Luxembourg vs North Macedonia: Economic Indicators Comparison
Luxembourg with a GDP of $70.9B ranked the 72nd largest economy in the world, while North Macedonia ranked 135th with $12.7B. By GDP 5-years average growth and GDP per capita, Luxembourg and North Macedonia ranked 88th vs 110th and 3rd vs 100th, respectively.
Gross Domestic Product & Income
| Stat |  Luxembourg |  North Macedonia |
|---|---|---|
| GDP | $70.9B | $12.7B |
| GDP growth, 1 year | 3% | 2.7% |
| GDP growth, 5-years average | 3% | 2.6% |
| Population | 626k | 2.1M |
| GDP per capita | $117k | $6.1k |
| GDP per capita growth | 1.18% | 2.62% |
| Purchasing Power Parity conversion factor | 0.87 | 19.38 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 1.03 | 0.37 |
| GDP per capita, PPP adjusted | $107k | $16k |
| GNI, Atlas method | $43.1B | $11.4B |
| GNI per capita | $71k | $5.5k |
| GNI, PPP adjusted | $43.9B | $32.6B |
| GNI per capita, PPP adjusted | $72k | $16k |
Financial system and Human development
| Stat | Luxembourg | North Macedonia |
|---|---|---|
| Income Tax Rate | 42% | 10% |
| Corporate Tax Rate | 18% | 10% |
| Inflation, consumer prices | 2% | 1.5% |
| Inflation, GDP deflator | 2.5% | 4.3% |
| Unemployment | 5.5% | 21.6% |
| Economic Freedom Index | 75.8 | 69.5 |
| Personal Freedom Index | 9.1 | 8.17 |
| Human Freedom Index | 8.46 | 7.55 |
| Property Rights Index | 86.4 | 62.5 |
| Judical Effectiveness Index | 74.4 | 42.7 |
| Business Freedom Index | 66.8 | 80.6 |
| Fiscal Health Index | 99 | 87.7 |
| Labor Freedom Index | 45.3 | 67 |
| Investment Freedom Index | 95 | 65 |
| Financial Freedom Index | 80 | 60 |
| Trade Freedom Index | 86.4 | 86.2 |
| Monetary Freedom Index | 76.4 | 77.7 |
| Government Spending Index | 45.4 | 71 |
| Tax Burden Index | 64.1 | 91.5 |
| Government Integrity Index | 90.3 | 42.2 |
| Corruption Perceptions Index | 81 | 37 |
| Life expectancy at birth, years | 82.7 | 75.6 |
| Suicide mortality rate, per 100,000 people | 13.5 | 7.9 |
| Mortality caused by road traffic injury, per 100,000 people | 6.3 | 6.4 |
| Intentional homicides, per 100,000 people | 0.3 | 1.5 |
| International tourism, number of arrivals | 1M | 707k |
Government debt & reserves
| Stat | Luxembourg | North Macedonia |
|---|---|---|
| Central government debt, % of GDP | 21.8% | 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 | 20.9% | 15.4% |
| Gross savings, % of GDP | 17.4% | 33% |
| Gross capital formation, % of GDP | 17.6% | 33% |
| Total reserves including gold | $938.9M | $3.3B |
| Foreign direct investment net inflows | -$5.6B | $648.7M |
Exports, imports and economic structure
| Stat | Luxembourg | North Macedonia |
|---|---|---|
| Exports of goods and services, % of GDP | 211.6% | 60.3% |
| Imports of goods and services, % of GDP | 175.5% | 72.9% |
| Current account balance (balance of payments) | $3.4B | -$25.6M |
| Revenue excluding grants, % of GDP | 40.9% | 26.8% |
| Grants excluding technical cooperation, BoP | N/A | $133.8M |
| Personal remittances received | $2.1B | $344.5M |
| Industry including construction value added, % of GDP | 11.8% | 23.6% |
| Agriculture, forestry and fishing value added, % of GDP | 0.2% | 7.2% |
| Charges for the use of intellectual property, payments BoP | $5B | $188.8M |
| Charges for the use of intellectual property, receipts BoP | $2.4B | $11.8M |
| Expense, % of GDP | 38.7% | 27.9% |
| Government Expenditure, % of GDP | 42.7% | 31.1% |
