North Macedonia's gross fixed capital formation (constant LCU) was 154.64 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 39.54% from 110.82 billion in 2014 (3.39% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 154.64 billion | 2024 |
| Five years earlier | 129.09 billion | 2019 |
| Ten years earlier | 110.82 billion | 2014 |
| Highest | 154.64 billion | 2024 |
| Lowest | 42.45 billion | 1999 |
| Average since 2015 | 133.72 billion | 2015–2024 |
| First recorded | 81.11 billion |
What the numbers say
In 2024, North Macedonia's gross fixed capital formation (constant LCU) rose 5% on 2023 (from 147.32 billion to 154.64 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was +3.6% and a typical year strayed about 10.4% from that (the standard deviation). This year's change was 0.1 standard deviations above 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 36.5% in 2000 and the biggest yearly fall was 20.5% in 1995. 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 the straight-line trend is upward, about 2.97 billion a year. A straight line explains 67% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
A straight-line projection, tested first
Extending that straight line gives about 159.12 billion for 2027. We show this only because the same method, fitted on earlier years, predicted 2022 to 2024 better than "no change" would have: its average miss was 3.93 billion, against 12.65 billion for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.
See how a linear trend forecast works and the guide on forecasting without fooling yourself.
How it compares
In 2024, North Macedonia had the 7th 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
- United States — 4th of 31: 5.33 trillion
- Angola — 5th of 31: 2.64 trillion
- Morocco — 6th of 31: 356.42 billion
- Lebanon — 8th of 31: 123.03 billion
- Bhutan — 9th of 31: 93.54 billion
- New Zealand — 10th of 31: 81.51 billion
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 is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.
All 35 values
| Year | Gross fixed capital formation (constant LCU) |
|---|---|
| 2024 | 154,640,000,000 |
| 2023 | 147,324,000,000 |
| 2022 | 139,458,000,000 |
| 2021 | 134,486,000,000 |
| 2020 | 129,605,000,000 |
| 2019 | 129,090,000,000 |
| 2018 | 118,766,000,000 |
| 2017 | 126,891,000,000 |
| 2016 | 134,498,000,000 |
| 2015 | 122,417,000,000 |
Gross fixed capital formation (constant LCU) in nearby economies
- Albania — 572.99 billion (2025)
- Armenia — 1.94 trillion (2025)
- Austria — 96.76 billion (2025)
- Belarus — 53.15 billion (2025)
- Belgium — 125.53 billion (2025)
- Bosnia and Herzegovina — 10.75 billion (2024)
- Bulgaria — 14.29 billion (2025)
- Croatia — 18.55 billion (2025)
- Cyprus — 6 billion (2025)
- Czechia — 1.75 trillion (2025)
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
Questions people ask
- What is North Macedonia's gross fixed capital formation (constant LCU)?
- 154.64 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1990?
- It is up 90.66% from 81.11 billion in 1990 (1.92% a year on average, compounded). The highest value was 154.64 billion in 2024 and the lowest 42.45 billion in 1999.
Source
World Bank, World Development Indicators, indicator NE.GDI.FTOT.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); 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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