North Macedonia: Net foreign assets (current LCU)

Key figures

What the numbers say

In 2025, North Macedonia's net foreign assets (current LCU) fell 5.22 billion on 2024 (from 282.19 billion to 276.97 billion).

Across the 30 yearly changes before that (1995 to 2024), the average change was +9.61 billion and a typical year strayed about 19.82 billion from that (the standard deviation). This year's change was 0.7 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 52.93 billion in 2024 and the biggest yearly fall was 29.22 billion 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 2016 to 2025 the straight-line trend is upward, about 13.73 billion a year. A straight line explains 83% 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 298.09 billion for 2028. We show this only because the same method, fitted on earlier years, predicted 2023 to 2025 better than "no change" would have: its average miss was 42.82 billion, against 74.39 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 2025, North Macedonia had the 59th highest value of the 106 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 2025 ranking

• Armenia — 55th of 106: 305.82 billion
• Malaysia — 56th of 106: 289.8 billion
• Djibouti — 57th of 106: 281.4 billion
• Mozambique — 59th of 106: 250.99 billion
• Guatemala — 60th of 106: 220.27 billion
• Honduras — 61st of 106: 181.98 billion

What this measures

Net foreign assets are the sum of foreign assets held by monetary authorities and deposit money banks, less their foreign liabilities. 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 33 values

Net foreign assets (current LCU) in nearby economies

• Albania — 1.12 trillion (2025)
• Armenia — 305.82 billion (2025)
• Austria — 113.77 billion (2024)
• Azerbaijan — 25.43 billion (2025)
• Belarus — 11.41 billion (2021)
• Belgium — 180.33 billion (2024)
• Bosnia and Herzegovina — 23.03 billion (2025)
• Bulgaria — 46.19 billion (2024)
• Croatia — 21.73 billion (2024)
• Cyprus — 31.88 billion (2024)
• Czechia

More financial sector data for North Macedonia

• GDP deflator (base year varies by country) — 198.34 (2025)
• GDP deflator, linked series (base year varies by country) — 198.34 (2025)
• DEC alternative conversion factor (LCU per US$) — US$54.65 (2025)
• Inflation, GDP deflator (annual % growth) — 4.63% (2025)
• Inflation, GDP deflator, linked series (annual % growth) — 4.63% (2025)
• Domestic credit to private sector by banks (% of GDP) — 53.3% (2025)
• Net domestic credit (current LCU) — 655.53 billion (2025)
• Monetary sector credit to private sector (% of GDP) — 53.4% (2025)
• Consumer price index (2010 = 100)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is North Macedonia's net foreign assets (current LCU)?

276.97 billion in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1993?

It is up 2,137% from -13.59 billion in 1993. The highest value was 282.19 billion in 2024 and the lowest -13.59 billion in 1993.

How does North Macedonia rank?

Source

World Bank, World Development Indicators, indicator FM.AST.NFRG.CN, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) 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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