Macedonia Grew 4.3% in the Second Quarter — Construction at 21.9% Drives the Growth, and Imports Are Rising Faster Than Exports
GDP in the second quarter of 2026 grew 4.3 percent year on year (3.1 in the first), investment jumped 16.5 percent, while agriculture and public administration fell.
Macedonia’s gross domestic product in the second quarter of 2026 grew 4.3 percent year on year, after 3.1 percent in the first. On a seasonally adjusted quarterly basis, growth rose to 1.3 percent from 0.4 percent, according to data published on September 3.
Growth is led by investment (gross investment +16.5 percent) and household spending (+3.3 percent). The largest gains are in construction (+21.9 percent), manufacturing (+4.1 percent) and mining (+3.9 percent). Exports rose 10.4 percent, but imports 12.5 percent, meaning foreign trade is not the only engine. Final consumption (+2.8 percent) and public spending (+0.8 percent) slowed.
Against the trend are agriculture (−0.1 percent) and public administration and defense (−1.3 percent). The source does not draw a conclusion on whether the growth is sustainable, and construction at 21.9 percent may reflect a jump from a low base and large public projects — which this source does not explain.
MKNews Hub · Macedonia · October 12, 2026
