North Macedonia flag North Macedonia: Economic and Political Overview

Foreign trade figures of North Macedonia

Foreign Trade in Figures

North Macedonia has an open economy and is highly integrated into international trade, with a total trade-to-GDP ratio of over 149% (World Bank, latest data available). According to data from the State Statistical Office, in 2023, in exports, the key products included supported catalysts with precious metals or compounds, ignition wiring sets for vehicles, aircraft, or ships, parts of seats (subgroup 821.1), and other supported catalysts. In imports, major products were petroleum oils (excluding crude), other platinum group metals and alloys (unwrought or powdered), platinum and platinum alloys (unwrought or powdered), and motor vehicles for transporting passengers.

In 2023, the country’s main export partners were Germany, which accounted for almost half of the total exports alone (44%), Serbia (4.8%), Kosovo (4.8%), Bulgaria (4.4%), and Greece (3.7%); with the main import origins being Germany (24.8%), the United Kingdom (7.8%), Greece (6.9%), China (5.7%), and Serbia (5.6% - data State Statistical Office). Overall, the EU accounted for 78.6% of total exports and 49.1% of imports. North Macedonia became a member of the WTO (World Trade Organisation) in April 2003. Following a cooperation agreement with the EU, North Macedonia signed a Stabilisation and Association Agreement, which concedes the country duty-free access to European markets. Lastly, in 2006, the country became a member of the Central European Free Trade Agreement (CEFTA), generally considered the antechamber of the EU.

North Macedonia's trade structure has been traditionally in deficit. In 2023, the country exported goods worth USD 9 billion – a 3.1% increase compared to the previous year – importing USD 12 billion (-5.4% y-o-y). With regard to services, North Macedonia exported USD 2.8 billion in commercial services, importing USD 2 billion (data by WTO). The World Bank estimated the country’s 2023 overall trade deficit decreased to 13% of GDP (from 20.6% one year earlier). According to preliminary data from the State Statistical Office, in 2024, North Macedonia's exports totalled USD 8,425.3 million, down 6.4% from the previous year, while imports amounted to USD 11,969.6 million, a 0.7% decrease. The trade deficit for the period was USD 3,544.4 million.

 
Foreign Trade Values 20202021202220232024
Imports of Goods (million USD) 8,71511,38612,75512,05611,966
Exports of Goods (million USD) 6,6388,1868,7278,9998,422
Imports of Services (million USD) 1,1271,4131,5702,0341,975
Exports of Services (million USD) 1,6432,0612,4332,8603,156

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20202021202220232024
Foreign Trade (in % of GDP) 128.2146.7166.1148.7138.5
Trade Balance (million USD) -2,060-2,751-3,668-2,849-3,352
Trade Balance (Including Service) (million USD) -1,583-2,154-2,886-2,058-2,199
Imports of Goods and Services (Annual % Change) -10.914.813.6-5.8-0.6
Exports of Goods and Services (Annual % Change) -10.914.310.6-0.6-3.8
Imports of Goods and Services (in % of GDP) 70.581.393.480.975.8
Exports of Goods and Services (in % of GDP) 57.865.472.867.862.7

Source: World Bank ; Latest available data

Foreign Trade Forecasts 2025 (e)2026 (e)2027 (e)2028 (e)2029 (e)
Volume of exports of goods and services (Annual % change) 2.33.83.74.04.0
Volume of imports of goods and services (Annual % change) 4.04.24.14.44.5

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Member of CEFTA (Central European Free Trade Agreement).  It also has Free Trade agreements with Turkey and Ukraine, and Stabilization and Association agreements with the European Union.
 

Main Partner Countries

Main Customers
(% of Exports)
2024
Germany 39.8%
Serbia 10.5%
Bulgaria 5.6%
Hungary 3.7%
Czech Republic 3.6%
See More Countries 36.8%
Main Suppliers
(% of Imports)
2024
United Kingdom 11.1%
Germany 10.9%
China 9.7%
Greece 8.9%
Serbia 7.1%
See More Countries 52.3%

Source: Comtrade, 2025. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

8.4 bn USD of products exported in 2024
Reaction initiators, reaction accelerators and...Reaction initiators, reaction accelerators and catalytic preparations, n.e.s. (excl. rubber accelerators) 23.2%
Insulated "incl. enamelled or anodised" wire,...Insulated "incl. enamelled or anodised" wire, cable "incl. coaxial cable" and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors 9.7%
Seats, whether or not convertible into beds, and...Seats, whether or not convertible into beds, and parts thereof, n.e.s. (excl. medical, surgical, dental or veterinary of heading 9402) 4.1%
Boards, panels, consoles, desks, cabinets and...Boards, panels, consoles, desks, cabinets and other bases, equipped with two or more apparatus of heading 8535 or 8536, for electric control or the distribution of electricity, incl. those incorporating instruments or apparatus of chapter 90, and numerical control apparatus (excl. switching apparatus for line telephony or line telegraphy) 3.4%
Centrifuges, incl. centrifugal dryers (excl. those...Centrifuges, incl. centrifugal dryers (excl. those for isotope separation); filtering or purifying machinery and apparatus, for liquids or gases; parts thereof (excl. artificial kidneys) 2.7%
See More Products 56.9%
12.0 bn USD of products imported in 2024
Platinum, incl. palladium, rhodium, iridium,...Platinum, incl. palladium, rhodium, iridium, osmium and ruthenium, unwrought or in semi-manufactured forms, or in powder form 8.7%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 7.0%
Ceramic wares for laboratory, chemical or other...Ceramic wares for laboratory, chemical or other technical uses; ceramic troughs, tubs and similar receptacles used in agriculture; ceramic pots, jars and similar articles used for the conveyance or packing of goods (excl. millstones, polishing stones, grindstones and the like of heading 6804; refractory ceramic goods; household articles; containers for shops; electrical devices, insulators and other insulating fittings) 3.1%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.0%
Insulated "incl. enamelled or anodised" wire,...Insulated "incl. enamelled or anodised" wire, cable "incl. coaxial cable" and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors 2.5%
See More Products 75.7%

Source: Comtrade, 2025. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

2.9 bn USD of services exported in 2023
21.01%
20.90%
20.89%
20.57%
10.99%
2.58%
1.84%
0.72%
0.20%
0.16%
0.13%
n/a%
2.1 bn USD of services imported in 2023
24.41%
20.34%
18.29%
15.26%
8.99%
7.70%
1.73%
1.23%
1.01%
0.53%
0.50%
0.02%

Source: United Nations Statistics Division, 2025. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: October 2025