North Macedonia Credit to GDP
Domestic credit to private sector as % of GDP FS.AST.PRVT.GD.ZS
North Macedonia's credit to gdp was 52.17% in 2025, ranked 62nd globally. This represents a 3.3% decrease from 2024. Data from World Bank, covering 2012–2025.
Overview
North Macedonia's credit to gdp stood at 52.17% in 2025, a decline of +1.75% from 2024. Based on recent trends, this figure is projected to reach 52.17% by 2025. North Macedonia ranked 62nd globally.
North Macedonia’s credit to GDP ratio has risen modestly over the 14‑year span from 48.11 in 2012 to 52.17 in 2025, placing the country 62nd in the world. The indicator peaked at 55.75 in 2020 before retreating to its current level, while the lowest point occurred in 2013 at 47.65. This trajectory reflects a gradual deepening of domestic credit markets after the post‑crisis trough, yet it remains below the peaks reached by peers such as Vanuatu (52.71) and Oman (52.46). The modest increase suggests that financial intermediation is expanding, albeit at a slower pace than in many emerging economies that have experienced sharper credit growth. Structural reforms aimed at improving access to finance for small and medium‑sized enterprises could sustain the upward trend, while any deterioration in external financing conditions might halt or reverse progress.
Data & projection
| Year | Credit to GDP | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 50.75% | - | - |
| 2026* trend | 51.46% | - | - |
| 2025* trend | 52.17% | - | - |
| 2025 | 52.17% | −1.75% | #62 |
| 2024 | 53.93% | +1.89% | #74 |
| 2023 | 52.04% | −2.25% | #90 |
| 2022 | 54.30% | −1.21% | #101 |
| 2021 | 55.50% | −0.25% | #101 |
| 2020 | 55.75% | +4.48% | #99 |
| 2019 | 51.27% | +1.02% | #106 |
| 2018 | 50.24% | +0.36% | #99 |
| 2017 | 49.88% | +0.91% | #103 |
| 2016 | 48.98% | −3.05% | #99 |
| 2015 | 52.03% | +1.52% | #102 |
| 2014 | 50.51% | +2.86% | #101 |
| 2013 | 47.65% | −0.46% | #99 |
| 2012 | 48.11% | – | #100 |
Detected Pattern
Analysis
North Macedonia matched the Export Boom Cycle pattern in 2023. Historically, 71% of countries showing this pattern (546 out of 768) saw credit to gdp improve within 24 months. View full analysis →
Frequently Asked Questions
North Macedonia's credit to gdp was 52.17% in 2025. Ranked 62nd globally. This represents a 3.3% decrease from the previous year.
North Macedonia's credit to gdp peaked at 55.75% in 2020.
The lowest credit to gdp in North Macedonia was 47.65% in 2013.
North Macedonia ranks 62nd globally in credit to gdp as of 2025.
The World Bank indicator code is FS.AST.PRVT.GD.ZS. Data sourced from World Bank.
North Macedonia's credit to gdp is projected to reach 52.17% by 2025 based on trend extrapolation.
The credit to gdp of North Macedonia in 2025 was 52.17%. This ranks 62nd in the world.
Cite this page
@misc{historysaid_north-macedonia_credit-to-gdp,
title = {North Macedonia Credit to GDP},
url = {https://historysaid.com/north-macedonia/credit-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}