Insurance and financial services in North Macedonia
North Macedonia: Insurance and financial services was 1.1% in 2025. ◆ Volatile
Insurance and financial services in North Macedonia, 1996–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
In 2025, insurance and financial services in North Macedonia stood at 1.1%. That is the lowest value across all 30 years on record.
The figure is down 9.9% on the previous year and down 68.0% over ten years.
Over the whole period, insurance and financial services in North Macedonia peaked at 20.1% in 1996 and was at its lowest, 1.1%, in 2025.
North Macedonia ranks 192nd of 197 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Insurance and financial services in North Macedonia, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1996 | 20.1% | — |
| 1997 | 15.9% | -20.7% |
| 1998 | 3.4% | -78.4% |
| 1999 | 3.4% | -0.2% |
| 2000 | 3.0% | -12.8% |
| 2001 | 4.7% | +58.5% |
| 2002 | 3.2% | -31.5% |
| 2003 | 2.5% | -22.7% |
| 2004 | 1.9% | -23.9% |
| 2005 | 2.6% | +38.1% |
| 2006 | 2.6% | +0.3% |
| 2007 | 1.5% | -44.2% |
| 2008 | 1.4% | -2.5% |
| 2009 | 3.1% | +116.1% |
| 2010 | 3.2% | +2.6% |
| 2011 | 2.6% | -18.5% |
| 2012 | 3.3% | +26.5% |
| 2013 | 3.9% | +18.6% |
| 2014 | 3.9% | +0.4% |
| 2015 | 3.5% | -10.7% |
| 2016 | 3.6% | +4.0% |
| 2017 | 3.4% | -6.5% |
| 2018 | 2.6% | -22.3% |
| 2019 | 2.5% | -4.7% |
| 2020 | 2.7% | +7.8% |
| 2021 | 2.7% | -2.0% |
| 2022 | 2.5% | -4.9% |
| 2023 | 1.5% | -40.3% |
| 2024 | 1.2% | -17.6% |
| 2025 | 1.1% | -9.9% |
North Macedonia compared with similar countries
- North Macedonia's 1.1% is below the median for upper middle income countries, which is 6.2%, 18% of the median. (55 countries reporting)
- North Macedonia's 1.1% is below the median for Europe & Central Asia, which is 5.2%, 22% of the median. (51 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in North Macedonia changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2009 | +116.1% | 1.4% | 3.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 10.7% | 3.4% | 20.1% | 4 |
| 2000s | 2.7% | 1.4% | 4.7% | 10 |
| 2010s | 3.3% | 2.5% | 3.9% | 10 |
| 2020s | 2.0% | 1.1% | 2.7% | 6 |
Countries ranked near North Macedonia
- 189 Chad 1.3%
- 190 Afghanistan 1.3% compare
- 191 Guyana 1.2% compare
- 193 Niger 1.0% compare
- 194 South Sudan 0.9% compare
- 195 Faroe Islands 0.8% compare
More economy & growth data for North Macedonia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 3.63 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 3.5 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 400.07 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0209 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 219.71 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 675.78 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -36.06 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0354 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 371.12 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 10.51 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in North Macedonia?
- Insurance and financial services in North Macedonia was 1.1% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in North Macedonia?
- The highest recorded value was 20.1% in 1996.
- What is the lowest insurance and financial services recorded in North Macedonia?
- The lowest recorded value was 1.1% in 2025.
- How does North Macedonia rank for insurance and financial services?
- North Macedonia ranks 192nd out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in North Macedonia?
- Over the last ten years it is down 68.0%. The long-run trend across the full record is volatile.
- Where does this North Macedonia data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of service imports, BoP). Statizoid updates them automatically from the source API.
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About this data
Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents. This indicator is expressed as a percentage of service imports which are services provided by non-residents to residents.