North Macedonia vs Taiwan: Economic Indicators Comparison

Taiwan with a GDP of $585.8B ranked the 21st largest economy in the world, while North Macedonia ranked 135th with $12.7B. By GDP 5-years average growth and GDP per capita, Taiwan and North Macedonia ranked 115th vs 110th and 38th vs 100th, respectively.

Gross Domestic Product & Income

Stat	North Macedonia	Taiwan
GDP	$12.7B	$585.8B
GDP growth, 1 year	2.7%	2.6%
GDP growth, 5-years average	2.6%	2.4%
Population	2.1M	23.6M
GDP per capita	$6.1k	$25k
GDP per capita growth	2.62%	N/A
Purchasing Power Parity conversion factor	19.38	N/A
Price level ratio of PPP conversion factor GDP to market exchange rate	0.37	N/A
GDP per capita, PPP adjusted	$16k	$53k
GNI, Atlas method	$11.4B	N/A
GNI per capita	$5.5k	N/A
GNI, PPP adjusted	$32.6B	N/A
GNI per capita, PPP adjusted	$16k	N/A

Financial system and Human development

Stat	North Macedonia	Taiwan
Income Tax Rate	10%	45%
Corporate Tax Rate	10%	20%
Inflation, consumer prices	1.5%	1.5%
Inflation, GDP deflator	4.3%	N/A
Unemployment	21.6%	3.7%
Economic Freedom Index	69.5	77.1
Personal Freedom Index	8.17	8.09
Human Freedom Index	7.55	7.79
Property Rights Index	62.5	86.9
Judical Effectiveness Index	42.7	70.1
Business Freedom Index	80.6	93.9
Fiscal Health Index	87.7	91
Labor Freedom Index	67	60.3
Investment Freedom Index	65	60
Financial Freedom Index	60	60
Trade Freedom Index	86.2	86
Monetary Freedom Index	77.7	82.7
Government Spending Index	71	90.5
Tax Burden Index	91.5	75
Government Integrity Index	42.2	68.9
Corruption Perceptions Index	37	63
Life expectancy at birth, years	75.6	80.2
Suicide mortality rate, per 100,000 people	7.9	12.5
Mortality caused by road traffic injury, per 100,000 people	6.4	6.3
Intentional homicides, per 100,000 people	1.5	0.8
International tourism, number of arrivals	707k	N/A

Government debt & reserves

Stat	North Macedonia	Taiwan
Central government debt, % of GDP	39.5%	35%
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%	N/A
Gross savings, % of GDP	33%	N/A
Gross capital formation, % of GDP	33%	N/A
Total reserves including gold	$3.3B	N/A
Foreign direct investment net inflows	$648.7M	N/A

Exports, imports and economic structure

Stat	North Macedonia	Taiwan
Exports of goods and services, % of GDP	60.3%	N/A
Imports of goods and services, % of GDP	72.9%	N/A
Current account balance (balance of payments)	-$25.6M	N/A
Revenue excluding grants, % of GDP	26.8%	N/A
Grants excluding technical cooperation, BoP	$133.8M	N/A
Personal remittances received	$344.5M	N/A
Industry including construction value added, % of GDP	23.6%	N/A
Agriculture, forestry and fishing value added, % of GDP	7.2%	N/A
Charges for the use of intellectual property, payments BoP	$188.8M	N/A
Charges for the use of intellectual property, receipts BoP	$11.8M	N/A
Expense, % of GDP	27.9%	N/A
Government Expenditure, % of GDP	31.1%	17.8%