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Economy of Bangladesh vs North Macedonia compared: GDP & Debt

Updated on by Georank team

Bangladesh has a GDP of $450B compared to $17B for North Macedonia, ranking 36/197 and 138/197 by economy size, respectively.

Bangladesh has $184B in government debt (41% of GDP), compared to $9.3B (54.8% of GDP) in North Macedonia.

Bangladesh vs North Macedonia GDP by year

Bangladesh
North Macedonia
1x
Year GDP, current $
Bangladesh North Macedonia
2024 $450,119,432,069 $16,951,682,245
2023 $437,415,333,018 $15,855,131,189
2022 $460,131,689,083 $13,932,436,550
2021 $416,271,647,911 $14,000,283,827
2020 $373,979,442,362 $12,361,036,914
2019 $351,231,654,604 $12,606,338,449
2018 $321,362,752,442 $12,683,068,114
2017 $293,732,446,625 $11,307,067,070
2016 $265,224,515,675 $10,672,467,073
2015 $195,146,608,978 $10,064,519,963
2014 $172,886,611,654 $11,362,265,253
2013 $149,998,957,434 $10,817,702,346
2012 $133,310,747,603 $9,745,261,301
2011 $128,607,482,310 $10,494,626,768
2010 $115,275,540,051 $9,407,170,321
2009 $102,475,158,191 $9,401,736,825
2008 $91,636,997,371 $9,909,552,435
2007 $79,611,644,975 $8,336,474,974
2006 $71,795,736,172 $6,861,226,972
2005 $69,476,001,239 $6,258,602,873
2004 $65,108,544,250 $5,682,784,472
2003 $60,158,929,188 $4,946,296,599
2002 $54,724,081,491 $4,018,365,747
2001 $53,991,289,844 $3,709,636,031
2000 $53,369,787,319 $3,772,859,034
1999 $51,270,569,884 $3,863,619,285
1998 $49,984,559,471 $3,765,745,023
1997 $48,244,309,133 $3,912,986,091
1996 $46,438,484,108 $4,642,021,256
1995 $37,939,748,769 $4,707,041,315
1994 $33,768,660,883 $3,559,608,640
1993 $33,166,519,418 $2,682,456,897
1992 $31,708,874,594 $2,436,849,342
1991 $30,957,483,950 $4,938,775,510
1990 $31,598,340,778 $4,699,646,643
1989 $28,781,715,189 -
1988 $26,579,005,558 -
1987 $24,298,032,258 -
1986 $21,774,033,333 -
1985 $22,278,423,077 -
1984 $18,920,840,000 -
1983 $17,609,048,822 -
1982 $18,525,399,202 -
1981 $20,249,694,002 -
1980 $18,138,049,096 -
1979 $15,565,480,322 -
1978 $13,281,767,143 -
1977 $9,651,149,302 -
1976 $10,117,113,333 -
1975 $19,448,348,073 -
1974 $12,512,460,520 -
1973 $8,086,725,729 -
1972 $6,288,245,867 -
1971 $8,751,843,188 -
1970 $8,992,722,167 -
1969 $8,471,006,438 -
1968 $7,483,685,771 -
1967 $7,253,575,688 -
1966 $6,439,687,854 -
1965 $5,906,636,792 -
1964 $5,386,054,833 -
1963 $5,319,458,563 -
1962 $5,081,413,542 -
1961 $4,817,580,375 -
1960 $4,274,894,083 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/bangladesh/north-macedonia | CC BY

GDP per capita in Bangladesh vs North Macedonia by year

Bangladesh
GDP per capita

GDP per capita, PPP
North Macedonia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bangladesh North Macedonia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,593 $9,647 $9,292 $26,995
2023 $2,551 $9,148 $8,674 $25,354
2022 $2,716 $8,451 $7,606 $24,212
2021 $2,483 $7,441 $7,621 $22,144
2020 $2,249 $6,641 $6,660 $19,962
2019 $2,130 $6,047 $6,719 $20,223
2018 $1,965 $5,490 $6,714 $18,460
2017 $1,811 $4,883 $5,955 $17,161
2016 $1,649 $4,579 $5,598 $16,458
2015 $1,224 $4,212 $5,263 $15,034
2014 $1,094 $3,973 $5,925 $14,485
2013 $958 $3,691 $5,626 $13,663
2012 $860 $3,434 $5,050 $12,726
2011 $837 $3,051 $5,417 $12,421
2010 $757 $2,834 $4,833 $11,992
2009 $679 $2,675 $4,800 $11,532
2008 $613 $2,555 $5,026 $10,924
2007 $538 $2,388 $4,204 $9,639
2006 $490 $2,195 $3,440 $8,888
2005 $480 $2,020 $3,121 $7,972
2004 $456 $1,862 $2,819 $7,229
2003 $427 $1,746 $2,445 $6,608
2002 $394 $1,659 $1,989 $6,395
2001 $395 $1,598 $1,823 $6,051
2000 $397 $1,512 $1,862 $6,154
1999 $388 $1,430 $1,915 $5,724
1998 $386 $1,373 $1,876 $5,448
1997 $379 $1,315 $1,960 $5,227
1996 $372 $1,261 $2,307 $5,026
1995 $309 $1,206 $2,355 $4,912
1994 $280.6 $1,145 $1,786 $4,880
1993 $280.8 $1,099 $1,337 $4,829
1992 $273.5 $1,045 $1,199 $5,033
1991 $272.1 $987 $2,402 $5,207
1990 $283.1 $941 $2,277 $5,348
1989 $263 - - -
1988 $247.9 - - -
1987 $231.5 - - -
1986 $212.1 - - -
1985 $222.2 - - -
1984 $193.4 - - -
1983 $184.7 - - -
1982 $199.6 - - -
1981 $224.2 - - -
1980 $206.1 - - -
1979 $181.1 - - -
1978 $158.3 - - -
1977 $117.9 - - -
1976 $126.7 - - -
1975 $249.8 - - -
1974 $165 - - -
1973 $109.7 - - -
1972 $87.8 - - -
1971 $124.5 - - -
1970 $130.2 - - -
1969 $125.9 - - -
1968 $114.4 - - -
1967 $114.2 - - -
1966 $104.4 - - -
1965 $98.6 - - -
1964 $92.6 - - -
1963 $94.1 - - -
1962 $92.6 - - -
1961 $90.4 - - -
1960 $82.5 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/bangladesh/north-macedonia | CC BY

Bangladesh's GDP per capita is $2,593, ranking 146/197, compared to $9,292 in North Macedonia, ranking 88/197. Adjusted for purchasing power (GDP per capita PPP), Bangladesh ranks 135th at $9,647, while North Macedonia ranks 78th at $26,995.

Economic indicators

Bangladesh North Macedonia
Gross domestic product
$450B
2024
$17B
2024
GDP rank
36/197
2024
138/197
2024
GDP growth
4.22%
2023-2024
2.99%
2023-2024
GDP per capita
$2,593
2024
$9,292
2024
GDP per capita rank
146/197
2024
88/197
2024
GDP per capita, PPP
$9,647
2024
$26,995
2024
GDP per capita PPP rank
135/197
2024
78/197
2024
Government debt
$184B
2024
$9.3B
2024
Debt-to-GDP ratio
41%
2024
54.8%
2024
Government debt per person
$1,063
2024
$5,095
2024
Government debt per person rank
139/185
2024
77/185
2024
Average annual personal income after taxes
$2,222
2026
$7,534
2026
Market capitalization of domestic companies
$87.9B
2024
n/a
Income share by richest 10%
25.5%
2022
22.9%
2019
Income share by poorest 10%
3.7%
2022
1.9%
2019
Government expenditure, % of GDP
12%
2024
36.7%
2024
Consumer prices inflation
9.7%
2023-2024
3.5%
2023-2024
Central bank interest rate
10%
2024
5.35%
2025
Unemployment rate
3.64%
2024
12.3%
2024
Population
178415186
1805954

Spending and national debt comparison by year

Bangladesh
Spending

Debt
North Macedonia
Spending

Debt
1x
Year % of GDP
Bangladesh North Macedonia
Government spending Government debt Government spending Government debt
2024 12% 41% 36.7% 54.8%
2023 12.6% 39.7% 35.5% 50.8%
2022 13% 37.9% 35% 50.4%
2021 12.9% 35.6% 35.3% 52.7%
2020 13.3% 34.5% 36.4% 50.8%
2019 13.6% 32% 31.4% 40.4%
2018 13% 29.6% 30.3% 40.4%
2017 12.2% 28.3% 31.8% 39.4%
2016 11.6% 27.7% 31.1% 39.7%
2015 11.5% 28.2% 32.2% 38%
2014 11.7% 28.7% 31.7% 38%
2013 12.1% 28.3% 31.7% 34%
2012 11.7% 29.1% 33.3% 33.7%
2011 11.5% 29.4% 31.9% 27.7%
2010 10.6% 29.6% 32.5% 24.3%
2009 10.6% 33% 33.6% 23.7%
2008 11.5% 33.9% 33.8% 20.6%
2007 9.63% 35% 31.4% 23.5%
2006 10.1% 35.3% 31.5% 30.6%
2005 10.3% 35.6% 32.5% 36.7%
2004 9.88% 36.6% 34.1% 34.6%
2003 10.2% 37% 36% 36.5%
2002 10.4% 38.9% 38.2% 40.5%
2001 10.7% 37.1% 37.4% 45.2%
2000 9.76% 31.2% 32% 45.6%
1999 8.66% 32.7% 33.2% 30.4%
1998 9.82% 31.1% 32.8% 33.1%
1997 9.89% 29.1% 32.9% 29.3%
1996 9.79% 31% - -
1995 10.5% 32.9% - -
1994 10% 35.5% - -
1993 9.74% 34.1% - -
1992 8.8% 33.1% - -
1991 8.86% 31.8% - -
1990 9.14% 31.5% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–2002, retrieved 2026-02-20).

GeoRank.org/economy/bangladesh/north-macedonia | CC BY

In 2024, Bangladesh's government spending was $54.2B, accounting for 12% of its GDP, while North Macedonia spent $6.23B, or 36.7% of GDP.

Debt-to-GDP ratio is 41% in Bangladesh and 54.8% in North Macedonia, ranking 131/185 and 96/185, respectively.

Government deficit by year

Deficit/surplus
Bangladesh

North Macedonia
1x
Year Deficit/surplus, % of GDP
Bangladesh North Macedonia
2024 -3.69% -4.45%
2023 -4.39% -4.61%
2022 -4.53% -5.23%
2021 -3.56% -5.32%
2020 -4.84% -8.05%
2019 -5.41% -1.97%
2018 -4.07% -1.76%
2017 -4.17% -2.73%
2016 -3.16% -2.7%
2015 -3.29% -3.48%
2014 -2.62% -4.19%
2013 -2.86% -3.84%
2012 -2.56% -3.81%
2011 -2.96% -2.47%
2010 -2.23% -2.41%
2009 -2.68% -2.63%
2008 -3.36% -0.93%
2007 -1.86% 0.58%
2006 -2.15% -0.51%
2005 -2.4% 0.21%
2004 -2.21% 0.37%
2003 -1.96% -0.07%
2002 -2.3% -5.24%
2001 -3.44% -5.88%
2000 -2.5% 2.37%
1999 -1.35% 0.03%
1998 -2.2% -1.63%
1997 -1.94% -0.36%
1996 -2.01% -
1995 -0.38% -
1994 0.03% -
1993 0.43% -
1992 0.36% -
1991 0.44% -
1990 -0.15% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/bangladesh/north-macedonia | CC BY

In 2024, Bangladesh's government deficit, the difference between spending and revenue, was $16.6B, equivalent to 3.69% of GDP. This compares to North Macedonia's deficit of $754M, or 4.45% of GDP.

Over the past 28 years, Bangladesh recorded a fiscal deficit in 28 of those years, while North Macedonia ran a deficit in 23 years. On average, Bangladesh posted an annual deficit equal to 3.02% of GDP, compared to deficit of 2.52% of GDP for North Macedonia.

Inflation comparison by year

Inflation
Bangladesh

North Macedonia
1x
Year Consumer prices inflation
Bangladesh North Macedonia
2024 9.7% 3.5%
2023 9% 9.4%
2022 6.1% 14.2%
2021 5.6% 3.2%
2020 5.6% 1.2%
2019 5.5% 0.8%
2018 5.8% 1.5%
2017 5.4% 1.4%
2016 5.9% -0.2%
2015 6.4% -0.3%
2014 7.3% -0.3%
2013 6.8% 2.8%
2012 8.9% 3.3%
2011 8.8% 3.9%
2010 7.3% 1.5%
2009 6.7% -0.7%
2008 9.9% 8.3%
2007 7.2% 2.3%
2006 7.2% 3.2%
2005 6.5% 0.5%
2004 8.1% -0.4%
2003 3.9% 0.9%
2002 2.4% 1.1%
2001 1.8% 5.2%
2000 3.6% 6.6%
1999 8.9% -1.3%
1998 6.7% 0.5%
1997 2.7% 1.3%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/bangladesh/north-macedonia | CC BY

Over the past 28 years, Bangladesh has recorded an average annual inflation rate of 6.42%, compared with 2.62% in North Macedonia. In 2024, inflation was 9.7% in Bangladesh and 3.5% in North Macedonia.

Top exports between countries

Bangladesh
Export category Export value
Chemicals & pharma $21K
Textiles & consumer goods $2K
North Macedonia
Export category Export value
Processed food, beverages & tobacco $41K
Raw materials & minerals $14K
Raw agricultural goods $4K

Balance of trade

Bangladesh North Macedonia
Current account balance
$1.43B
2024
-$356M
2024
Current account balance ranking
52/190
2024
102/190
2024
Current account balance, % of GDP
+0.32%
2024
-2.1%
2024
Goods imports
$63.8B
2024
$10.6B
2024
Goods exports
$47.3B
2024
$7.3B
2024
Service imports
$12.3B
2024
$2.01B
2024
Service exports
$7.47B
2024
$3.16B
2024
Imports of goods and services, % of GDP
16.3%
2024
74.6%
2024
Exports of goods and services, % of GDP
10.5%
2024
61.7%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Bangladesh North Macedonia
Economic freedom 54.8 63.3
Economic freedom ranking 131/197 81/197
Property rights 32.1 56.2
Government integrity 22.7 43.2
Judicial effectiveness 36.7 49.5
Tax burden 79.9 94.9
Government spending 95.3 61.7
Fiscal health 68.4 57.7
Business freedom 52.7 72.2
Labor freedom 50.5 51.4
Monetary freedom 65.8 69.6
Trade freedom 63 77.8
Investment freedom 50 65
Financial freedom 40 60

Economic freedom comparison by year

Bangladesh
North Macedonia
1x
Year Economic freedom index
Bangladesh North Macedonia
2026 54.8 63.3
2025 54.7 63.2
2024 54.4 61.4
2023 54.4 63.7
2022 52.7 65.7
2021 56.5 68.6
2020 56.4 69.5
2019 55.6 71.1
2018 55.1 71.3
2017 55 70.7
2016 53.3 67.5
2015 53.9 67.1
2014 54.1 68.6
2013 52.6 68.2
2012 53.2 68.5
2011 53 66
2010 51.1 65.7
2009 47.5 61.2
2008 44.2 61.1
2007 46.7 60.6
2006 52.9 59.2
2005 47.5 56.1
2004 50 56.8
2003 49.3 60.1
2002 51.9 58
2001 51.2 -
2000 48.9 -
1999 50 -
1998 52 -
1997 49.9 -
1996 51.1 -
1995 40.9 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/bangladesh/north-macedonia | CC BY

The Economic Freedom Index for Bangladesh is 54.8, ranking 131/197, compared to 63.3 for North Macedonia, ranking 81/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bangladesh North Macedonia
Services, % of GDP
51.4%
2024
56.2%
2024
Industry, % of GDP
34.1%
2024
24.1%
2024
Agriculture, forestry, and fishing, % of GDP
11.2%
2024
6.08%
2024
GNI, Atlas method
$490B
2024
$15.1B
2024
GNI per capita, PPP
$10,060
2024
$25,610
2024
Total reserves including gold
$21.4B
2024
$5.25B
2024
Total reserves ranking
61/177
2024
97/177
2024
Net foreign direct investment
-$1.49B
2024
-$1.12B
2024
Net inflows of foreign direct investment
$1.31B
2024
$1.06B
2024
Net outflows of foreign direct investment
$34.1M
2024
-$64.9M
2024
Servicing debt to the IMF, % of GNI
1.83%
2024
9.59%
2024
Poverty at national poverty lines
18.7%
2022
22.2%
2022
Gross capital formation, % of GDP
30.7%
2024
30.6%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/bangladesh/north-macedonia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1990–2002, retrieved 2026-02-20)
  6. TradeMap (2015–2022, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.