North macedonia Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in north macedonia, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Market Overview
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The Republic of North Macedonia is an emerging market. With a population of 1.8 million, this small, land-locked country in Southeastern Europe has made great strides in reforming its economy over the past two decades but remains one of Europe’s poorer countries.

North Macedonia has been committed to securing and furthering its Euro-Atlantic path. In March 2020, the country became the 30th NATO member; and in July 2022, the country held its first Intergovernmental Conference with the European Union, launching accession negotiations. The government has continued to publicly support regional integration efforts and continued to issue procurement tenders. Basic economic and commercial facts about North Macedonia include:

  • Stable currency pegged to the euro
  • NATO Ally and EU candidate country
  • Open economy that welcomes foreign direct investment and trade
  • Sound macroeconomic fundamentals
  • English-speaking workforce
  • Low taxes: 10 percent on corporate income
  • Unemployment rate of 11.5 percent in Q2 2025
  • Most of North Macedonia’s FDI comes from Europe, namely: Germany, Austria, Slovenia, the Netherlands, Greece, and Bulgaria.
  • Competitive wages (average monthly salary of $865 as of April 2025)
  • Upper-middle-income country with per capita income of $8,850 in 2024
  • Average inflation rate of 3.5 percent in 2024
  • Total 2024 trade of $20.4 billion (imports plus exports)
  • Largest trade partners are Germany and Serbia. Other significant partners include Greece, Bulgaria, and the United Kingdom.
  • U.S.– North Macedonia trade in 2024 totaled $234.1 million, of which U.S. exports to North Macedonia were $60.6 million.
  • Member of European Free Trade Agreement (EFTA) and Central European Free Trade Agreement (CEFTA); bilateral Free Trade Agreements with Turkey and Ukraine.   

Political Environment

Visit the State Department’s website for background on the country’s political and economic environment.  

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