North Macedonia GDP Deflator
Inflation as measured by annual growth rate of GDP implicit deflator NY.GDP.DEFL.KD.ZG
North Macedonia's gdp deflator was 7.68% in 2025, ranked 69th globally. This represents a 109.0% increase from 2024. Data from World Bank, covering 1991–2025.
Overview
North Macedonia's gdp deflator stood at 7.68% in 2025, a rise of +4.00pp from 2024. Based on recent trends, this figure is projected to reach 7.68% by 2025. North Macedonia ranked 69th globally.
North Macedonia’s GDP deflator has fallen dramatically from its post‑communist high of 1271.66 % in 1992 to a modest 7.68 % in 2025, placing the country 69th globally and closely matching peers such as Guam (7.73 %) and Somalia, Fed. Rep. (7.67 %). The sharp decline reflects the stabilization of domestic price levels after the hyperinflation of the early 1990s, with the deflator briefly turning negative in 2004 (‑0.17 %), the all‑time trough, before a gradual upward trend resumed. Over the 35‑year coverage period the indicator has moved from the extreme volatility of the early transition to a relatively low‑inflation environment comparable to Belarus (7.73 %) and Ireland (7.65 %). The 2025 figure suggests that price stability is now a feature of the Macedonian economy, and continued fiscal discipline together with credible monetary policy could keep the deflator anchored near the low‑single‑digit range, barring external shocks.
Data & projection
| Year | GDP Deflator | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 9.31% | - | - |
| 2026* trend | 8.49% | - | - |
| 2025* trend | 7.68% | - | - |
| 2025 | 7.68% | +4.00pp | #69 |
| 2024 | 3.67% | −4.21pp | #94 |
| 2023 | 7.88% | −0.99pp | #153 |
| 2022 | 8.87% | +4.59pp | #130 |
| 2021 | 4.29% | +2.91pp | #98 |
| 2020 | 1.37% | +0.51pp | #86 |
| 2019 | 0.87% | −3.06pp | #54 |
| 2018 | 3.93% | +1.12pp | #137 |
| 2017 | 2.81% | −0.66pp | #102 |
| 2016 | 3.47% | +1.46pp | #140 |
| 2015 | 2.00% | +0.56pp | #94 |
| 2014 | 1.45% | −3.04pp | #85 |
| 2013 | 4.48% | +3.48pp | #150 |
| 2012 | 1.00% | −2.72pp | #34 |
| 2011 | 3.72% | +1.68pp | #80 |
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 gdp deflator improve within 24 months. View full analysis →
Frequently Asked Questions
North Macedonia's gdp deflator was 7.68% in 2025. Ranked 69th globally. This represents a 109.0% increase from the previous year.
North Macedonia's gdp deflator peaked at 1,271.66% in 1992.
The lowest gdp deflator in North Macedonia was -0.17% in 2004.
North Macedonia ranks 69th globally in gdp deflator as of 2025.
The World Bank indicator code is NY.GDP.DEFL.KD.ZG. Data sourced from World Bank.
North Macedonia's gdp deflator is projected to reach 7.68% by 2025 based on trend extrapolation.
The gdp deflator of North Macedonia in 2025 was 7.68%. This ranks 69th in the world.
Cite this page
@misc{historysaid_north-macedonia_gdp-deflator,
title = {North Macedonia GDP Deflator},
url = {https://historysaid.com/north-macedonia/gdp-deflator/},
publisher = {HistorySaid},
year = {2026}
}