North Macedonia’s economy advanced by 3.2% year-on-year in the fourth quarter of 2024, up from a 3% expansion in the previous three-month period.
This marked the highest growth since Q2 2022, mainly driven by a higher increase in gross capital formation (1.7% vs 0.6% in Q3).
Additionally, government spending (6.8% vs 13.3%) and consumer spending (0.2% vs 1.9%) continued to rise.
Meanwhile, net trade contributed negatively to the GDP, as exports declined by 6%, whilst imports rose by 1.5%.
On a seasonally adjusted quarterly basis, the GDP grew by 0.8% in Q4, following an upwardly revised 0.7% gain in the preceding quarter.