2026-09-16
Added · Updated
A benchmark revision of External Sector Statistics (ESS) and Financial Accounts (FA) data will be implemented, covering a longer data period than usual. This includes the revision of 2024 and 2025 data for Balance of Payments (BOP), 2025 data for International Investment Position (IIP) and Foreign Direct Investment, and selected BOP components for time-series data from 1998 to June 2026 (USD) and 2003 to June 2026 (EUR). The most significant change involves allocating cash foreign exchange-net across several balance of payments categories, such as personal remittances and compensation of employees, within the secondary income sub-balance. The revised ESS data will be published on September 23, 2026, and the revised FA data on October 30, 2026, with explanatory notes available on the NBRNM website.
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2026-09-16
Skopje, 16 September 2026
Within the regular annual revision of the External Sector Statistics (ESS) and the publication of the Financial Accounts (FA), a longer data period than usual will be revised. This is part of the benchmark revision, which is usually carried out according to the policy established at the European level for periodic coordinated revision of data in the areas of National Accounts and Balance of Payments (BOP)/International Investment Position (IIP).
The main objective of the revision is to improve data quality by enhancing data coverage and classification, implementing methodological improvements through the introduction of new calculation methods that are in line with international standards, and increasing consistency across different statistics. Furthermore, the implementation of the revision is part of the process of aligning with European regulations and statistical standards.
Besides the regular revision of 2024 and 2025 data for BOP, and 2025 data for IIP and Foreign Direct Investment, revision will also be made on selected components of the BOP for a longer time-series data (1998-6.2026 for US Dollars and 2003-6.2026 for Euros).
The most significant change has been made to the secondary income sub-balance. Within these frames, the cash foreign exchange-net is allocated across several categories of the balance of payments, using an appropriate estimation method. These estimates are reflected in the following components: personal remittances, compensation of employees, capital transfers, travel services, and exports of goods. Moreover, the revision is not expected to result in any significant changes to the current and capital accounts.
From the perspective of the Financial Accounts, the revisions are driven by the need to ensure consistency across the time series, methodological improvements and enhancements of estimation methods, as well as revisions in the underlying primary statistics. The revisions in the Financial Accounts are not expected to have a significant impact on the net financial worth and net lending/borrowing of the total economy. However, certain changes in net financial worth are expected for individual institutional sectors of the economy.
The revision of the ESS will be published on 23 September 2026 and the revision of the FA on 30 October 2026. Together with the publications of data, explanatory notes on the changes made with the regular revision, as well as with the benchmark revision, will be made available on the NBRNM web site.
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Source: National Bank of the Republic of North Macedonia — original document
Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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