North Macedonia vs Turkey: Economic Indicators Comparison

Turkey with a GDP of $771.4B ranked the 19th largest economy in the world, while North Macedonia ranked 135th with $12.7B. By GDP 5-years average growth and GDP per capita, Turkey and North Macedonia ranked 36th vs 110th and 78th vs 100th, respectively.

Gross Domestic Product & Income

StatNorth MacedoniaTurkey
GDP$12.7B$771.4B
GDP growth, 1 year2.7%2.6%
GDP growth, 5-years average2.6%4.9%
Population2.1M82M
GDP per capita$6.1k$9.4k
GDP per capita growth2.62%1.31%
Purchasing Power Parity conversion factor19.381.61
Price level ratio of PPP conversion factor GDP to market exchange rate0.370.33
GDP per capita, PPP adjusted$16k$28k
GNI, Atlas method$11.4B$858.1B
GNI per capita$5.5k$10k
GNI, PPP adjusted$32.6B$2.3T
GNI per capita, PPP adjusted$16k$28k

Financial system and Human development

StatNorth MacedoniaTurkey
Income Tax Rate10%35%
Corporate Tax Rate10%22%
Inflation, consumer prices1.5%16.3%
Inflation, GDP deflator4.3%16.4%
Unemployment21.6%10.9%
Economic Freedom Index69.564.4
Personal Freedom Index8.176.97
Human Freedom Index7.556.96
Property Rights Index62.557.4
Judical Effectiveness Index42.753.7
Business Freedom Index80.667
Fiscal Health Index87.786.1
Labor Freedom Index6749.2
Investment Freedom Index6570
Financial Freedom Index6060
Trade Freedom Index86.278
Monetary Freedom Index77.766.1
Government Spending Index7164.1
Tax Burden Index91.576.7
Government Integrity Index42.244.6
Corruption Perceptions Index3741
Life expectancy at birth, years75.677.2
Suicide mortality rate, per 100,000 people7.97.3
Mortality caused by road traffic injury, per 100,000 people6.412.3
Intentional homicides, per 100,000 people1.54.3
International tourism, number of arrivals707k45.8M

Government debt & reserves

StatNorth MacedoniaTurkey
Central government debt, % of GDP39.5%29.1%
External debt stocks, % of GNI72%59%
External debt stocks$8.7B$445.1B
Short-term debt, % of total reserves40.9%124.1%
Total debt service, % of exports and primary income16.6%36.7%
Adjusted net savings including particulate emission damage, % of GNI15.4%11.4%
Gross savings, % of GDP33%27.1%
Gross capital formation, % of GDP33%29.6%
Total reserves including gold$3.3B$93B
Foreign direct investment net inflows$648.7M$13.1B

Exports, imports and economic structure

StatNorth MacedoniaTurkey
Exports of goods and services, % of GDP60.3%29.5%
Imports of goods and services, % of GDP72.9%30.6%
Current account balance (balance of payments)-$25.6M-$27B
Revenue excluding grants, % of GDP26.8%30.7%
Grants excluding technical cooperation, BoP$133.8M$1.3B
Personal remittances received$344.5M$1.1B
Industry including construction value added, % of GDP23.6%29.5%
Agriculture, forestry and fishing value added, % of GDP7.2%5.8%
Charges for the use of intellectual property, payments BoP$188.8M$726M
Charges for the use of intellectual property, receipts BoP$11.8M$29M
Expense, % of GDP27.9%33.9%
Government Expenditure, % of GDP31.1%34.6%

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

Turkey vs

CountryGDP
per capita
Population
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.91M
Argentina
$12k
44.9M
Malaysia
$11k
31.6M
Russia
$11k
147M
Mauritius
$11k
1.26M
Grenada
$11k
108k
Saint Lucia
$11k
179k
Maldives
$10k
436k
Equatorial Guinea
$10k
1.27M
Nauru
$9.9k
13.7k
Kazakhstan
$9.8k
18.3M
China
$9.8k
1.41B
Mexico
$9.7k
131M
Bulgaria
$9.3k
7M
Brazil
$8.9k
210M
Montenegro
$8.8k
622k
Cuba
$8.8k
11.5M
Lebanon
$8.3k
6.1M
Botswana
$8.3k
2.29M
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