North Macedonia vs Somalia: Economic Indicators Comparison

North Macedonia with a GDP of $12.7B ranked the 135th largest economy in the world, while Somalia ranked 159th with $4.7B. By GDP 5-years average growth and GDP per capita, North Macedonia and Somalia ranked 110th vs 97th and 100th vs 196th, respectively.

Gross Domestic Product & Income

StatNorth MacedoniaSomalia
GDP$12.7B$4.7B
GDP growth, 1 year2.7%3.1%
GDP growth, 5-years average2.6%2.9%
Population2.1M11M
GDP per capita$6.1k$315
GDP per capita growth2.62%-2.74%
Purchasing Power Parity conversion factor19.3811427.68
Price level ratio of PPP conversion factor GDP to market exchange rate0.37N/A
GDP per capita, PPP adjusted$16k$500
GNI, Atlas method$11.4B$959.2M
GNI per capita$5.5k$130
GNI, PPP adjusted$32.6BN/A
GNI per capita, PPP adjusted$16kN/A

Financial system and Human development

StatNorth MacedoniaSomalia
Income Tax Rate10%N/A
Corporate Tax Rate10%N/A
Inflation, consumer prices1.5%1.5%
Inflation, GDP deflator4.3%215.5%
Unemployment21.6%14%
Economic Freedom Index69.529
Personal Freedom Index8.173.6
Human Freedom Index7.553.4
Property Rights Index62.520.1
Judical Effectiveness Index42.726.5
Business Freedom Index80.631.6
Fiscal Health Index87.7N/A
Labor Freedom Index67N/A
Investment Freedom Index65N/A
Financial Freedom Index60N/A
Trade Freedom Index86.2N/A
Monetary Freedom Index77.7N/A
Government Spending Index71N/A
Tax Burden Index91.5N/A
Government Integrity Index42.213.1
Corruption Perceptions Index3710
Life expectancy at birth, years75.656.7
Suicide mortality rate, per 100,000 people7.94.7
Mortality caused by road traffic injury, per 100,000 people6.427.1
Intentional homicides, per 100,000 people1.54.3
International tourism, number of arrivals707kN/A

Government debt & reserves

StatNorth MacedoniaSomalia
Central government debt, % of GDP39.5%N/A
External debt stocks, % of GNI72%39.4%
External debt stocks$8.7B$2.9B
Short-term debt, % of total reserves40.9%847.9%
Total debt service, % of exports and primary income16.6%47.6%
Adjusted net savings including particulate emission damage, % of GNI15.4%N/A
Gross savings, % of GDP33%N/A
Gross capital formation, % of GDP33%15.5%
Total reserves including gold$3.3B$23.1M
Foreign direct investment net inflows$648.7M$409M

Exports, imports and economic structure

StatNorth MacedoniaSomalia
Exports of goods and services, % of GDP60.3%25.9%
Imports of goods and services, % of GDP72.9%99.6%
Current account balance (balance of payments)-$25.6MN/A
Revenue excluding grants, % of GDP26.8%0%
Grants excluding technical cooperation, BoP$133.8M$1.5B
Personal remittances received$344.5M$21.7M
Industry including construction value added, % of GDP23.6%9.5%
Agriculture, forestry and fishing value added, % of GDP7.2%62.7%
Charges for the use of intellectual property, payments BoP$188.8MN/A
Charges for the use of intellectual property, receipts BoP$11.8MN/A
Expense, % of GDP27.9%0%
Government Expenditure, % of GDP31.1%N/A

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
Paraguay
$5.8k
6.81M
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

Somalia vs

CountryGDP
per capita
Population
Mauritania
$1.2k
4.42M
South Sudan
$1.1k
12.6M
Tanzania
$1.1k
57.3M
Nepal
$1k
29.4M
Sudan
$977
40.5M
Yemen
$944
28.3M
Benin
$902
11.2M
Mali
$900
18.5M
Guinea
$879
12.7M
Haiti
$868
11M
Tajikistan
$827
8.92M
Eritrea
$811
3.5M
Guinea-Bissau
$778
1.86M
Rwanda
$773
12.2M
Ethiopia
$772
105M
Chad
$728
15.5M
Gambia
$716
2.1M
Burkina Faso
$715
19.2M
Togo
$679
7.8M
Liberia
$677
4.73M
Uganda
$643
42.9M
DR Congo
$562
86.8M
Sierra Leone
$534
7.56M
Madagascar
$528
25.6M
Afghanistan
$521
34.9M
Mozambique
$499
29.7M
Central African Republic
$476
4.66M
Niger
$414
21.5M
Malawi
$389
18.6M
Burundi
$272
10.9M