Italy vs North Macedonia: Economic Indicators Comparison
Italy with a GDP of $2.1T ranked the 8th largest economy in the world, while North Macedonia ranked 135th with $12.7B. By GDP 5-years average growth and GDP per capita, Italy and North Macedonia ranked 154th vs 110th and 29th vs 100th, respectively.
Gross Domestic Product & Income
| Stat |  Italy |  North Macedonia |
|---|---|---|
| GDP | $2.1T | $12.7B |
| GDP growth, 1 year | 0.9% | 2.7% |
| GDP growth, 5-years average | 0.9% | 2.6% |
| Population | 60.3M | 2.1M |
| GDP per capita | $34k | $6.1k |
| GDP per capita growth | 0.95% | 2.62% |
| Purchasing Power Parity conversion factor | 0.7 | 19.38 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.82 | 0.37 |
| GDP per capita, PPP adjusted | $40k | $16k |
| GNI, Atlas method | $2T | $11.4B |
| GNI per capita | $34k | $5.5k |
| GNI, PPP adjusted | $2.6T | $32.6B |
| GNI per capita, PPP adjusted | $42k | $16k |
Financial system and Human development
| Stat | Italy | North Macedonia |
|---|---|---|
| Income Tax Rate | 43% | 10% |
| Corporate Tax Rate | 27.5% | 10% |
| Inflation, consumer prices | 1.2% | 1.5% |
| Inflation, GDP deflator | 0.9% | 4.3% |
| Unemployment | 10.2% | 21.6% |
| Economic Freedom Index | 63.8 | 69.5 |
| Personal Freedom Index | 8.79 | 8.17 |
| Human Freedom Index | 8.01 | 7.55 |
| Property Rights Index | 75.4 | 62.5 |
| Judical Effectiveness Index | 51.3 | 42.7 |
| Business Freedom Index | 70.4 | 80.6 |
| Fiscal Health Index | 71.1 | 87.7 |
| Labor Freedom Index | 50.9 | 67 |
| Investment Freedom Index | 80 | 65 |
| Financial Freedom Index | 50 | 60 |
| Trade Freedom Index | 86.4 | 86.2 |
| Monetary Freedom Index | 83.2 | 77.7 |
| Government Spending Index | 28.5 | 71 |
| Tax Burden Index | 56 | 91.5 |
| Government Integrity Index | 62.2 | 42.2 |
| Corruption Perceptions Index | 52 | 37 |
| Life expectancy at birth, years | 83.2 | 75.6 |
| Suicide mortality rate, per 100,000 people | 8.2 | 7.9 |
| Mortality caused by road traffic injury, per 100,000 people | 5.6 | 6.4 |
| Intentional homicides, per 100,000 people | 0.7 | 1.5 |
| International tourism, number of arrivals | 61.6M | 707k |
Government debt & reserves
| Stat | Italy | North Macedonia |
|---|---|---|
| Central government debt, % of GDP | 132.1% | 39.5% |
| External debt stocks, % of GNI | N/A | 72% |
| External debt stocks | N/A | $8.7B |
| Short-term debt, % of total reserves | N/A | 40.9% |
| Total debt service, % of exports and primary income | N/A | 16.6% |
| Adjusted net savings including particulate emission damage, % of GNI | 6% | 15.4% |
| Gross savings, % of GDP | 20.8% | 33% |
| Gross capital formation, % of GDP | 18.2% | 33% |
| Total reserves including gold | $152.4B | $3.3B |
| Foreign direct investment net inflows | $39.6B | $648.7M |
Exports, imports and economic structure
| Stat | Italy | North Macedonia |
|---|---|---|
| Exports of goods and services, % of GDP | 31.5% | 60.3% |
| Imports of goods and services, % of GDP | 29% | 72.9% |
| Current account balance (balance of payments) | $53.8B | -$25.6M |
| Revenue excluding grants, % of GDP | 37.7% | 26.8% |
| Grants excluding technical cooperation, BoP | N/A | $133.8M |
| Personal remittances received | $9.9B | $344.5M |
| Industry including construction value added, % of GDP | 21.4% | 23.6% |
| Agriculture, forestry and fishing value added, % of GDP | 1.9% | 7.2% |
| Charges for the use of intellectual property, payments BoP | $5.1B | $188.8M |
| Charges for the use of intellectual property, receipts BoP | $4.9B | $11.8M |
| Expense, % of GDP | 41.3% | 27.9% |
| Government Expenditure, % of GDP | 48.8% | 31.1% |
