FX.co ★ North Macedonia Q3 GDP Growth Hits Yearly Peak

North Macedonia's economy experienced a robust growth of 3.8% year-on-year in the third quarter of 2025, marking the fastest expansion rate since the final quarter of 2024. This is an increase from the revised 3.5% growth observed in the second quarter. The acceleration was primarily attributed to a significant rise in gross fixed capital formation, which constitutes 31.1% of the GDP, soaring by 30.6%, up from 5.4% in the previous quarter. Additionally, government expenditure played a role, increasing by 5.7% compared to 3.5% earlier. Conversely, there was a deceleration in household consumption, which grew by only 0.9%, down from 3.1%. The expansion was also tempered by external trade, as export growth diminished to 3.4% from 8.5%, while imports surged by 9.9%, higher than the 8.1% previously recorded. On a seasonally adjusted quarterly basis, GDP rose by 0.8% in the third quarter, slowing down from a revised 1.1% growth in the second quarter.