At the end of January 2026, foreign reserves amounted to Euro 5,600.5 million. The largest part of the foreign reserves are placed in Securities (74.8%), followed by Monetary Gold (16.8%) and Currency and Deposits (8.4%).
This is a quite high amount and also shows the steady improvement of the reserves. Only end of August 2025 the reserves were slightly higher. The total amount varies throughout the year, depending on large credit inflows or outflows, but also consumer imports around Christmas or similar events. In average, the FX reserves grew by 7,6 % yoy (93 % in total) from Jan. 2017 to Dec. 2025.
There is a small “but” on this tendency: for the first time, the FX reserves year end 2025 versus year-end 2024 did not grow but retracted slightly. To be seen how this develops in 2026: if the long-term improvement remains stable, or if the contraction of international trade will also have an influence on the country.
Official reserve assets are external assets that are readily available to and controlled by monetary authorities for meeting the balance of payments financing needs, for intervention in exchange markets to affect the currency exchange rate, and/or for other related purposes.
Belgian-Macedonian Business Club 
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