North Macedonia's new businesses registered (number) was 6,045 in 2024, the latest year in the World Bank's World Development Indicators. That is up 15.8% from 5,220 in 2014 (1.48% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 6,045 | 2024 |
| Five years earlier | 5,678 | 2019 |
| Ten years earlier | 5,220 | 2014 |
| Highest | 10,000 | 2007 |
| Lowest | 5,220 | 2014 |
| Average since 2015 | 5,840 | 2015–2024 |
| First recorded | 8,000 | 2006 |
What the numbers say
In 2024, North Macedonia's new businesses registered (number) fell 4.3% on 2023 (from 6,315 to 6,045).
Across the 17 yearly changes before that (2007 to 2023), the average change was −0.8% and a typical year strayed about 11.8% from that (the standard deviation). This year's change was 0.3 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 25% in 2007 and the biggest yearly fall was 17% in 2009. 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 91.75 a year. A straight line explains 36% 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 87th highest value of the 127 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
- Uruguay — 84th of 127: 7,187
- Montenegro — 85th of 127: 7,136
- Congo, Dem. Rep. — 86th of 127: 6,095
- Togo — 88th of 127: 5,665
- Guinea — 89th of 127: 5,626
- Benin — 90th of 127: 5,522
What this measures
New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the calendar year.
Limitations: The definition of entrepreneurship used is limited to the formal sector. Yet, it should be noted that the exclusion of the informal sector is based on the difficulties of quantifying the number of firms that compose it, rather than on its relevance for developing economies. Data collected from economies categorized as offshore financial centers by Eurostat are excluded from the analysis, because registered entities in these countries may not fit the objective of the Entrepreneurship Database aiming at measuring formally registered companies with actual economic activities.
All 19 values
| Year | New businesses registered (number) |
|---|---|
| 2024 | 6,045 |
| 2023 | 6,315 |
| 2022 | 6,478 |
| 2021 | 6,454 |
| 2020 | 5,261 |
| 2019 | 5,678 |
| 2018 | 5,273 |
| 2017 | 5,433 |
| 2016 | 5,681 |
| 2015 | 5,784 |
| 2014 |
New businesses registered (number) in nearby economies
More private sector & trade data for North Macedonia
- Merchandise trade (% of GDP) — 115.78% (2025)
- Merchandise imports (current US$) — US$13.06 billion (2025)
- Merchandise exports (current US$) — US$9.06 billion (2025)
- Agricultural raw materials imports (% of merchandise imports) — 0.63% (2025)
- Food imports (% of merchandise imports) — 12.04% (2025)
- Fuel imports (% of merchandise imports) — 10.82% (2025)
- Manufactures imports (% of merchandise imports) — 63.43% (2025)
- Ores and metals imports (% of merchandise imports) — 12.77% (2025)
- Agricultural raw materials exports (% of merchandise exports)
Reading data like this
Questions people ask
- What is North Macedonia's new businesses registered (number)?
- 6,045 in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2006?
- It is down 24.44% from 8,000 in 2006 (1.54% a year on average, compounded). The highest value was 10,000 in 2007 and the lowest 5,220 in 2014.
- How does North Macedonia rank?
- 87th highest of 127 economies with data for 2024.
- Is the latest change in new businesses registered (number) unusual for North Macedonia?
- In 2024, North Macedonia's new businesses registered (number) fell 4.3% on 2023 (from 6,315 to 6,045). Across the 17 yearly changes before that (2007 to 2023), the average change was −0.8% and a typical year strayed about 11.8% from that (the standard deviation). This year's change was 0.3 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 IC.BUS.NREG, licensed CC BY 4.0. Original source: Entrepreneurship Database, World Bank (WB), uri: https://www.worldbank.org/en/programs/entrepreneurship 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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