North Macedonia: Gross fixed capital formation, private sector (% of GDP)

Key figures

What the numbers say

In 2024, North Macedonia's gross fixed capital formation, private sector (% of GDP) rose 0.36 percentage points on 2023 (from 18.75% to 19.11%).

Across the 23 yearly changes before that (2001 to 2023), the average change was +0.15 percentage points and a typical year strayed about 1.28 percentage points from that (the standard deviation). This year's change was 0.2 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 3.36 percentage points in 2007 and the biggest yearly fall was 2.78 percentage points in 2010. 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 21% 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 7th highest value of the 13 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

• Kosovo — 4th of 13: 24.53%
• Romania — 5th of 13: 19.42%
• Djibouti — 6th of 13: 19.18%
• Turkmenistan — 8th of 13: 16.33%
• Poland — 9th of 13: 12.21%
• Angola — 10th of 13: 7.3%

What this measures

Private investment covers outlays by the private sector (including private nonprofit agencies) on additions to its fixed domestic assets. 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 as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

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

All 25 values

Gross fixed capital formation, private sector (% of GDP) in nearby economies

• Croatia — 19.72% (2025)
• Kosovo — 24.53% (2024)
• Poland — 12.21% (2024)
• Romania — 19.42% (2024)
• Russian Federation — 16.28% (2021)
• Turkmenistan — 16.33% (2024)

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, private sector (% of GDP)?

19.11% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2000?

It is up 3.87 percentage points from 15.24% in 2000. The highest value was 20.6% in 2008 and the lowest 14.99% in 2005.

How does North Macedonia rank?

7th highest of 13 economies with data for 2024.

Is the latest change in gross fixed capital formation, private sector (% of GDP) unusual for North Macedonia?

In 2024, North Macedonia's gross fixed capital formation, private sector (% of GDP) rose 0.36 percentage points on 2023 (from 18.75% to 19.11%). Across the 23 yearly changes before that (2001 to 2023), the average change was +0.15 percentage points and a typical year strayed about 1.28 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations above 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.FPRV.ZS, 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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