North Macedonia: Business freedom

The latest value from 2024 is 70 points, a decline from 74 points in 2023. In comparison, the world average is 62 points, based on data from 175 countries. Historically, the average for North Macedonia from 2002 to 2024 is 70 points. The minimum value, 54 points, was reached in 2006 while the maximum of 83 points was recorded in 2018. See the global rankings or world map for that indicator or use the country comparator to compare trends over time.

The Business Freedom index for North Macedonia from The Heritage Foundation measures the ability to start, operate, and close a business. It reflects the overall burden of regulations and the efficiency of the government of North Macedonia in the regulatory process.

Definition: The Business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study: Starting a business-procedures (number), time (days), cost (% of income per capita), and minimum capital (% of income per capita); Obtaining a license—procedures (number), time (days), and cost (% of income per capita); Closing a business—time (years), cost (% of estate), and recovery rate (cents on the dollar).