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Theme: Gross Domestic Product

Gross domestic product of the Republic of North Macedonia in 2020 - preliminary data


According to the preliminary data of the State Statistical Office, obtained from the annual reports of business entities and other sources, the gross domestic product (GDP) in 2020 was 655 931 million denars and in comparison with 2019 it decreased by 5.3% in nominal terms. The real GDP growth rate in 2020, compared to 2019, was -6.1%.

The following sectors had the biggest share of value added in the structure of GDP in 2020: (G, H and I) Wholesale and retail trade; repair of motor vehicles and motorcycles; Transportation and storage; Accommodation and food service activities (19.2%).

The share of final consumption in 2020 in the structure of GDP was 83.9%.

In 2020, Household final consumption, including Non-profit institutions serving households, decreased by 2.7% in nominal terms, and its share in the GDP structure was 67.3%.

In 2020, the share of export of goods and services in GDP was 58.9%.

According to the preliminary data, the total value of gross fixed capital formation (GFCF) for 2020 was 144 779 million denars.

In the technical structure of GFCF, construction participated with 58.5%, machinery and equipment with 31.4%, and the rest of GFCF with 10.1%.

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