North Macedonia vs Norway: Economic Indicators Comparison
Norway with a GDP of $434.2B ranked the 30th largest economy in the world, while North Macedonia ranked 135th with $12.7B. By GDP 5-years average growth and GDP per capita, Norway and North Macedonia ranked 142nd vs 110th and 5th vs 100th, respectively.
Gross Domestic Product & Income
| Stat |  North Macedonia |  Norway |
|---|---|---|
| GDP | $12.7B | $434.2B |
| GDP growth, 1 year | 2.7% | 1.4% |
| GDP growth, 5-years average | 2.6% | 1.7% |
| Population | 2.1M | 5.4M |
| GDP per capita | $6.1k | $82k |
| GDP per capita growth | 2.62% | 0.58% |
| Purchasing Power Parity conversion factor | 19.38 | 10.14 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.37 | 1.25 |
| GDP per capita, PPP adjusted | $16k | $74k |
| GNI, Atlas method | $11.4B | $428.4B |
| GNI per capita | $5.5k | $81k |
| GNI, PPP adjusted | $32.6B | $363B |
| GNI per capita, PPP adjusted | $16k | $68k |
Financial system and Human development
| Stat | North Macedonia | Norway |
|---|---|---|
| Income Tax Rate | 10% | 47.8% |
| Corporate Tax Rate | 10% | 22% |
| Inflation, consumer prices | 1.5% | 2.8% |
| Inflation, GDP deflator | 4.3% | 5.8% |
| Unemployment | 21.6% | 3.9% |
| Economic Freedom Index | 69.5 | 73.4 |
| Personal Freedom Index | 8.17 | 9.55 |
| Human Freedom Index | 7.55 | 8.61 |
| Property Rights Index | 62.5 | 84.3 |
| Judical Effectiveness Index | 42.7 | 82.8 |
| Business Freedom Index | 80.6 | 86.1 |
| Fiscal Health Index | 87.7 | 97.3 |
| Labor Freedom Index | 67 | 57.4 |
| Investment Freedom Index | 65 | 75 |
| Financial Freedom Index | 60 | 60 |
| Trade Freedom Index | 86.2 | 83.8 |
| Monetary Freedom Index | 77.7 | 74.8 |
| Government Spending Index | 71 | 25.6 |
| Tax Burden Index | 91.5 | 57.7 |
| Government Integrity Index | 42.2 | 95.6 |
| Corruption Perceptions Index | 37 | 84 |
| Life expectancy at birth, years | 75.6 | 82.5 |
| Suicide mortality rate, per 100,000 people | 7.9 | 12.2 |
| Mortality caused by road traffic injury, per 100,000 people | 6.4 | 2.7 |
| Intentional homicides, per 100,000 people | 1.5 | 0.5 |
| International tourism, number of arrivals | 707k | 5.7M |
Government debt & reserves
| Stat | North Macedonia | Norway |
|---|---|---|
| Central government debt, % of GDP | 39.5% | 36.8% |
| External debt stocks, % of GNI | 72% | N/A |
| External debt stocks | $8.7B | N/A |
| Short-term debt, % of total reserves | 40.9% | N/A |
| Total debt service, % of exports and primary income | 16.6% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | 15.4% | 16.9% |
| Gross savings, % of GDP | 33% | 35.9% |
| Gross capital formation, % of GDP | 33% | 27.3% |
| Total reserves including gold | $3.3B | $63.1B |
| Foreign direct investment net inflows | $648.7M | -$17.4B |
Exports, imports and economic structure
| Stat | North Macedonia | Norway |
|---|---|---|
| Exports of goods and services, % of GDP | 60.3% | 38.4% |
| Imports of goods and services, % of GDP | 72.9% | 32.6% |
| Current account balance (balance of payments) | -$25.6M | $31.4B |
| Revenue excluding grants, % of GDP | 26.8% | 47.4% |
| Grants excluding technical cooperation, BoP | $133.8M | N/A |
| Personal remittances received | $344.5M | $644.3M |
| Industry including construction value added, % of GDP | 23.6% | 32% |
| Agriculture, forestry and fishing value added, % of GDP | 7.2% | 1.9% |
| Charges for the use of intellectual property, payments BoP | $188.8M | $768.9M |
| Charges for the use of intellectual property, receipts BoP | $11.8M | $515.2M |
| Expense, % of GDP | 27.9% | 37.7% |
| Government Expenditure, % of GDP | 31.1% | 49.8% |
