FX.co ★ North Macedonia Current Account Widens

Macedonia’s current account deficit widened to USD 312.32 million in the fourth quarter of 2025, up from USD 298.61 million in the same period of the previous year. This was the largest shortfall since the first quarter of 2025. The deterioration was mainly driven by a deeper goods trade deficit, which expanded to USD 1,085.6 million from USD 940.3 million in Q4 2024, and a larger primary income deficit, which increased to USD 233.6 million from USD 213.9 million.

At the same time, the secondary income surplus edged down slightly to USD 701.03 million in Q4 2025, compared with USD 701.3 million a year earlier. By contrast, the services account surplus more than doubled, rising to USD 305.8 million from USD 154.3 million.