North Macedonia External Debt: % of GDP

2004 - 2025 | Yearly | % | National Bank of the Republic of North Macedonia

Key information about North Macedonia External Debt: % of GDP

  • North Macedonia External Debt accounted for 72.0 % of the country's Nominal GDP in 2025, compared with the ratio of 78.0 % in the previous year.
  • North Macedonia External Debt: % of Nominal GDP data is updated yearly, available from Dec 2004 to Dec 2025.
  • The data reached an all-time high of 81.5 % in Dec 2022 and a record low of 45.4 % in Dec 2004.




Related information about North Macedonia External Debt: % of GDP

  • In the latest reports of North Macedonia, Current Account recorded a surplus of 37.6 USD mn in Sep 2025.
  • Foreign Direct Investment (FDI) fell by 108.9 USD mn in Dec 2025.
  • North Macedonia Direct Investment Abroad fell by 215.0 USD mn in Dec 2025.
  • Its Foreign Portfolio Investment increased by 22.5 USD mn in Dec 2025.
  • The country's External Debt reached 14,345.4 in Dec 2025.
  • The country's Nominal GDP was reported at 4.6 USD bn in Jun 2025.

View North Macedonia's External Debt: % of GDP from 2004 to 2025 in the chart:

North Macedonia External Debt: % of GDP

What was North Macedonia's External Debt: % of GDP in 2025?

North Macedonia External Debt accounted for 72.0 % of the country's Nominal GDP in 2025, compared with the ratio of 78.0 % in the previous year. See the table below for more data.

Last Previous Min Max Unit Frequency Range
72.0 2025 78.0 2024 45.4 2004 81.5 2022 % yearly 2004 - 2025

External Debt: % of GDP by Country Comparison

country/region Last Frequency Range
Albania (%) 37.8 2025 yearly 1991 - 2025
Algeria (%) 1.1 2024 yearly 1970 - 2024
Argentina (%) 46.8 2025 yearly 1994 - 2025
Armenia (%) 64.8 2025 yearly 2000 - 2025
Australia (%) 107.6 2025 yearly 1988 - 2025
Austria (%) 154.5 2024 yearly 1997 - 2024
Azerbaijan (%) 14.9 Dec 2021 quarterly Dec 2001 - Dec 2021
Bangladesh (%) 11.4 2017 yearly 1997 - 2017
Belarus (%) 40.7 Dec 2025 quarterly Dec 2000 - Dec 2025
Belgium (%) 242.8 2025 yearly 2007 - 2025
Bolivia (%) 33.0 2024 yearly 2006 - 2024
Bosnia and Herzegovina (%) 16.4 2025 yearly 1999 - 2025
Botswana (%) 7.8 2025 yearly 1995 - 2025
Brazil (%) 29.0 2025 yearly 1992 - 2025
Bulgaria (%) 50.5 2025 yearly 1999 - 2025
Cambodia (%) 45.4 2024 yearly 2010 - 2024
Canada (%) 147.8 2025 yearly 1990 - 2025
Chile (%) 77.6 2025 yearly 1971 - 2025
China (%) 11.9 2025 yearly 1985 - 2025
Colombia (%) 48.0 2024 yearly 1970 - 2024
Croatia (%) 74.3 2022 yearly 1998 - 2022
Cyprus (%) 617.2 2025 yearly 2004 - 2025
Czech Republic (%) 66.4 2025 yearly 1995 - 2025
Denmark (%) 142.9 2025 yearly 2005 - 2025
Ecuador (%) 48.9 2025 yearly 1970 - 2025
Egypt (%) 42.4 Sep 2025 quarterly Jun 1999 - Sep 2025
Estonia (%) 100.4 2025 yearly 1996 - 2025
European Union (%) 106.7 2025 yearly 2013 - 2025
Finland (%) 207.2 2025 yearly 1991 - 2025
France (%) 250.2 2024 yearly 2004 - 2024
Georgia (%) 70.3 2025 yearly 1999 - 2025
Germany (%) 151.3 2025 yearly 1999 - 2025
Ghana (%) 25.7 2025 yearly 1999 - 2025
Greece (%) 237.7 2025 yearly 2003 - 2025
Hong Kong SAR, China (%) 481.9 2025 yearly 2001 - 2025
Hungary (%) 118.0 2025 yearly 2006 - 2025
Iceland (%) 75.3 2025 yearly 1989 - 2025
India (%) 19.1 2025 yearly 1970 - 2025
Indonesia (%) 29.9 2025 yearly 2003 - 2025
Iran (%) 0.8 2025 yearly 1994 - 2025
Ireland (%) 507.4 2025 yearly 2002 - 2025
Israel (%) 26.9 2025 yearly 1998 - 2025
Italy (%) 120.8 2024 yearly 2002 - 2024
Ivory Coast (%) 34.4 2022 yearly 1994 - 2022
Japan (%) 109.3 2025 yearly 2003 - 2025
Jordan (%) 74.1 2025 yearly 1970 - 2025
Kazakhstan (%) 59.5 Dec 2025 quarterly Mar 2002 - Dec 2025
Kenya (%) 31.1 2025 yearly 2006 - 2025
South Korea (%) 40.9 2025 yearly 1994 - 2025
Kosovo (%) 40.7 2024 yearly 2007 - 2024
Kuwait (%) 41.3 2024 yearly 2014 - 2024
Kyrgyzstan (%) 68.2 2024 yearly 2003 - 2024
Laos (%) 68.7 2024 yearly 1996 - 2024
Latvia (%) 99.5 Dec 2025 quarterly Mar 2000 - Dec 2025
Lebanon (%) 21.3 2023 yearly 2007 - 2023
Lithuania (%) 93.1 2025 yearly 1996 - 2025
Luxembourg (%) 3,937.1 2025 yearly 2002 - 2025
North Macedonia (%) 72.0 2025 yearly 2004 - 2025
Malawi (%) 60.1 2021 yearly 2006 - 2021
Malaysia (%) 68.9 2025 yearly 2009 - 2025
Malta (%) 785.5 2025 yearly 2004 - 2025
Mauritius (%) 1,200.9 2025 yearly 2009 - 2025
Mexico (%) 35.1 2025 yearly 2002 - 2025
Moldova (%) 56.7 2024 yearly 2000 - 2024
Mongolia (%) 159.5 2025 yearly 1992 - 2025
Montenegro (%) 105.7 2024 yearly 2006 - 2024
Morocco (%) 50.8 2022 yearly 1970 - 2022
Mozambique (%) 49.2 2023 yearly 1985 - 2023
Myanmar (%) 18.9 2023 yearly 2018 - 2023
Nepal (%) 17.3 2016 yearly 2001 - 2016
Netherlands (%) 345.3 2025 yearly 2003 - 2025
New Zealand (%) 98.2 2025 yearly 1993 - 2025
Nigeria (%) 12.0 2025 yearly 1985 - 2025
Norway (%) 156.0 2025 yearly 2003 - 2025
Pakistan (%) 33.4 2025 yearly 2000 - 2025
Palestinian Territory (%) 13.1 2024 yearly 2012 - 2024
Panama (%) 167.4 2021 yearly 2014 - 2021
Paraguay (%) 59.8 2025 yearly 2000 - 2025
Peru (%) 33.5 2025 yearly 1980 - 2025
Philippines (%) 30.3 2025 yearly 1990 - 2025
Poland (%) 50.1 2025 yearly 1995 - 2025
Portugal (%) 145.3 2025 yearly 1996 - 2025
Qatar (%) 106.1 2018 yearly 2000 - 2018
Romania (%) 57.5 2024 yearly 1995 - 2024
Russia (%) 12.5 2025 yearly 1993 - 2025
Serbia (%) 60.5 2024 yearly 2000 - 2024
Singapore (%) 402.2 2025 yearly 2003 - 2025
Slovakia (%) 100.8 2025 yearly 1995 - 2025
Slovenia (%) 88.9 2025 yearly 1995 - 2025
South Africa (%) 46.9 2025 yearly 1985 - 2025
Spain (%) 162.9 2024 yearly 1995 - 2024
Sri Lanka (%) 75.0 2022 yearly 1998 - 2022
Sudan (%) 202.2 2021 yearly 2001 - 2021
Sweden (%) 157.5 2025 yearly 1997 - 2025
Switzerland (%) 226.4 2025 yearly 1999 - 2025
Taiwan, China (%) 26.5 2025 yearly 1999 - 2025
Tajikistan (%) 37.7 2021 yearly 2000 - 2021
Thailand (%) 35.4 Dec 2025 quarterly Mar 2005 - Dec 2025
Tunisia (%) 73.8 2025 yearly 2002 - 2025
Turkey (%) 32.6 2025 yearly 1995 - 2025

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North Macedonia Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -4.6 2024 yearly 1993 - 2024
Consolidated Fiscal Balance (USD mn) -764.590 2025 yearly 2009 - 2025
Tax Revenue (USD mn) 311.743 Mar 2026 monthly Jan 2004 - Mar 2026
Tax Revenue: % of GDP (%) 17.9 Dec 2025 quarterly Mar 2004 - Dec 2025
National Government Debt (USD mn) 10,272.3 Dec 2025 quarterly Dec 2009 - Dec 2025
Government Debt: % of GDP (%) 51.8 Dec 2025 quarterly Dec 2009 - Dec 2025
Forecast: Government Expenditure (MKD bn) 542.546 2031 yearly 1997 - 2031
Forecast: Government Net Debt (MKD bn) 810.662 2031 yearly 1999 - 2031
Forecast: Government Revenue (MKD bn) 497.883 2031 yearly 1997 - 2031
Central Government Budget: Financing (MKD mn) 6,415.000 Mar 2026 monthly Jan 2004 - Mar 2026
Central Government Budget: Expenditure: Capital (MKD mn) 4,481.000 Mar 2026 monthly Jan 2004 - Mar 2026
Central Government Budget Balance (MKD mn) -6,415.000 Mar 2026 monthly Jan 2004 - Mar 2026
Central Government Budget: Expenditure (MKD mn) 38,405.000 Mar 2026 monthly Jan 2004 - Mar 2026
Central Government Budget: Revenue: TC: Tax: Excises (MKD mn) 1,729.000 Mar 2026 monthly Jan 2004 - Mar 2026
Central Government Budget: Revenue (MKD mn) 31,990.000 Mar 2026 monthly Jan 2004 - Mar 2026
Central Government Budget: Expenditure: Current (MKD mn) 33,924.000 Mar 2026 monthly Jan 2004 - Mar 2026
Central Government Budget: Revenue: TC: Tax: VAT (MKD mn) 7,705.000 Mar 2026 monthly Jan 2004 - Mar 2026
Public Debt: Domestic (EUR mn) 4,570.228 2025 yearly 1999 - 2025
Public Debt: External (EUR mn) 5,493.877 2025 yearly 1999 - 2025
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 4.913 2028 yearly 1993 - 2028
Trade Balance (USD mn) -193.5 Mar 2026 monthly Dec 1993 - Mar 2026
Total Exports (USD mn) 855.3 Mar 2026 monthly Jan 2002 - Mar 2026
Total Exports Growth (%) 10.3 Sep 2025 monthly Jan 2003 - Sep 2025
Aluminum: Exports (USD th) 2,950.942 2024 yearly 1995 - 2024
Exports: Medicament (USD th) 173,759.623 2024 yearly 1995 - 2024
Exports: Medicinal and Pharmaceutical Product (USD th) 2,463.067 2024 yearly 1995 - 2024
Total Imports (USD mn) 1,048.7 Mar 2026 monthly Jan 2002 - Mar 2026
Total Imports Growth (%) 3.6 Mar 2026 monthly Jan 2003 - Mar 2026
Imports: Medicament (USD th) 226,116.306 2024 yearly 1995 - 2024
Imports: Medicinal and Pharmaceutical Product (USD th) 80,622.846 2024 yearly 1995 - 2024
Total Exports to USA (USD mn) 5.813 Mar 2026 monthly Jan 1999 - Mar 2026
Total Imports from USA (USD mn) 15.340 Mar 2026 monthly Jan 1993 - Mar 2026
Total Exports to China (USD mn) 4.783 Mar 2026 monthly Jan 1999 - Mar 2026
Total Imports from China (USD mn) 106.971 Mar 2026 monthly Aug 1996 - Mar 2026
Exports: Kosovo (USD th) 42,537.159 Mar 2026 monthly Jan 2013 - Mar 2026
Exports: Germany (USD th) 308,271.804 Mar 2026 monthly Jan 2013 - Mar 2026
Exports: Czech Republic (USD th) 25,319.847 Mar 2026 monthly Jan 2013 - Mar 2026
Exports: China (USD th) 4,782.940 Mar 2026 monthly Jan 2013 - Mar 2026
Exports: Bulgaria (USD th) 57,705.103 Mar 2026 monthly Jan 2013 - Mar 2026
Imports: USA (USD th) 15,339.616 Mar 2026 monthly Jan 2013 - Mar 2026
Imports: Greece (USD th) 98,114.419 Mar 2026 monthly Jan 2013 - Mar 2026
Imports: Great Britain (USD th) 183,695.692 Mar 2026 monthly Jan 2013 - Mar 2026
Imports: Germany (USD th) 98,078.819 Mar 2026 monthly Jan 2013 - Mar 2026
Imports: China (USD th) 106,971.350 Mar 2026 monthly Jan 2013 - Mar 2026
Import Value Index (2015=100) 187.400 2023 yearly 1995 - 2023
Export Value Index (2015=100) 197.800 2023 yearly 1995 - 2023
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) -215.0 Dec 2025 monthly Jan 2001 - Dec 2025
Current Account Balance (USD mn) 37.6 Sep 2025 monthly Jan 2001 - Sep 2025
Current Account Balance: % of GDP (%) -5.6 Dec 2025 quarterly Mar 2000 - Dec 2025
Foreign Direct Investment (USD mn) 68.0 Sep 2025 monthly Jan 2001 - Sep 2025
Foreign Direct Investment: % of GDP (%) 0.5 Dec 2025 quarterly Mar 2000 - Dec 2025
Foreign Portfolio Investment (USD mn) 22.461 Dec 2025 quarterly Mar 1998 - Dec 2025
Foreign Portfolio Investment: % of GDP (%) 0.4 Dec 2025 quarterly Mar 2000 - Dec 2025
Foreign Portfolio Investment: Equity Securities (USD mn) 0.2 Dec 2025 quarterly Mar 1996 - Dec 2025
Foreign Portfolio Investment: Debt Securities (USD mn) 22.286 Dec 2025 quarterly Mar 1998 - Dec 2025
External Debt (USD mn) 14,345.4 Dec 2025 quarterly Dec 2005 - Dec 2025
External Debt: % of GDP (%) 72.0 2025 yearly 2004 - 2025
External Debt: Short Term (USD mn) 3,679.0 Dec 2025 quarterly Dec 2005 - Dec 2025
External Debt: Short Term: % of GDP (%) 19.4 2024 yearly 2004 - 2024
Total Debt: % of GDP (%) 342.8 2025 yearly 2013 - 2025
Forecast: Current Account Balance (USD bn) -0.873 2031 yearly 1992 - 2031
Net International Investment Position (USD mn) -10,243.560 Sep 2025 quarterly Dec 2006 - Sep 2025
BoP: FA: PI: Net Incurrence of Liabilities (USD mn) -65.253 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: Debit (USD mn) 1,358.268 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: PI: Credit (USD mn) 27.936 Dec 2025 monthly Jan 2001 - Dec 2025
BoP: FA: Financial Derivatives & Employee Stock Options: excl Reserves (USD mn) 0.000 Dec 2025 monthly Jan 2001 - Dec 2025
BoP: FA: OI: Net Incurrence of Liabilities (USD mn) 270.039 Dec 2025 monthly Jan 2001 - Dec 2025
BoP: FA: Reserve Assets (USD mn) -120.323 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: Capital Account (USD mn) -0.127 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: Secondary Income (SI) (USD mn) 306.939 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: PI: Debit (USD mn) 102.693 Sep 2025 monthly Jan 2001 - Sep 2025
Balance of Payments (BoP): Current Account (CA) (USD mn) -178.446 Dec 2025 monthly Jan 2001 - Dec 2025
BoP: CA: GS: Services: Credit (USD mn) 318.824 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: GS: Services: Debit (USD mn) 235.032 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: Financial Account (FA) (USD mn) -153.901 Dec 2025 monthly Jan 2001 - Dec 2025
BoP: FA: Direct Investment (DI) (USD mn) -5.595 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: GS: Goods: Debit (USD mn) 1,077.955 Dec 2025 monthly Jan 2001 - Dec 2025
BoP: CA: GS: Goods: Credit (USD mn) 641.390 Dec 2025 monthly Jan 2001 - Dec 2025
BoP: FA: Other Investment (OI) (USD mn) 102.630 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: Capital Account: Debit (USD mn) 0.176 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: FA: DI: Net Incurrence of Liabilities (USD mn) 68.032 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: GS: Goods (USD mn) -273.325 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: Primary Income (PI) (USD mn) -76.758 Dec 2025 monthly Jan 2001 - Dec 2025
BoP: CA: SI: Credit (USD mn) 331.474 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: GS: Services (USD mn) 83.792 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: SI: Debit (USD mn) 24.535 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: FA: OI: Net Acquisition of Financial Assets (USD mn) 34.832 Dec 2025 monthly Jan 2001 - Dec 2025
BoP: Net Errors & Omissions (USD mn) -2.908 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: CA: Credit (USD mn) 1,320.558 Dec 2025 monthly Jan 2001 - Dec 2025
BoP: FA: PI: Net Acquisition of Financial Assets (USD mn) -7.355 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: FA: Portfolio Investment (PI) (USD mn) 105.854 Dec 2025 monthly Jan 2001 - Dec 2025
BoP: FA: DI: Net Acquisition of Financial Assets (USD mn) 62.437 Sep 2025 monthly Jan 2001 - Sep 2025
BoP: Capital Account: Credit (USD mn) 0.048 Sep 2025 monthly Jan 2001 - Sep 2025
Gross External Debt: GG: Long Term (LT) (EUR mn) 4,053.687 Dec 2025 quarterly Mar 2006 - Dec 2025
Gross External Debt: GG: Short Term (ST) (EUR mn) 0.144 Dec 2025 quarterly Mar 2006 - Dec 2025
Gross External Debt: Memorandum Items (MI): Public (EUR mn) 5,438.688 Dec 2025 quarterly Mar 2006 - Dec 2025
Gross External Debt: MI: Private (EUR mn) 6,762.921 Dec 2025 quarterly Mar 2006 - Dec 2025
FDI: Flow: United States of America (EUR mn) 6.594 Dec 2025 quarterly Mar 2008 - Dec 2025
FDI: Flow: Austria (EUR mn) -17.989 Sep 2025 quarterly Mar 2008 - Sep 2025
FDI: Flow: Belgium (EUR mn) -2.770 Dec 2025 quarterly Mar 2008 - Dec 2025
FDI: Flow: Turkey (EUR mn) 23.857 Sep 2025 quarterly Mar 2008 - Sep 2025
FDI: Flow: United Kingdom (EUR mn) -13.903 Sep 2025 quarterly Mar 2008 - Sep 2025
FDI: Flow: NACE 2: Agriculture, Forestry & Fishing (EUR mn) 6.334 Sep 2025 quarterly Mar 2009 - Sep 2025
FDI: Flow: NACE 2: Mining & Quarrying (EUR mn) -3.361 Dec 2025 quarterly Mar 2009 - Dec 2025
FDI: Flow: NACE 2: Manufacturing (EUR mn) -45.634 Sep 2025 quarterly Mar 2009 - Sep 2025
FDI: Flow: NACE 2: Construction (EUR mn) 23.826 Sep 2025 quarterly Mar 2009 - Sep 2025
FDI: Flow: NACE 2: Services (EUR mn) -25.282 Sep 2025 quarterly Mar 2009 - Sep 2025
Foreign Direct Investment (FDI): Flow (USD mn) 21.374 Sep 2025 monthly Jan 2007 - Sep 2025
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 1.9 Dec 2025 quarterly Dec 2005 - Dec 2025
Household Debt: % of GDP (%) 26.6 Dec 2025 quarterly Mar 2003 - Dec 2025
Non-Performing Loans (USD mn) 233.627 Sep 2025 quarterly Dec 2005 - Sep 2025
Money Supply M1 (USD mn) 6,054.466 Mar 2026 monthly Jan 2003 - Mar 2026
Money Supply M2 (USD mn) 10,644.278 Mar 2026 monthly Jan 2003 - Mar 2026
M2 Growth (%) 11.9 Mar 2026 monthly Jan 2004 - Mar 2026
Reserve Requirement Ratio (%) 9.0 Mar 2026 monthly Jan 2004 - Mar 2026
Foreign Exchange Reserves (USD mn) 5,075.9 Apr 2026 monthly Dec 1993 - Apr 2026
Foreign Exchange Reserves: % of GDP (%) 24.328 Dec 2025 quarterly Dec 2000 - Dec 2025
Foreign Exchange Reserves: Months of Import (NA) 4.8 Mar 2026 monthly Jan 2002 - Mar 2026
Gold Reserves (USD mn) 1,009.304 Mar 2026 monthly Dec 1992 - Mar 2026
Total Deposits (USD mn) 12,404.350 Mar 2026 monthly Jan 2003 - Mar 2026
Total Deposits Growth (%) 11.3 Mar 2026 monthly Jan 2004 - Mar 2026
Domestic Credit (USD mn) 12,156.6 Mar 2026 monthly Jan 2003 - Mar 2026
Domestic Credit Growth (%) 13.1 Mar 2026 monthly Jan 2004 - Mar 2026
Household Debt (USD mn) 5,285.7 Mar 2026 monthly Jan 2003 - Mar 2026
Total Loans (USD mn) 10,617.520 Mar 2026 monthly Jan 2003 - Mar 2026
Total Loans Growth (%) 13.06 Mar 2026 monthly Jan 2004 - Mar 2026
Private Debt: % of Nominal GDP (%) 52.65 Dec 2025 quarterly Mar 2003 - Dec 2025
Official Reserve Assets (EUR mn) 5,207.362 Apr 2026 monthly Jan 2005 - Apr 2026
Official Reserve Assets: Foreign Currency (EUR mn) 4,327.626 Apr 2026 monthly Jan 2005 - Apr 2026
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) -2.9 Dec 2022 monthly Apr 2002 - Dec 2022

More Indicators for North Macedonia

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