North Macedonia's gross fixed capital formation (current LCU) was 226.48 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 83.31% from 123.55 billion in 2014 (6.25% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 226.48 billion | 2024 |
| Five years earlier | 145.76 billion | 2019 |
| Ten years earlier | 123.55 billion | 2014 |
| Highest | 226.48 billion | 2024 |
| Lowest | 91.1 million | 1990 |
| Average since 2015 | 165.62 billion | 2015–2024 |
| First recorded | 91.1 million |
What the numbers say
In 2024, North Macedonia's gross fixed capital formation (current LCU) rose 1.7% on 2023 (from 222.68 billion to 226.48 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was +12.7% and a typical year strayed about 24.3% from that (the standard deviation). This year's change was 0.5 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 1,177.6% in 1992 and the biggest yearly fall was 4.8% in 2018. 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 10.8 billion a year. A straight line explains 80% 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.
How it compares
In 2024, North Macedonia had the 8th highest value of the 38 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
- Kazakhstan — 5th of 38: 33.24 trillion
- Angola — 6th of 38: 11.05 trillion
- United States — 7th of 38: 6.26 trillion
- New Caledonia — 9th of 38: 208.58 billion
- French Polynesia — 10th of 38: 152.8 billion
- Zambia — 11th of 38: 143.03 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 current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
All 35 values
| Year | Gross fixed capital formation (current LCU) |
|---|---|
| 2024 | 226,482,000,000 |
| 2023 | 222,677,000,000 |
| 2022 | 196,027,000,000 |
| 2021 | 171,094,432,800 |
| 2020 | 144,506,000,000 |
| 2019 | 145,756,000,000 |
| 2018 | 132,387,000,000 |
| 2017 | 139,018,000,000 |
| 2016 | 145,040,000,000 |
| 2015 | 133,254,000,000 |
Gross fixed capital formation (current LCU) in nearby economies
- Albania — 643.3 billion (2025)
- Armenia — 2.42 trillion (2025)
- Austria — 120.65 billion (2025)
- Azerbaijan — 21.03 billion (2025)
- Belarus — 71.9 billion (2025)
- Belgium — 153.41 billion (2025)
- Bosnia and Herzegovina — 13.1 billion (2024)
- Bulgaria — 23.36 billion (2025)
- Croatia — 23.93 billion (2025)
- Cyprus — 7.31 billion (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 (current LCU)?
- 226.48 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1990?
- It is up 248,508% from 91.1 million in 1990 (25.85% a year on average, compounded). The highest value was 226.48 billion in 2024 and the lowest 91.1 million in 1990.
- How does North Macedonia rank?
- 8th highest of 38 economies with data for 2024.
- Is the latest change in gross fixed capital formation (current LCU) unusual for North Macedonia?
- In 2024, North Macedonia's gross fixed capital formation (current LCU) rose 1.7% on 2023 (from 222.68 billion to 226.48 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was +12.7% and a typical year strayed about 24.3% from that (the standard deviation). This year's change was 0.5 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.CN, 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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