4%
• Cuba — 19th of 31: 3.66%
• United States — 20th of 31: 3.47%
• Bermuda — 21st of 31: 3.32%

What this measures

Gross fixed capital formation includes acquisitions less disposals of fixed assets during the accounting period, including certain specified expenditures on services that add to the value of non-produced assets. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 34 values

Gross fixed capital formation (annual % growth) in nearby economies

• Albania — 5.02% (2025)
• Armenia — 15.6% (2025)
• Austria — 1.37% (2025)
• Belarus — 10% (2025)
• Belgium — 0.1% (2025)
• Bosnia and Herzegovina — 10.24% (2024)
• Bulgaria — 0% (2025)
• Croatia — 6.14% (2025)
• Cyprus — 0.00117% (2025)
• Czechia

More economic policy & debt data for North Macedonia

• Adjusted savings, education expenditure (% of GNI) — 3.27% (2021)
• Adjusted savings, mineral depletion (current US$) — US$0 (2021)
• General government final consumption expenditure (current US$) — US$3.13 billion (2025)
• General government final consumption expenditure (current LCU) — 171.08 billion (2025)
• General government final consumption expenditure (constant 2015 US$) — US$1.83 billion (2025)
• General government final consumption expenditure (constant LCU) — 69.05 billion (2025)
• General government final consumption expenditure (% of GDP) — 16.39% (2025)
• Households and NPISHs Final consumption expenditure per capita, PPP (constant 2021 international $)

Reading data like this

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Questions people ask

What is North Macedonia's gross fixed capital formation (annual % growth)?

4.97% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1991?

It is up 9.17 percentage points from -4.2% in 1991. The highest value was 36.54% in 2000 and the lowest -20.51% in 1995.

How does North Macedonia rank?

19th highest of 31 economies with data for 2024.

Is the latest change in gross fixed capital formation (annual % growth) unusual for North Macedonia?

In 2024, North Macedonia's gross fixed capital formation (annual % growth) fell 0.67 percentage points on 2023 (from 5.64% to 4.97%). Across the 30 yearly changes before that (1994 to 2023), the average change was +0.45 percentage points and a typical year strayed about 13.62 percentage points from that (the standard deviation). This year's change was 0.1 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NE.GDI.FTOT.KD.ZG, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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