North Macedonia M2 Money Supply Growth
Broad money growth (annual %) FM.LBL.BMNY.ZG
North Macedonia's m2 money supply growth was 8.09% in 2025, ranked 56th globally. This represents a 20.7% decrease from 2024. Data from World Bank, covering 1994–2025.
Overview
North Macedonia's m2 money supply growth stood at 8.09% in 2025, a decline of +2.11pp from 2024. Based on recent trends, this figure is projected to reach 8.09% by 2025. North Macedonia ranked 56th globally.
North Macedonia’s M2 money‑supply growth has averaged 8.09 percent in 2025, placing it 56th in the world and just below Romania’s 8.17 percent and China’s 7.79 percent. The series spans 32 years, beginning with a dramatic contraction of –55.16 percent in 1994, the lowest point in the record, and reaching its highest expansion of 66.63 percent in 2001 during the post‑Yugoslav transition. Since that peak, growth has moderated but remained positive, reflecting a gradual consolidation of the banking sector and the adoption of tighter monetary policies aimed at price stability. The 2025 figure signals a return to a more sustainable pace, yet it remains above the growth rates of larger economies such as Kuwait (7.76 percent) and Antigua and Barbuda (8.38 percent). Continued fiscal discipline and deeper integration with European financial markets are likely to temper future fluctuations and keep the trajectory on a modestly upward path.
Data & projection
| Year | M2 Money Supply Growth | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 8.40% | - | - |
| 2026* trend | 8.25% | - | - |
| 2025* trend | 8.09% | - | - |
| 2025 | 8.09% | −2.11pp | #56 |
| 2024 | 10.20% | +4.31pp | #59 |
| 2023 | 5.89% | +0.62pp | #47 |
| 2022 | 5.28% | −3.55pp | #40 |
| 2021 | 8.83% | +0.86pp | #53 |
| 2020 | 7.97% | −0.22pp | #36 |
| 2019 | 8.19% | −2.62pp | #73 |
| 2018 | 10.82% | +6.23pp | #110 |
| 2017 | 4.59% | −1.37pp | #47 |
| 2016 | 5.96% | −1.71pp | #53 |
| 2015 | 7.67% | −1.25pp | #67 |
| 2014 | 8.92% | +6.32pp | #79 |
| 2013 | 2.60% | −0.46pp | #13 |
| 2012 | 3.06% | −5.86pp | #21 |
| 2011 | 8.93% | −2.69pp | #60 |
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 m2 money supply growth improve within 24 months. View full analysis →
Frequently Asked Questions
North Macedonia's m2 money supply growth was 8.09% in 2025. Ranked 56th globally. This represents a 20.7% decrease from the previous year.
North Macedonia's m2 money supply growth peaked at 66.63% in 2001.
The lowest m2 money supply growth in North Macedonia was -55.16% in 1994.
North Macedonia ranks 56th globally in m2 money supply growth as of 2025.
The World Bank indicator code is FM.LBL.BMNY.ZG. Data sourced from World Bank.
North Macedonia's m2 money supply growth is projected to reach 8.09% by 2025 based on trend extrapolation.
The m2 money supply growth of North Macedonia in 2025 was 8.09%. This ranks 56th in the world.
Cite this page
@misc{historysaid_north-macedonia_m2-growth,
title = {North Macedonia M2 Money Supply Growth},
url = {https://historysaid.com/north-macedonia/m2-growth/},
publisher = {HistorySaid},
year = {2026}
}