Belgium vs North Macedonia: Economic Indicators Comparison

Belgium with a GDP of $542.8B ranked the 24th largest economy in the world, while North Macedonia ranked 135th with $12.7B. By GDP 5-years average growth and GDP per capita, Belgium and North Macedonia ranked 146th vs 110th and 20th vs 100th, respectively.

Gross Domestic Product & Income

StatBelgiumNorth Macedonia
GDP$542.8B$12.7B
GDP growth, 1 year1.4%2.7%
GDP growth, 5-years average1.5%2.6%
Population11.4M2.1M
GDP per capita$48k$6.1k
GDP per capita growth1.04%2.62%
Purchasing Power Parity conversion factor0.7819.38
Price level ratio of PPP conversion factor GDP to market exchange rate0.920.37
GDP per capita, PPP adjusted$48k$16k
GNI, Atlas method$524.4B$11.4B
GNI per capita$46k$5.5k
GNI, PPP adjusted$591B$32.6B
GNI per capita, PPP adjusted$52k$16k

Financial system and Human development

StatBelgiumNorth Macedonia
Income Tax Rate50%10%
Corporate Tax Rate29%10%
Inflation, consumer prices2.3%1.5%
Inflation, GDP deflator1.5%4.3%
Unemployment6.3%21.6%
Economic Freedom Index68.969.5
Personal Freedom Index9.068.17
Human Freedom Index8.287.55
Property Rights Index84.562.5
Judical Effectiveness Index62.542.7
Business Freedom Index75.280.6
Fiscal Health Index7787.7
Labor Freedom Index61.167
Investment Freedom Index8565
Financial Freedom Index7060
Trade Freedom Index86.486.2
Monetary Freedom Index80.577.7
Government Spending Index17.271
Tax Burden Index46.791.5
Government Integrity Index80.242.2
Corruption Perceptions Index7537
Life expectancy at birth, years81.475.6
Suicide mortality rate, per 100,000 people20.77.9
Mortality caused by road traffic injury, per 100,000 people5.86.4
Intentional homicides, per 100,000 people1.71.5
International tourism, number of arrivals9.1M707k

Government debt & reserves

StatBelgiumNorth Macedonia
Central government debt, % of GDP101.4%39.5%
External debt stocks, % of GNIN/A72%
External debt stocksN/A$8.7B
Short-term debt, % of total reservesN/A40.9%
Total debt service, % of exports and primary incomeN/A16.6%
Adjusted net savings including particulate emission damage, % of GNI12%15.4%
Gross savings, % of GDP24.5%33%
Gross capital formation, % of GDP25.5%33%
Total reserves including gold$26.9B$3.3B
Foreign direct investment net inflows-$62.8B$648.7M

Exports, imports and economic structure

StatBelgiumNorth Macedonia
Exports of goods and services, % of GDP82.6%60.3%
Imports of goods and services, % of GDP82.7%72.9%
Current account balance (balance of payments)-$5.3B-$25.6M
Revenue excluding grants, % of GDP38.4%26.8%
Grants excluding technical cooperation, BoPN/A$133.8M
Personal remittances received$12.3B$344.5M
Industry including construction value added, % of GDP19.1%23.6%
Agriculture, forestry and fishing value added, % of GDP0.5%7.2%
Charges for the use of intellectual property, payments BoP$3.7B$188.8M
Charges for the use of intellectual property, receipts BoP$4.4B$11.8M
Expense, % of GDP39.6%27.9%
Government Expenditure, % of GDP52.5%31.1%

Compare with countries close by GDP per capita

Belgium vs

CountryGDP
per capita
Population
Norway
$82k
5.37M
Cayman Islands
$81k
58.4k
Ireland
$79k
4.76M
Iceland
$73k
357k
Qatar
$69k
2.64M
Singapore
$65k
5.89M
United States
$63k
325M
Denmark
$61k
5.83M
Australia
$57k
24.5M
Sweden
$55k
10.3M
Netherlands
$53k
17.3M
Austria
$51k
8.81M
Finland
$50k
5.5M
San Marino
$48k
33.4k
Germany
$48k
83.1M
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
United Kingdom
$43k
66M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.3M
Kuwait
$34k
4.6M
Bahamas
$32k
395k
Brunei
$32k
429k
South Korea
$31k
51.5M
Spain
$30k
46.7M
Malta
$30k
465k

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
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M