North Macedonia: Gross fixed capital formation (current US$)

Key figures

What the numbers say

In 2024, North Macedonia's gross fixed capital formation (current US$) rose 1.8% on 2023 (from US$3.91 billion to US$3.98 billion).

Across the 30 yearly changes before that (1994 to 2023), the average change was +8.6% and a typical year strayed about 14.6% 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 42.5% in 1995 and the biggest yearly fall was 50.8% in 1992. 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 US$179.78 million a year. A straight line explains 84% 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 20th highest value of the 37 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

• Zambia — 16th of 37: US$5.47 billion
• Tajikistan — 17th of 37: US$4.36 billion
• Bahamas, The — 18th of 37: US$4.08 billion
• Kosovo — 20th of 37: US$3.55 billion
• Zimbabwe — 21st of 37: US$3.29 billion
• Maldives — 22nd of 37: US$2.46 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 indicator is expressed in United States dollars.

Regional and income-group figures are computed by the World Bank as a gap-filled total.

All 35 values

Gross fixed capital formation (current US$) in nearby economies

• Albania — US$7.41 billion (2025)
• Armenia — US$6.26 billion (2025)
• Austria — US$136.33 billion (2025)
• Azerbaijan — US$12.37 billion (2025)
• Belarus — US$23.43 billion (2025)
• Belgium — US$173.35 billion (2025)
• Bosnia and Herzegovina — US$7.25 billion (2024)
• Bulgaria — US$26.33 billion (2025)
• Croatia — US$27.04 billion (2025)
• Cyprus — US$8.26 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

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Questions people ask

What is North Macedonia's gross fixed capital formation (current US$)?

US$3.98 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1990?

It is up 394.83% from US$804.77 million in 1990 (4.82% a year on average, compounded). The highest value was US$3.98 billion in 2024 and the lowest US$425.78 million in 1993.

How does North Macedonia rank?

20th highest of 37 economies with data for 2024.

Is the latest change in gross fixed capital formation (current US$) unusual for North Macedonia?

In 2024, North Macedonia's gross fixed capital formation (current US$) rose 1.8% on 2023 (from US$3.91 billion to US$3.98 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was +8.6% and a typical year strayed about 14.6% 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.CD, 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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