Azerbaijan vs North Macedonia: Economic Indicators Comparison

Azerbaijan with a GDP of $46.9B ranked the 88th largest economy in the world, while North Macedonia ranked 135th with $12.7B. By GDP 5-years average growth and GDP per capita, Azerbaijan and North Macedonia ranked 164th vs 110th and 110th vs 100th, respectively.

Gross Domestic Product & Income

StatAzerbaijanNorth Macedonia
GDP$46.9B$12.7B
GDP growth, 1 year1.4%2.7%
GDP growth, 5-years average0.4%2.6%
Population10M2.1M
GDP per capita$4.7k$6.1k
GDP per capita growth0.51%2.62%
Purchasing Power Parity conversion factor0.4419.38
Price level ratio of PPP conversion factor GDP to market exchange rate0.260.37
GDP per capita, PPP adjusted$18k$16k
GNI, Atlas method$40.3B$11.4B
GNI per capita$4.1k$5.5k
GNI, PPP adjusted$170B$32.6B
GNI per capita, PPP adjusted$17k$16k

Financial system and Human development

StatAzerbaijanNorth Macedonia
Income Tax Rate25%10%
Corporate Tax Rate20%10%
Inflation, consumer prices2.3%1.5%
Inflation, GDP deflator11.9%4.3%
Unemployment5.2%21.6%
Economic Freedom Index69.369.5
Personal Freedom Index6.738.17
Human Freedom Index6.447.55
Property Rights Index67.162.5
Judical Effectiveness Index53.942.7
Business Freedom Index80.880.6
Fiscal Health Index99.287.7
Labor Freedom Index66.267
Investment Freedom Index7065
Financial Freedom Index6060
Trade Freedom Index74.686.2
Monetary Freedom Index69.877.7
Government Spending Index6371
Tax Burden Index8891.5
Government Integrity Index38.742.2
Corruption Perceptions Index2537
Life expectancy at birth, years72.775.6
Suicide mortality rate, per 100,000 people2.67.9
Mortality caused by road traffic injury, per 100,000 people8.76.4
Intentional homicides, per 100,000 people21.5
International tourism, number of arrivals2.6M707k

Government debt & reserves

StatAzerbaijanNorth Macedonia
Central government debt, % of GDP19.4%39.5%
External debt stocks, % of GNI36.4%72%
External debt stocks$16.2B$8.7B
Short-term debt, % of total reserves8.5%40.9%
Total debt service, % of exports and primary income10.5%16.6%
Adjusted net savings including particulate emission damage, % of GNI9.5%15.4%
Gross savings, % of GDP33%33%
Gross capital formation, % of GDP20.1%33%
Total reserves including gold$6.7B$3.3B
Foreign direct investment net inflows$1.4B$648.7M

Exports, imports and economic structure

StatAzerbaijanNorth Macedonia
Exports of goods and services, % of GDP54.3%60.3%
Imports of goods and services, % of GDP37.7%72.9%
Current account balance (balance of payments)$6.1B-$25.6M
Revenue excluding grants, % of GDP35.1%26.8%
Grants excluding technical cooperation, BoP$45.7M$133.8M
Personal remittances received$1.2B$344.5M
Industry including construction value added, % of GDP52.2%23.6%
Agriculture, forestry and fishing value added, % of GDP5.3%7.2%
Charges for the use of intellectual property, payments BoP$28.2M$188.8M
Charges for the use of intellectual property, receipts BoP$28k$11.8M
Expense, % of GDP28%27.9%
Government Expenditure, % of GDP35.1%31.1%

Compare with countries close by GDP per capita

Azerbaijan vs

CountryGDP
per capita
Population
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M
Indonesia
$3.9k
264M
Marshall Islands
$3.8k
53.1k
Tuvalu
$3.7k
11.2k
Cape Verde
$3.6k
546k
Bolivia
$3.5k
11.1M

North Macedonia vs

CountryGDP
per capita
Population
Dominican Republic
$8.1k
10.4M
Gabon
$8k
2.03M
Dominica
$7.7k
73.9k
Saint Vincent
$7.4k
110k
Thailand
$7.3k
65.9M
Serbia
$7.2k
7.02M
Libya
$7.2k
6.68M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k