Estonia vs North Macedonia: Economic Indicators Comparison

Estonia with a GDP of $30.7B ranked the 102nd largest economy in the world, while North Macedonia ranked 135th with $12.7B. By GDP 5-years average growth and GDP per capita, Estonia and North Macedonia ranked 71st vs 110th and 42nd vs 100th, respectively.

Gross Domestic Product & Income

StatEstoniaNorth Macedonia
GDP$30.7B$12.7B
GDP growth, 1 year3.9%2.7%
GDP growth, 5-years average3.4%2.6%
Population1.3M2.1M
GDP per capita$23k$6.1k
GDP per capita growth4.48%2.62%
Purchasing Power Parity conversion factor0.5519.38
Price level ratio of PPP conversion factor GDP to market exchange rate0.650.37
GDP per capita, PPP adjusted$34k$16k
GNI, Atlas method$27.9B$11.4B
GNI per capita$21k$5.5k
GNI, PPP adjusted$46.2B$32.6B
GNI per capita, PPP adjusted$35k$16k

Financial system and Human development

StatEstoniaNorth Macedonia
Income Tax Rate20%10%
Corporate Tax Rate20%10%
Inflation, consumer prices3.4%1.5%
Inflation, GDP deflator4.5%4.3%
Unemployment5.5%21.6%
Economic Freedom Index77.769.5
Personal Freedom Index9.048.17
Human Freedom Index8.447.55
Property Rights Index83.262.5
Judical Effectiveness Index73.742.7
Business Freedom Index73.580.6
Fiscal Health Index99.987.7
Labor Freedom Index57.367
Investment Freedom Index9065
Financial Freedom Index7060
Trade Freedom Index86.486.2
Monetary Freedom Index78.677.7
Government Spending Index53.371
Tax Burden Index81.191.5
Government Integrity Index85.942.2
Corruption Perceptions Index7337
Life expectancy at birth, years77.675.6
Suicide mortality rate, per 100,000 people17.87.9
Mortality caused by road traffic injury, per 100,000 people6.16.4
Intentional homicides, per 100,000 people2.21.5
International tourism, number of arrivals3.2M707k

Government debt & reserves

StatEstoniaNorth Macedonia
Central government debt, % of GDP8.1%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 GNI15.2%15.4%
Gross savings, % of GDP28.2%33%
Gross capital formation, % of GDP26.2%33%
Total reserves including gold$755M$3.3B
Foreign direct investment net inflows$1.2B$648.7M

Exports, imports and economic structure

StatEstoniaNorth Macedonia
Exports of goods and services, % of GDP74.3%60.3%
Imports of goods and services, % of GDP70.7%72.9%
Current account balance (balance of payments)$612.4M-$25.6M
Revenue excluding grants, % of GDP34.8%26.8%
Grants excluding technical cooperation, BoP$120.3M$133.8M
Personal remittances received$566.5M$344.5M
Industry including construction value added, % of GDP24.1%23.6%
Agriculture, forestry and fishing value added, % of GDP2.7%7.2%
Charges for the use of intellectual property, payments BoP$64.7M$188.8M
Charges for the use of intellectual property, receipts BoP$15.9M$11.8M
Expense, % of GDP35%27.9%
Government Expenditure, % of GDP39.4%31.1%

Compare with countries close by GDP per capita

Estonia vs

CountryGDP
per capita
Population
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
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M
Barbados
$18k
286k
Latvia
$18k
1.91M
Uruguay
$17k
3.46M
Trinidad and Tobago
$17k
1.37M
Antigua and Barbuda
$17k
102k
Seychelles
$16k
95.8k
Oman
$16k
4.83M
Hungary
$16k
9.94M

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