Country
North Macedonia MKD
score date 2026-10-10 · 30d +0.5
Seven dimensions
Credibility gap92.6
IMF / national CPI · as of 2026-08-01 · coverage: bronze
Behind the curve—
BIS policy rates + CPI · as of 2026-10-02 · coverage: bronze
Communication—
Central-bank statements · as of 2026-10-10 · coverage: bronze
Geopolitical48.5
GDELT · as of 2026-10-10 · coverage: bronze
Growth41.2
World Bank WDI / IMF WEO · as of 2026-10-10 · coverage: bronze
Liquidity42.2
IMF BOP / BIS / FRED · as of 2026-10-10 · coverage: bronze
Governance52.6
World Bank WGI · as of 2026-10-10 · coverage: bronze
North Macedonia sovereign credibility, in brief
North Macedonia scores 56.8 out of 100 on the composite sovereign credibility index — credibility band 50–65. That ranks it 25 of 31 in Europe & Central Asia, the 23rd percentile of the region. The score has risen 0.1 points over the past seven days. CPI 2.6% (implicit target) — credibility under pressure (57/100).
As of 2026-10-10 · scored daily from public data under methodology v8
Peer context
Rank 25/31 in Europe & Central Asia · 23th percentile
Region avg 60.3 · best 68.3 · worst 47.4
Ranked either side
- Cyprus 58.0
- Montenegro 57.0
- Lithuania 56.3
- Greece 55.2
90-day trend
External pulse
- Commodity terms-of-trade, 12m change
- -2.6%
- as of 2026-10-11
- Electricity demand, YoY
- -1.6%
- as of 2026-04-01
- Industrial production, YoY
- -2.1%
- as of 2026-05-01
Terms-of-trade: IMF Commodity Terms of Trade · Electricity: Ember (CC BY 4.0) · Industrial production: Eurostat, © European Union (CC BY 4.0)
Key indicators
External & activity
| Cpi monthly index | 104.0 | 2026-08-01 | ILO CPI |
| Current account (% GDP) | -4.3% | 2025-12-31 | World Bank |
| Electricity demand (TWh) | 0.6 | 2026-04-01 | Ember |
| FDI inflows (% GDP) | 3.5% | 2025-12-31 | World Bank |
| GDP growth, annual | 3.5% | 2025-12-31 | World Bank |
| Industrial production index (2021=100) | 99.1 | 2026-05-01 | Eurostat |
| Nightlights radiance (monthly sum) | 103.3K | 2025-12-01 | World Bank / NASA Black Marble |
| Nightlights radiance, YoY | -6.6% | 2025-12-01 | derived |
| Remittances (% GDP) | 2.4% | 2025-12-31 | World Bank |
| Reserves (months of imports) | 4.6 mo | 2025-12-31 | World Bank |
| Retail sales volume index (2021=100) | 105.7 | 2026-04-01 | Eurostat |
| Retail sales volume, YoY | 2.1% | 2026-04-01 | Eurostat |
| Trade openness (% GDP) | 133.0% | 2025-12-31 | World Bank |
| Unemployment rate | 12.3% | 2025-12-31 | World Bank |
| Unemployment rate (ILO) | 11.5% | 2025-12-31 | ILO |
Structure
| External debt (% GNI) | 81.2% | 2024-12-31 | World Bank |
| GDP per capita (USD) | $10,490 | 2025-12-31 | World Bank |
| Labor force participation | 51.9% | 2025-12-31 | ILO |
| WGI: control of corruption | -0.3 | 2025-12-31 | World Bank |
| WGI: government effectiveness | 0.2 | 2025-12-31 | World Bank |
| WGI: political stability | 0.4 | 2025-12-31 | World Bank |
| WGI: regulatory quality | 0.5 | 2025-12-31 | World Bank |
| WGI: rule of law | -0.1 | 2025-12-31 | World Bank |
| WGI: voice & accountability | 0.2 | 2025-12-31 | World Bank |
Eurostat, © European Union (CC BY 4.0) · Nightlights: World Bank / NASA Black Marble VIIRS (CC BY 4.0)
Follow the moves
Every figure above is recomputed daily from public data, with the source and as-of date shown for each one. The weekly briefing says which scores moved, and why.