North Macedonia Debt Service
Total debt service as % of exports DT.TDS.DECT.EX.ZS
North Macedonia's debt service was 13.91% in 2025, ranked 48th globally. This represents a 3.5% decrease from 2024. Data from World Bank, covering 1996–2025.
Overview
North Macedonia's debt service stood at 13.91% in 2025, a decline of +0.51% from 2024. Based on recent trends, this figure is projected to reach 13.91% by 2025. North Macedonia ranked 48th globally.
North Macedonia’s debt‑service burden has risen sharply from an all‑time trough of 5.44 % of exports in 1996 to a peak of 26.40 % in 2013, before easing to 13.91 % in 2025, placing the country 48th globally. The post‑2008 global financial crisis and subsequent fiscal consolidation efforts contributed to the 2013 surge, while a combination of improved export performance and debt restructuring helped lower the ratio in the following decade. Compared with peers of similar rank, the Philippines recorded 13.89 % and Jordan 14.18 % in the same year, indicating that North Macedonia’s current burden is modestly lower than Jordan but slightly above the Philippines. The 30‑year coverage shows a volatile trajectory, with a pronounced peak‑trough‑peak pattern that reflects both external shocks and policy responses. Continued export growth and prudent debt management could sustain the downward trend, whereas renewed fiscal imbalances or external shocks might reverse the recent improvement.
Data & projection
| Year | Debt Service | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 13.21% | - | - |
| 2026* trend | 13.56% | - | - |
| 2025* trend | 13.91% | - | - |
| 2025 | 13.91% | −0.51% | #48 |
| 2024 | 14.42% | −2.58% | #62 |
| 2023 | 17.00% | +6.48% | #77 |
| 2022 | 10.52% | −5.93% | #49 |
| 2021 | 16.45% | +0.00% | #71 |
| 2020 | 16.45% | +6.76% | #61 |
| 2019 | 9.70% | −7.40% | #48 |
| 2018 | 17.10% | +2.71% | #79 |
| 2017 | 14.39% | −1.68% | #72 |
| 2016 | 16.07% | −5.52% | #75 |
| 2015 | 21.60% | +4.45% | #90 |
| 2014 | 17.15% | −9.25% | #89 |
| 2013 | 26.40% | +10.95% | #104 |
| 2012 | 15.45% | −3.59% | #87 |
| 2011 | 19.03% | +2.62% | #98 |
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 debt service improve within 24 months. View full analysis →
Frequently Asked Questions
North Macedonia's debt service was 13.91% in 2025. Ranked 48th globally. This represents a 3.5% decrease from the previous year.
North Macedonia's debt service peaked at 26.40% in 2013.
The lowest debt service in North Macedonia was 5.44% in 1996.
North Macedonia ranks 48th globally in debt service as of 2025.
The World Bank indicator code is DT.TDS.DECT.EX.ZS. Data sourced from World Bank.
North Macedonia's debt service is projected to reach 13.91% by 2025 based on trend extrapolation.
The debt service of North Macedonia in 2025 was 13.91%. This ranks 48th in the world.
Cite this page
@misc{historysaid_north-macedonia_debt-service,
title = {North Macedonia Debt Service},
url = {https://historysaid.com/north-macedonia/debt-service/},
publisher = {HistorySaid},
year = {2026}
}