North Macedonia: Financial institutions development, depth

The latest value from 2021 is 0.23 index points, an increase from 0.224 index points in 2020. In comparison, the world average is 0.291 index points, based on data from 175 countries. Historically, the average for North Macedonia from 1992 to 2021 is 0.156 index points. The minimum value, 0.095 index points, was reached in 2003 while the maximum of 0.23 index points was recorded in 2021. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: Measures the development of financial institutions in terms of depth. Constructed as a principal component of the following variables: Private-sector credit to GDP; Pension fund assets to GDP; Mutual fund assets to GDP; and Insurance premiums, life and non-life, to GDP. See Svirydzenka, Katsiaryna (IMF, 2016) for more detail.