Georgia vs North Macedonia: Economic Indicators Comparison

Georgia with a GDP of $17.6B ranked the 119th largest economy in the world, while North Macedonia ranked 135th with $12.7B. By GDP 5-years average growth and GDP per capita, Georgia and North Macedonia ranked 54th vs 110th and 111th vs 100th, respectively.

Gross Domestic Product & Income

StatGeorgiaNorth Macedonia
GDP$17.6B$12.7B
GDP growth, 1 year4.7%2.7%
GDP growth, 5-years average4%2.6%
Population3.7M2.1M
GDP per capita$4.7k$6.1k
GDP per capita growth4.72%2.62%
Purchasing Power Parity conversion factor119.38
Price level ratio of PPP conversion factor GDP to market exchange rate0.390.37
GDP per capita, PPP adjusted$11k$16k
GNI, Atlas method$16.6B$11.4B
GNI per capita$4.4k$5.5k
GNI, PPP adjusted$42.9B$32.6B
GNI per capita, PPP adjusted$12k$16k

Financial system and Human development

StatGeorgiaNorth Macedonia
Income Tax Rate20%10%
Corporate Tax Rate15%10%
Inflation, consumer prices2.6%1.5%
Inflation, GDP deflator4.4%4.3%
Unemployment14.1%21.6%
Economic Freedom Index77.169.5
Personal Freedom Index7.48.17
Human Freedom Index7.487.55
Property Rights Index68.662.5
Judical Effectiveness Index57.942.7
Business Freedom Index85.380.6
Fiscal Health Index94.487.7
Labor Freedom Index76.367
Investment Freedom Index8065
Financial Freedom Index7060
Trade Freedom Index88.686.2
Monetary Freedom Index78.377.7
Government Spending Index73.671
Tax Burden Index87.191.5
Government Integrity Index64.842.2
Corruption Perceptions Index5837
Life expectancy at birth, years73.475.6
Suicide mortality rate, per 100,000 people8.27.9
Mortality caused by road traffic injury, per 100,000 people15.36.4
Intentional homicides, per 100,000 people11.5
International tourism, number of arrivals4.8M707k

Government debt & reserves

StatGeorgiaNorth Macedonia
Central government debt, % of GDP44.5%39.5%
External debt stocks, % of GNI110.6%72%
External debt stocks$17.1B$8.7B
Short-term debt, % of total reserves81.1%40.9%
Total debt service, % of exports and primary income23.7%16.6%
Adjusted net savings including particulate emission damage, % of GNI12.5%15.4%
Gross savings, % of GDP21%33%
Gross capital formation, % of GDP28.1%33%
Total reserves including gold$3.3B$3.3B
Foreign direct investment net inflows$1.2B$648.7M

Exports, imports and economic structure

StatGeorgiaNorth Macedonia
Exports of goods and services, % of GDP50.6%60.3%
Imports of goods and services, % of GDP61.2%72.9%
Current account balance (balance of payments)-$1.2B-$25.6M
Revenue excluding grants, % of GDP23%26.8%
Grants excluding technical cooperation, BoP$314.1M$133.8M
Personal remittances received$2B$344.5M
Industry including construction value added, % of GDP19.9%23.6%
Agriculture, forestry and fishing value added, % of GDP6.8%7.2%
Charges for the use of intellectual property, payments BoP$27.1M$188.8M
Charges for the use of intellectual property, receipts BoP$270k$11.8M
Expense, % of GDP21.4%27.9%
Government Expenditure, % of GDP29.6%31.1%

Compare with countries close by GDP per capita

Georgia vs

CountryGDP
per capita
Population
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
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
Tunisia
$3.4k
11.6M

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
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k