North Macedonia Current Account Balance
Current account balance as % of GDP BN.CAB.XOKA.GD.ZS
North Macedonia's current account balance was -3.56% in 2025, ranked 124th globally. This represents a 69.7% decrease from 2024. Data from World Bank, covering 1992–2025.
Overview
North Macedonia's current account balance stood at -3.56% in 2025, a decline of +1.46% from 2024. The IMF projects -3.56% by 2025. North Macedonia ranked 124th globally.
North Macedonia’s current account balance has remained in deficit for most of the 34‑year series, widening from a modest -0.38 in 1992 to an all‑time trough of -12.47 in 2008, a period that coincided with the global financial crisis and sharply reduced export earnings. The balance recovered to a brief surplus of 0.32 in 2023, reflecting a temporary boost in tourism and remittances, before slipping back to a deficit of -3.56 in 2025, placing the country 124th globally. This 2025 figure is closely aligned with Paraguay’s -3.53 and Iceland’s -3.57, underscoring that North Macedonia’s external position remains comparable to other small, open economies facing similar trade and investment constraints. Persistent current‑account deficits suggest that without structural reforms to diversify exports, improve productivity, and attract stable foreign direct investment, the balance is likely to stay negative, although a sustained rebound in services exports could reverse the trajectory.
Data & projection
| Year | Current Account Balance | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -2.54% | - | - |
| 2029* IMF | -2.64% | - | - |
| 2028* IMF | -2.66% | - | - |
| 2027* IMF | -2.69% | - | - |
| 2026* IMF | -3.08% | - | - |
| 2025* IMF | -3.56% | - | - |
| 2025 | -3.56% | −1.46% | #124 |
| 2024 | -2.10% | −2.48% | #82 |
| 2023 | 0.32% | +6.37% | #117 |
| 2022 | -6.24% | −3.46% | #64 |
| 2021 | -2.68% | +0.25% | #88 |
| 2020 | -2.92% | +0.06% | #80 |
| 2019 | -2.99% | −3.19% | #77 |
| 2018 | 0.14% | +0.92% | #130 |
| 2017 | -0.59% | +2.03% | #121 |
| 2016 | -2.66% | −0.91% | #101 |
| 2015 | -1.71% | −1.36% | #115 |
| 2014 | -0.48% | +1.16% | #122 |
| 2013 | -1.64% | +1.53% | #117 |
| 2012 | -3.27% | −0.77% | #95 |
| 2011 | -2.49% | −0.46% | #107 |
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 current account balance improve within 24 months. View full analysis →
Frequently Asked Questions
North Macedonia's current account balance was -3.56% in 2025. Ranked 124th globally. This represents a 69.7% decrease from the previous year.
North Macedonia's current account balance peaked at 0.32% in 2023.
The lowest current account balance in North Macedonia was -12.47% in 2008.
North Macedonia ranks 124th globally in current account balance as of 2025.
The World Bank indicator code is BN.CAB.XOKA.GD.ZS. Data sourced from World Bank.
North Macedonia's current account balance is projected to reach -3.56% by 2025 based on IMF projection.
The current account balance of North Macedonia in 2025 was -3.56%. This ranks 124th in the world.
Cite this page
@misc{historysaid_north-macedonia_current-account,
title = {North Macedonia Current Account Balance},
url = {https://historysaid.com/north-macedonia/current-account/},
publisher = {HistorySaid},
year = {2026}
}