Grenada vs North Macedonia: Economic Indicators Comparison
North Macedonia with a GDP of $12.7B ranked the 135th largest economy in the world, while Grenada ranked 183rd with $1.2B. By GDP per capita, North Macedonia and Grenada ranked 100th vs 70th, respectively.
Gross Domestic Product & Income
| Stat |  Grenada |  North Macedonia |
|---|---|---|
| GDP | $1.2B | $12.7B |
| GDP growth, 1 year | 4.18% | 2.7% |
| GDP growth, 5-years average | N/A | 2.6% |
| Population | 108k | 2.1M |
| GDP per capita | $11k | $6.1k |
| GDP per capita growth | 3.64% | 2.62% |
| Purchasing Power Parity conversion factor | 1.85 | 19.38 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.68 | 0.37 |
| GDP per capita, PPP adjusted | $16k | $16k |
| GNI, Atlas method | $1.1B | $11.4B |
| GNI per capita | $9.7k | $5.5k |
| GNI, PPP adjusted | $1.6B | $32.6B |
| GNI per capita, PPP adjusted | $14k | $16k |
Financial system and Human development
| Stat | Grenada | North Macedonia |
|---|---|---|
| Income Tax Rate | N/A | 10% |
| Corporate Tax Rate | N/A | 10% |
| Inflation, consumer prices | 0.8% | 1.5% |
| Inflation, GDP deflator | 1% | 4.3% |
| Unemployment | 22.9% | 21.6% |
| Economic Freedom Index | 63 | 69.5 |
| Personal Freedom Index | 6 | 8.17 |
| Human Freedom Index | 6 | 7.55 |
| Property Rights Index | N/A | 62.5 |
| Judical Effectiveness Index | N/A | 42.7 |
| Business Freedom Index | N/A | 80.6 |
| Fiscal Health Index | N/A | 87.7 |
| Labor Freedom Index | N/A | 67 |
| Investment Freedom Index | N/A | 65 |
| Financial Freedom Index | N/A | 60 |
| Trade Freedom Index | N/A | 86.2 |
| Monetary Freedom Index | N/A | 77.7 |
| Government Spending Index | N/A | 71 |
| Tax Burden Index | N/A | 91.5 |
| Government Integrity Index | N/A | 42.2 |
| Corruption Perceptions Index | 52 | 37 |
| Life expectancy at birth, years | 72.4 | 75.6 |
| Suicide mortality rate, per 100,000 people | 1.7 | 7.9 |
| Mortality caused by road traffic injury, per 100,000 people | 9.3 | 6.4 |
| Intentional homicides, per 100,000 people | 11.1 | 1.5 |
| International tourism, number of arrivals | 185k | 707k |
Government debt & reserves
| Stat | Grenada | North Macedonia |
|---|---|---|
| Central government debt, % of GDP | N/A | 39.5% |
| External debt stocks, % of GNI | 58.8% | 72% |
| External debt stocks | $644.9M | $8.7B |
| Short-term debt, % of total reserves | 50.4% | 40.9% |
| Total debt service, % of exports and primary income | 8.4% | 16.6% |
| Adjusted net savings including particulate emission damage, % of GNI | N/A | 15.4% |
| Gross savings, % of GDP | N/A | 33% |
| Gross capital formation, % of GDP | N/A | 33% |
| Total reserves including gold | $233.8M | $3.3B |
| Foreign direct investment net inflows | $153.7M | $648.7M |
Exports, imports and economic structure
| Stat | Grenada | North Macedonia |
|---|---|---|
| Exports of goods and services, % of GDP | 54.2% | 60.3% |
| Imports of goods and services, % of GDP | 55.2% | 72.9% |
| Current account balance (balance of payments) | -$116.3M | -$25.6M |
| Revenue excluding grants, % of GDP | N/A | 26.8% |
| Grants excluding technical cooperation, BoP | $250k | $133.8M |
| Personal remittances received | $48.5M | $344.5M |
| Industry including construction value added, % of GDP | 13.3% | 23.6% |
| Agriculture, forestry and fishing value added, % of GDP | 5.2% | 7.2% |
| Charges for the use of intellectual property, payments BoP | $9.3M | $188.8M |
| Charges for the use of intellectual property, receipts BoP | $56k | $11.8M |
| Expense, % of GDP | N/A | 27.9% |
| Government Expenditure, % of GDP | N/A | 31.1% |
