North Macedonia vs Paraguay: Economic Indicators Comparison

Paraguay with a GDP of $40.5B ranked the 94th largest economy in the world, while North Macedonia ranked 135th with $12.7B. By GDP 5-years average growth and GDP per capita, Paraguay and North Macedonia ranked 50th vs 110th and 104th vs 100th, respectively.

Gross Domestic Product & Income

StatNorth MacedoniaParaguay
GDP$12.7B$40.5B
GDP growth, 1 year2.7%3.7%
GDP growth, 5-years average2.6%4.2%
Population2.1M6.8M
GDP per capita$6.1k$5.8k
GDP per capita growth2.62%2.35%
Purchasing Power Parity conversion factor19.382453.78
Price level ratio of PPP conversion factor GDP to market exchange rate0.370.43
GDP per capita, PPP adjusted$16k$13k
GNI, Atlas method$11.4B$39.4B
GNI per capita$5.5k$5.7k
GNI, PPP adjusted$32.6B$91.9B
GNI per capita, PPP adjusted$16k$13k

Financial system and Human development

StatNorth MacedoniaParaguay
Income Tax Rate10%10%
Corporate Tax Rate10%10%
Inflation, consumer prices1.5%4%
Inflation, GDP deflator4.3%2.1%
Unemployment21.6%4.7%
Economic Freedom Index69.563
Personal Freedom Index8.177.3
Human Freedom Index7.557.02
Property Rights Index62.544.7
Judical Effectiveness Index42.726.4
Business Freedom Index80.660.9
Fiscal Health Index87.798
Labor Freedom Index6729
Investment Freedom Index6575
Financial Freedom Index6060
Trade Freedom Index86.275.4
Monetary Freedom Index77.772.5
Government Spending Index7188.6
Tax Burden Index91.596.1
Government Integrity Index42.229.6
Corruption Perceptions Index3729
Life expectancy at birth, years75.674
Suicide mortality rate, per 100,000 people7.99.5
Mortality caused by road traffic injury, per 100,000 people6.422.7
Intentional homicides, per 100,000 people1.59.3
International tourism, number of arrivals707k1.2M

Government debt & reserves

StatNorth MacedoniaParaguay
Central government debt, % of GDP39.5%21.6%
External debt stocks, % of GNI72%39.9%
External debt stocks$8.7B$15.8B
Short-term debt, % of total reserves40.9%60%
Total debt service, % of exports and primary income16.6%15.7%
Adjusted net savings including particulate emission damage, % of GNI15.4%14.5%
Gross savings, % of GDP33%23.2%
Gross capital formation, % of GDP33%22.4%
Total reserves including gold$3.3B$7.7B
Foreign direct investment net inflows$648.7M$386.9M

Exports, imports and economic structure

StatNorth MacedoniaParaguay
Exports of goods and services, % of GDP60.3%36%
Imports of goods and services, % of GDP72.9%34.4%
Current account balance (balance of payments)-$25.6M$8.6M
Revenue excluding grants, % of GDP26.8%17.4%
Grants excluding technical cooperation, BoP$133.8M$64.1M
Personal remittances received$344.5M$682.9M
Industry including construction value added, % of GDP23.6%33.9%
Agriculture, forestry and fishing value added, % of GDP7.2%10.4%
Charges for the use of intellectual property, payments BoP$188.8M$18.5M
Charges for the use of intellectual property, receipts BoP$11.8M$114.1M
Expense, % of GDP27.9%15.6%
Government Expenditure, % of GDP31.1%19.5%

Compare with countries close by GDP per capita

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
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
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k

Paraguay vs

CountryGDP
per capita
Population
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
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
Georgia
$4.7k
3.72M
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