North Macedonia

Description of North Macedonia

As a geopolitical and macroeconomic analyst, I provide unique insights into the economic landscape of North Macedonia. By examining key macroeconomic statistics and geopolitical factors, I aim to shed light on how these dynamics influence the country's development and its relationships with neighboring nations. Drawing from the works of influential strategists such as Henry Kissinger, George Kennan, and Peter Zeihan, I offer a comprehensive analysis of North Macedonia's position in the global arena and the implications of its economic indicators on both regional stability and international partnerships.

Population And Age Structure

1. Population, total: North Macedonia has a total population of 2,072,531, which is significantly below the average population of 40,097,746. The country is ranked 145th out of 194 countries in terms of population size.

2. Population ages 0-14 (% of total population): With 16.12% of the total population falling in this age group, North Macedonia is below the average of 27.34%. The country is ranked 157th out of 194 countries for this demographic.

3. Population ages 0-14, total: The total number of individuals aged 0-14 in North Macedonia is 334,108, much lower than the average of 10,327,379. The country ranks 149th out of 194 in this category.

4. Population ages 15-64 (% of total population): North Macedonia's demographic composition includes 69.29% of individuals aged 15-64, higher than the average of 63.44%. The country is ranked 31st out of 194 for this age group.

5. Population ages 15-64, total: With a total of 1,436,133 individuals aged 15-64, North Macedonia falls below the average of 26,003,407. The country ranks 141st out of 194 in this demographic category.

6. Population ages 65 and above (% of total population): The percentage of individuals aged 65 and above in North Macedonia is 14.59%, higher than the average of 9.22%. The country is ranked 48th out of 194 for this age group.

7. Population ages 65 and above, total: North Macedonia has a total of 302,290 individuals aged 65 and above, below the average of 3,766,959. The country is ranked 123rd out of 194 in this demographic segment.

Summary

The analysis of key demographic indicators for North Macedonia reveals a population structure skewed towards individuals aged 15-64, comprising 69.29% of the population, above the global average. However, the country has lower percentages and total numbers of individuals within the 0-14 and 65 and above age groups compared to the global averages. This demographic profile is important as it indicates potential implications for workforce dynamics, healthcare needs, and social welfare systems in North Macedonia.

Population Miscellaneous

For Rural population, North Macedonia's value of 860,473 is significantly below the average of 18,044,041. North Macedonia ranks 135th out of 190 countries in this attribute.

North Macedonia's Rural population (% of total population) at 41.518% is slightly above the average of 41.158%. The country ranks 93rd out of 190 countries in this category.

In Urban population, North Macedonia's 1,212,058 falls well below the average of 22,425,747. North Macedonia ranks 144th out of 194 countries in this aspect.

North Macedonia's Urban population (% of total population) at 58.482% is below the average of 59.691%. The country ranks 102nd out of 194 countries in this metric.

The Age dependency ratio (% of working-age population) in North Macedonia stands at 44.313%, lower than the average of 59.219%. North Macedonia is ranked 164th out of 194 countries in this measure.

With a crude Birth rate of 9.2 per 1,000 people, North Macedonia is below the average of 19.384. The country ranks 171st out of 192 countries in this regard.

North Macedonia's Death rate of 12.4 per 1,000 people is higher than the average of 8.214. This places North Macedonia at the 20th rank out of 192 countries for this statistic.

In terms of Fertility rate, North Macedonia's rate of 1.31 births per woman is significantly below the average of 2.603. North Macedonia ranks 182nd out of 190 countries for this indicator.

Summary

The analysis reveals that North Macedonia has a relatively small rural population compared to the global average, but a higher percentage of its population resides in rural areas. The country also has a lower urban population compared to the average and a slightly lower urban population percentage. North Macedonia has a significantly lower age dependency ratio and fertility rate but a higher death rate compared to the global averages. These statistics are crucial for policymakers and analysts to assess the country's demographic trends, economic development, and healthcare needs.

Military

The Military expenditure (current USD) in North Macedonia is significantly lower than the average, with a value of 153,537,482.90 USD compared to the average of 12,904,993,617.17 USD. North Macedonia is ranked 117th out of 149 countries in this attribute data.

North Macedonia's Military expenditure (% of GDP) is below the average at 1.27%, while the average is 1.90%. The country ranks 99th out of 148 countries in this metric.

The total Armed forces personnel in North Macedonia is notably lower than the average, with 16,000 personnel compared to the average of 165,908.54 personnel. North Macedonia ranks 114th out of 164 countries in this category.

North Macedonia exceeds the average in the Armed forces personnel (% of total labor force), with a value of 1.69% compared to the average of 1.28%. The country is ranked 34th out of 164 nations in this aspect.

Summary

North Macedonia's military expenditure, armed forces personnel, and their percentage of the total labor force are below average globally. Despite this, the country allocates a higher percentage of its GDP to military spending compared to the average. These indicators are crucial as they reflect North Macedonia's prioritization of defense and security within its national budget, potentially impacting its geopolitical positioning and security capabilities in the region.

Natural Resources

North Macedonia has a Forest area of 10,014.9 sq. km, which is below the average of 211,606.1 sq. km, ranking 123 out of 191 countries. The Land area in North Macedonia is 25,220 sq. km, also below the average of 665,166.5 sq. km, ranking 144 out of 194 countries.

The Surface area in North Macedonia is 25,710 sq. km, lower than the average of 689,779.6 sq. km, ranking 145 out of 194 countries. North Macedonia's Arable land, at 416,000 hectares, is significantly below the average of 7,329,543.2 hectares, ranking 131 out of 190 countries.

The Land under cereal production in North Macedonia is 157,971 hectares, below the average of 4,206,011.6 hectares, with a rank of 126 out of 174 countries. The country experiences an Average precipitation in depth of 619 mm per year, lower than the average of 1,157.8 mm per year, ranking 126 out of 178 countries.

North Macedonia has Renewable internal freshwater resources totaling 5.4 billion cubic meters, considerably below the average of 240.4 billion cubic meters, and ranks 136 out of 178 countries in this aspect.

Summary

North Macedonia's key macroeconomic indicators such as forest area, land area, arable land, land under cereal production, precipitation, and renewable internal freshwater resources are all notably below global averages and rank lower compared to other countries. These statistics are crucial as they indicate the country's limitations in terms of agricultural productivity, natural resource availability, and environmental sustainability, potentially impacting its economic development, food security, and overall resilience to climate change.

Resource Rents

- Total natural resources rents (% of GDP): North Macedonia's value of 0.145% is significantly below the average of 4.63%. This places North Macedonia at rank 143 out of 175 countries.
- Coal rents (% of GDP): North Macedonia's value of 0.005% is notably lower than the average of 0.40%. This positions North Macedonia at rank 51 out of 65 countries.
- Forest rents (% of GDP): North Macedonia's value of 0.140% is below the average of 1.53%. This ranks North Macedonia at position 107 out of 174 countries.

Summary

North Macedonia has relatively low natural resources rents, with values below the global averages for total natural resources rents, coal rents, and forest rents. This indicates a potential limited contribution of the country's natural resources sector to its GDP compared to other nations. The low ranking further highlights the challenges North Macedonia may face in leveraging its natural resources for economic development and growth.

Commodities

Analysis of key statistics for North Macedonia:

1. Cereal production (metric tons): With a value of 578835.89, North Macedonia's cereal production is below the average of 17249945.93 metric tons, ranking 118 out of 174 countries in the dataset.

2. Aquaculture production (metric tons): North Macedonia's aquaculture production of 1633.91 metric tons is significantly lower than the average of 679642.92 metric tons, ranking 116 out of 180 countries.

3. Capture fisheries production (metric tons): The country's capture fisheries production stands at 472.88 metric tons, well below the average of 467453.06 metric tons, placing North Macedonia at 177 out of 190 countries.

4. Total fisheries production (metric tons): North Macedonia's total fisheries production is 2106.79 metric tons, falling short of the average of 1153914.85 metric tons, resulting in a rank of 169 out of 182 countries.

5. Fertilizer consumption (kilograms per hectare of arable land): The fertilizer consumption in North Macedonia is 82.81 kilograms per hectare, which is below the average of 159.04 kilograms per hectare. The country ranks 101 out of 187 countries in this aspect.

Summary

In summary, North Macedonia falls below the global averages in key agricultural indicators such as cereal production, aquaculture production, capture fisheries production, and total fisheries production. Additionally, the country's fertilizer consumption is below the average, ranking 101 out of 187 countries. These statistics highlight North Macedonia's challenges in achieving optimal agricultural productivity and sustainability, which are crucial for food security, economic development, and resource management in the country.

Intellectual Property

Industrial design applications, nonresident, by count: North Macedonia has 625 applications, which is below the average of 1415.83. It ranks 37 out of 112 countries in this data set.

Industrial design applications, resident, by count: North Macedonia only has 40 applications, significantly lower than the average of 9799.58. It ranks 83 out of 113 countries in this attribute.

Patent applications, residents: North Macedonia recorded 47 patent applications, below the average of 19037.56. It ranks 80 out of 117 countries in this category.

Scientific and technical journal articles: North Macedonia produced 427.34 articles in this field, well below the average of 15103.76. It ranks 98 out of 192 countries included in the data.

Charges for the use of intellectual property, payments (BoP, current US$): North Macedonia's payments for intellectual property stand at 183,710,916.88 USD, significantly lower than the average of 3,218,843,494.39 USD. It ranks 60 out of 143 countries in this aspect.

Charges for the use of intellectual property, receipts (BoP, current US$): North Macedonia received 12,089,507 USD for intellectual property use, much lower than the average of 3,191,687,117.58 USD. It ranks 64 out of 122 countries for this indicator.

Researchers in R&D (per million people): North Macedonia has 775.24 researchers per million people, below the average of 2556.45. It ranks 48 out of 72 countries in this data set.

Summary

North Macedonia lags behind global averages in industrial design applications, patent applications, scientific articles production, intellectual property payments, intellectual property receipts, and researchers in R&D. These indicators are crucial for measuring a country's innovation and technological advancement capabilities, highlighting areas where North Macedonia needs to focus on to enhance its competitiveness and economic growth in a rapidly evolving global landscape.

Broad Economy Attributes

Analysis of key macroeconomic statistics for North Macedonia:

1. GDP (current US$): North Macedonia's GDP is $12,363,580,534.68, which is significantly below the average GDP of $442,870,224,838.68. North Macedonia ranks 131 out of 189 countries in this dataset.

2. GDP, PPP (current international $): North Macedonia's GDP based on PPP is $37,052,528,015.27, also notably lower than the average GDP of $734,141,122,350.78. North Macedonia ranks 119 out of 181 countries in this dataset.

3. GDP per capita (current US$): The GDP per capita for North Macedonia is $5965.45, below the average of $15,462.11. North Macedonia ranks 92 out of 190 countries in this dataset.

4. GDP per capita, PPP (current international $): The GDP per capita based on PPP for North Macedonia is $17,877.91, lower than the average of $21,251.89. North Macedonia ranks 68 out of 181 countries in this dataset.

5. GNI (current US$): North Macedonia's GNI is $11,894,791,174.36, significantly below the average of $452,040,815,370.70. North Macedonia ranks 132 out of 185 countries in this dataset.

6. GNI, PPP (current international $): The GNI based on PPP for North Macedonia is $35,647,608,877.34, much lower than the average of $730,698,223,823.47. North Macedonia ranks 118 out of 181 countries in this dataset.

7. GNI per capita, PPP (current international $): North Macedonia's GNI per capita based on PPP is $17,200, below the average of $20,615.75. North Macedonia ranks 70 out of 181 countries in this dataset.

Summary

North Macedonia's key macroeconomic statistics reveal a consistent trend of below-average figures in terms of GDP, GDP per capita, and GNI compared to the global averages. This indicates that North Macedonia has room for economic growth and development to catch up with other countries. Improving these indicators is crucial for enhancing the standard of living, attracting investment, and fostering overall economic stability and prosperity in North Macedonia.

Broad Value Added

1. Gross value added at basic prices (GVA) (current US$): North Macedonia's GVA is $10,863,596,077.82, ranking 129 out of 176 countries. The country's GVA is significantly below the average of $360,070,943,595.12.

2. Agriculture, forestry, and fishing, value added (% of GDP): North Macedonia's value added is 8.57% of its GDP, ranking 83 out of 182 countries. This value is below the average of 10.86%.

3. Agriculture, forestry, and fishing, value added (current US$): North Macedonia's value added is $1,059,440,480.15, ranking 128 out of 182 countries. The country's value added is notably below the average of $19,924,732,828.07.

4. Services, value added (% of GDP): North Macedonia's value added in services is 56.56% of its GDP, ranking 89 out of 183 countries. This percentage is slightly below the average of 56.72%.

5. Services, value added (current US$): The value added in services for North Macedonia is $6,992,263,352.25, ranking 124 out of 183 countries. The country's value added is well below the average of $295,837,711,130.69.

6. Industry (including construction), value added (current US$): North Macedonia's value added in industry and construction is $2,811,892,245.42, ranking 128 out of 183 countries. The country's value added in this sector is significantly lower than the average of $118,421,095,413.50.

Summary

North Macedonia's economy exhibits significant disparities in key macroeconomic indicators compared to global averages. The country's GVA, value added in agriculture, forestry, fishing, services, and industry are notably below the global averages, indicating potential areas of economic development and structural reform. These findings highlight the need for North Macedonia to focus on diversifying its economy, enhancing productivity in key sectors, and improving overall economic competitiveness to align more closely with international standards and foster sustainable growth.

Manufacturing Value Added

1. Manufacturing, value added (current US$): North Macedonia's value added in manufacturing is significantly below the average for all countries, ranking 109 out of 173 countries. This indicates a potential area for growth and development in the manufacturing sector.

2. Manufacturing, value added (% of GDP): North Macedonia's value added in manufacturing as a percentage of GDP is slightly above the average, ranking 69 out of 173 countries. This suggests that manufacturing plays a relatively significant role in North Macedonia's GDP compared to other nations.

3. Medium and high-tech manufacturing value added (% manufacturing value added): North Macedonia excels in this area, with a value significantly higher than the average, ranking 44 out of 149 countries. This indicates a focus on advanced manufacturing processes.

4. Chemicals (% of value added in manufacturing): North Macedonia's contribution of chemicals to manufacturing value added is below the average, ranking 66 out of 89 countries. This may point to potential opportunities for growth in the chemical manufacturing sector.

5. Food, beverages and tobacco (% of value added in manufacturing): North Macedonia's contribution from this sector is slightly below the average, ranking 42 out of 92 countries. There may be room for expansion and diversification within the food and beverage industry.

6. Machinery and transport equipment (% of value added in manufacturing): North Macedonia excels in this category, with a value significantly above the average, ranking 24 out of 93 countries. This indicates a strong presence in the machinery and transport equipment manufacturing sector.

7. Textiles and clothing (% of value added in manufacturing): North Macedonia's value added from textiles and clothing is well above the average, ranking 6 out of 93 countries. This highlights a strength and competitive advantage in textile and clothing manufacturing.

8. Other manufacturing (% of value added in manufacturing): North Macedonia's contribution to other manufacturing sectors is below the average, ranking 84 out of 94 countries. There may be opportunities to enhance and diversify the country's other manufacturing industries.

Summary

North Macedonia's manufacturing sector shows potential for growth and development, particularly in areas such as chemicals and other manufacturing sectors where its contribution is below average. The country excels in high-tech manufacturing, machinery, textiles, and clothing, indicating strengths and competitive advantages in these sectors. Focusing on enhancing the weaker areas while leveraging existing strengths can help North Macedonia further diversify its manufacturing base, attract investment, and drive economic growth.

Money

- North Macedonia's consumer price inflation rate is 1.20%, significantly below the average of 8.26%. This places North Macedonia at rank 104 out of 165 countries.

- North Macedonia's GDP deflator inflation rate is 2.91%, lower than the average of 6.90%. This ranks North Macedonia at position 75 out of 188 countries.

- The annual broad money growth rate in North Macedonia is 7.97%, notably lower than the average of 18.03%. This positions North Macedonia at rank 107 out of 139 countries.

- North Macedonia's broad money as a percentage of GDP is 65.18%, slightly below the average of 71.75%. North Macedonia holds the 69th position out of 139 countries in this measure.

- The broad money to total reserves ratio in North Macedonia is 1.95, lower than the average of 5.17. This places North Macedonia at rank 90 out of 126 countries.

Summary

North Macedonia's macroeconomic indicators suggest a relatively stable economic environment with lower inflation rates, moderate money growth, and conservative money-to-GDP ratios compared to global averages. While the country ranks in the lower to middle range in these indicators among the listed countries, its prudent monetary policies could indicate a focus on maintaining price stability and ensuring sustainable economic growth in the long term.

Consumption Expenditure

Final consumption expenditure (current US$): North Macedonia has a value of 10,234,672,914.22 which is significantly below the average of 381,630,252,515.38. It ranks 120 out of 159 countries.

Final consumption expenditure (% of GDP): North Macedonia's value of 82.78% is slightly above the average of 82.37%. It ranks 70 out of 159 countries.

General government final consumption expenditure (current US$): With a value of 2,069,512,417.52, North Macedonia is well below the average of 93,676,578,238.03. It ranks 114 out of 158 countries.

General government final consumption expenditure (% of GDP): North Macedonia's value of 16.74% is below the average of 18.71%. It ranks 89 out of 158 countries.

Household and NPISHs Final consumption expenditure (current US$): North Macedonia has a value of 8,165,160,496.70, significantly lower than the average of 290,127,571,157.69. It ranks 119 out of 158 countries.

Households and NPISHs final consumption expenditure (% of GDP): With a value of 66.04%, North Macedonia is above the average of 63.68%. It ranks 69 out of 158 countries.

Summary

North Macedonia's final consumption expenditure, both in absolute terms and as a percentage of GDP, is below the global average. This indicates lower levels of economic activity and consumer spending compared to most countries surveyed. The country's general government final consumption expenditure is also notably below average, which may suggest limitations in public sector spending and infrastructure development. Understanding these differences in consumption patterns is crucial for policymakers and investors to grasp North Macedonia's economic development trajectory and potential for future growth.

Investment

1. Foreign direct investment, net (BoP, current US$): North Macedonia has a net FDI of -172,914,480.25, which is above the average of -1,615,235,980.51. This places North Macedonia at rank 74 out of 169 countries for this attribute.

2. Foreign direct investment, net inflows (BoP, current US$): North Macedonia received a net FDI of 7,693,779.70, below the average of 5,749,271,080.15. The country is ranked 147 out of 182 countries in this category.

3. Foreign direct investment, net inflows (% of GDP): North Macedonia's FDI as a percentage of GDP is 0.0622, lower than the average of 2.6094. This places North Macedonia at rank 153 out of 178 countries.

4. Foreign direct investment, net outflows (BoP, current US$): North Macedonia has net outflows of -165,220,700.55, below the average of 5,707,991,116.07. The country ranks 140 out of 156 countries for this attribute.

5. Foreign direct investment, net outflows (% of GDP): The net outflows as a percentage of GDP for North Macedonia are -1.3363, which is below the average of 1.0044. North Macedonia is ranked 140 out of 155 countries in this metric.

6. Portfolio Investment, net (BoP, current US$): North Macedonia's net portfolio investment is -296,554,929.43, below the average of 679,559,169.57. The country ranks 115 out of 159 countries for this attribute.

7. Portfolio investment, bonds (PPG + PNG) (NFL, current US$): The value of portfolio investment in bonds for North Macedonia is 596,192,000, significantly below the average of 4,134,263,915.25. The country ranks 24 out of 59 countries in this category.

8. Portfolio equity, net inflows (BoP, current US$): North Macedonia shows net outflows of -8,385,957.45 in portfolio equity, well below the average of 9,197,145,994.70. The country ranks 78 out of 125 countries for this attribute.

Summary

North Macedonia's performance in foreign direct investment is mixed, with below-average net inflows and outflows. The country ranks relatively low in both FDI inflows (% of GDP) and outflows (% of GDP), indicating limited foreign investment activity compared to its GDP. Additionally, North Macedonia's net portfolio investment and portfolio equity both fall below average, suggesting a constrained investment environment. These statistics are important as they reflect North Macedonia's attractiveness to foreign investors and its ability to participate in global financial markets.

Debt

North Macedonia's total debt service as a percentage of GNI is 9.74%, which is 3.75% higher than the average of 5.98%. This ranks North Macedonia 19th out of 120 countries.

For public and publicly guaranteed debt service as a percentage of GNI, North Macedonia's value is 6.20%, exceeding the average of 2.84% by 3.36%. This places North Macedonia at 7th out of 120 countries.

North Macedonia's external debt stocks as a percentage of GNI stand at 86.80%, surpassing the average of 65.42% by 21.38%. This ranks North Macedonia 25th out of 120 countries.

The debt service on external debt, total, in current USD is $1,158,246,751.40 for North Macedonia, falling below the average of $9,811,195,839.23 by $8,652,949,087.83. North Macedonia ranks 62nd out of 123 countries.

In terms of debt service on external debt, public and publicly guaranteed, North Macedonia pays $737,629,499, which is $2,572,982,558.60 below the average of $3,310,612,057.60. North Macedonia ranks 54th out of 123 countries.

North Macedonia's external debt stocks, public and publicly guaranteed, in current USD amount to $5,101,791,781.10. This falls significantly below the average of $28,695,879,144.98 by $23,594,087,363.88. North Macedonia ranks 72nd out of 123 countries.

In the category of external debt stocks, private nonguaranteed, North Macedonia has $3,636,638,000.10, much lower than the average of $33,734,699,285.22 by $30,098,061,285.12. North Macedonia ranks 58th out of 91 countries.

Regarding external debt stocks, total, in current USD, North Macedonia owes $10,324,278,543, which is $63,521,251,568.82 less than the average of $73,845,530,111.82. This places North Macedonia at the 68th position out of 123 countries.

Summary

North Macedonia exhibits relatively high total debt service and external debt compared to the global average, ranking in the top 25 for both indicators. However, the country's debt service on external debt, both total and publicly guaranteed, as well as its external debt stocks, are notably below the global averages, positioning North Macedonia in the lower half of rankings for these metrics. These findings are crucial as they reflect North Macedonia's financial obligations, its ability to manage debt, and its standing in the global economy, which can impact its creditworthiness, access to international markets, and overall economic stability.

Broad Trade Attributes

Trade (% of GDP): North Macedonia's trade accounts for 128.24% of its GDP, which is 45.90% higher than the average trade percentage of 82.34%. This places North Macedonia at rank 23 out of 163 countries included in the data.

Merchandise trade (% of GDP): With merchandise trade accounting for 124.18% of its GDP, North Macedonia exceeds the average by 64.17%. The country holds the 15th rank out of 186 countries in the dataset.

Trade in services (% of GDP): North Macedonia's trade in services, at 22.90% of GDP, is slightly below the average of 24.63%. This places North Macedonia at rank 53 out of 171 countries.

External balance on goods and services (current US$): North Macedonia's external balance on goods and services is at -$1.57 billion, considerably lower than the average of $3.41 billion. This ranks the country 110th out of 163 nations.

External balance on goods and services (% of GDP): The external balance on goods and services as a percentage of GDP for North Macedonia stands at -12.70%, which is 6.73% lower than the average of -5.97%. North Macedonia is ranked 121st out of 163 countries for this metric.

Summary

North Macedonia demonstrates a strong reliance on trade, with its overall trade accounting for a significant portion of GDP and merchandise trade surpassing the global average. However, the country's trade in services falls slightly below the average. Despite a negative external balance on goods and services, North Macedonia's percentage in relation to GDP is lower than the average, indicating potential areas for economic development.

These indicators are crucial for assessing North Macedonia's economic integration with the global market, competitiveness in both goods and services sectors, and the overall health of its trade balance. Understanding these figures can help policymakers, investors, and analysts make informed decisions regarding the country's economic policies, trade relationships, and growth prospects.

Net Trade

North Macedonia has a current account balance of -360,443,556.60 USD, ranking 96th out of 170 countries. This value is below the average current account balance of 1,443,864,831.49 USD.

The current account balance as a percentage of GDP for North Macedonia is -2.92%, ranking 104th out of 170 countries. It is lower than the average percentage of GDP which is -2.36%.

North Macedonia's net trade in goods and services is at -1,582,531,345.18 USD, ranking it 112th out of 171 countries. This value deviates significantly from the average net trade in goods and services of 2,604,730,003.57 USD.

With a net primary income of -469,907,527.71 USD, North Macedonia ranks 88th out of 170 countries. This value is above the average net primary income of -903,807,529.74 USD.

North Macedonia's net secondary income stands at 1,691,995,316.28 USD, ranking it 49th out of 170 countries. This value is much higher than the average net secondary income of -269,227,340.40 USD.

For net trade in goods, North Macedonia shows a value of -2,060,197,287.60 USD, ranking 120th out of 171 countries. This figure is below the average net trade in goods of 1,302,831,005.68 USD.

The net capital account for North Macedonia is 13,074,815.67 USD, placing it at the 102nd rank out of 159 countries. This value falls below the average net capital account of 136,543,824.05 USD.

Lastly, North Macedonia's net financial account is -352,068,750.74 USD, ranking 97th out of 170 countries. This value is higher than the average net financial account of -469,840,994.63 USD.

Summary

North Macedonia displays a negative current account balance, indicating that it imports more goods and services than it exports, ranking below the global average. Its net primary income is also negative but higher than the global average. However, the country's net secondary income is notably positive, surpassing the average. These indicators highlight North Macedonia's trade and income dynamics, showing areas where the country may need to focus on improving its balance of payments and attracting foreign investment to boost its financial health and sustainability.

Broad Export Attributes

1. North Macedonia's Exports of goods, services and primary income (BoP) amount to 7.35 billion USD, ranking 102 out of 170 countries. This value is significantly below the average of 146.24 billion USD.

2. The country's Exports of goods and services (BoP) is 7.19 billion USD, ranking 99 out of 170 countries. North Macedonia performs below the average of 122.94 billion USD in this aspect.

3. North Macedonia's Exports of goods and services total 7.14 billion USD, ranking 97 out of 163 countries. This value falls short of the average of 129.60 billion USD.

4. The country's Exports of goods and services as a percentage of GDP is 57.77%, ranking 26 out of 163 countries. North Macedonia surpasses the average of 38.19% in this category.

5. North Macedonia's Goods exports amount to 5.54 billion USD, ranking 97 out of 171 countries. This falls below the average of 93.31 billion USD.

6. The country's International tourism receipts as a percentage of total exports are 3.52%, ranking 58 out of 120 countries. This figure is below the average of 9.74%.

7. North Macedonia's ICT goods exports as a percentage of total goods exports is 0.72%, ranking 71 out of 142 countries. This value is below the average of 3.81%.

All in all, North Macedonia generally falls below average in its export-related attributes such as Exports of goods and services, Goods exports, and ICT goods exports. However, the country performs relatively well in terms of Exports as a percentage of GDP. The tourism sector, indicated by International tourism receipts, also has room for improvement compared to the average.

Summary

North Macedonia's export performance is below average across various indicators such as exports of goods and services, goods exports, and ICT goods exports. However, the country excels in terms of exports as a percentage of GDP, outperforming the average. The tourism sector, represented by international tourism receipts, lags behind the average and presents an opportunity for growth and development in North Macedonia's economy.

These findings are important as they highlight North Macedonia's strengths and weaknesses in global trade. By identifying areas of underperformance, such as in goods exports and tourism receipts, policymakers can focus on strategies to enhance competitiveness and diversify the country's export base. Maximizing the potential of sectors where North Macedonia already excels, like exports as a percentage of GDP, can further drive economic growth and stability.

Merchandise Exports

North Macedonia's merchandise exports amount to $6.64 billion, ranking 96th out of 187 countries. This is significantly below the average of $89.54 billion, indicating room for growth in diversifying export markets.

The country's agricultural raw materials exports account for 0.43% of its merchandise exports, ranking 116th out of 151 countries. This percentage is substantially lower than the average of 2.97%, suggesting potential for North Macedonia to enhance its agricultural export sector.

North Macedonia's food exports represent 9.83% of its merchandise exports, placing it at 105th out of 152 countries. This figure is notably lower than the average of 24.06%, signaling an opportunity to expand and promote its food export industry.

With fuel exports amounting to 1.41% of merchandise exports, the country ranks 96th out of 147 nations. This proportion is well below the average of 13.70%, highlighting the potential for North Macedonia to tap into energy export markets.

Ores and metals exports constitute 4.46% of North Macedonia's merchandise exports, ranking it 61st out of 152 countries. Despite being below the average of 9.10%, there is a competitive advantage to further develop this sector.

The country's residual merchandise exports are a minute 0.05%, placing it at 113th out of 166 nations. This share is significantly lower than the average of 3.20%, indicating an opportunity for North Macedonia to optimize its export reporting mechanisms.

Summary

North Macedonia has notable potential for growth in diversifying its export markets, particularly in the agricultural raw materials and food sectors where its percentages fall below the global averages. Additionally, there is an opportunity to enhance its fuel and ores/metal exports to align more closely with international standards.

These findings are crucial as they highlight specific sectors where North Macedonia can focus its efforts to boost economic growth, create employment opportunities, and strengthen its trade relationships with other nations. By addressing these areas for improvement, North Macedonia can enhance its competitiveness in the global market and achieve a more sustainable and diversified economy.

Technology Exports

North Macedonia's manufactures exports account for 83.79% of its merchandise exports, exceeding the attribute average of 42.62%. This places North Macedonia at rank 16 out of 152 countries in this category.

North Macedonia's high-technology exports amount to $232.39 million, significantly below the attribute average of $16.66 billion. This ranks North Macedonia at 70 out of 151 countries.

High-technology exports represent 4.18% of North Macedonia's manufactured exports, lower than the attribute average of 10.15%. North Macedonia is ranked 94th out of 150 countries in this aspect.

North Macedonia's medium and high-tech exports constitute 65.41% of its manufactured exports, surpassing the attribute average of 34.29%. This places North Macedonia at rank 16 out of 149 countries in this category.

Summary

North Macedonia demonstrates a strong reliance on manufacturing exports, with high proportions of both total exports and medium to high-tech exports compared to global averages. While excelling in certain categories, such as medium and high-tech exports as a percentage of total manufactured exports, the country still lags behind in high-technology exports both in total value and percentage. These indicators are crucial as they highlight North Macedonia's industrial strengths and areas for potential growth and improvement in the global market.

Service Exports

1. North Macedonia's Service exports amount to $1,654,758,371.91, significantly below the average of $28,917,292,503.82. This ranks North Macedonia 95th out of 171 countries.

2. ICT service exports in North Macedonia total $277,085,052.44, well below the average of $4,578,501,153.77. North Macedonia ranks 73rd out of 166 countries.

3. North Macedonia's ICT service exports account for 16.74% of its total service exports, exceeding the average of 11.75%. This places North Macedonia 37th out of 166 countries.

4. The country's Communications, computer, etc. services constitute 60.20% of its service exports, higher than the average of 45.85%. North Macedonia ranks 50th out of 169 countries in this category.

5. Transport services form 24.30% of North Macedonia's service exports, slightly above the average of 21.80%. The country ranks 63rd out of 169 countries.

6. North Macedonia's Travel services constitute 15.23% of its service exports, below the average of 26.40%. This places North Macedonia 96th out of 167 countries.

7. The country's Insurance and financial services represent 0.26% of service exports, significantly lower than the average of 6.46%. North Macedonia ranks 154th out of 161 countries in this aspect.

Summary

North Macedonia's service exports are below global averages across various sectors such as ICT, transport, and travel services, yet it performs relatively better in ICT exports compared to its overall service exports. The country's heavy reliance on communications and computer services for export income highlights a potential area for diversification to reduce economic vulnerability and enhance competitiveness in the global market.

Commercial Service Exports

North Macedonia's Commercial service exports amount to $1.65 billion, ranking 93rd out of 171 countries with available data. This figure is significantly below the average of $28.51 billion.

Travel services account for 15.26% of North Macedonia's commercial service exports, ranking 102nd out of 167 countries. This percentage is notably lower than the average of 27.89%.

North Macedonia's Computer, communications, and other services contribute 60.14% to its commercial service exports, placing it 43rd out of 169 countries. This value is higher than the average of 42.44%.

Insurance and financial services represent only 0.26% of North Macedonia's commercial service exports, ranking 154th out of 161 countries. This percentage is substantially below the average of 6.97%.

Transport services make up 24.34% of North Macedonia's commercial service exports, ranking 66th out of 169 countries. This value is slightly above the average of 23.37%.

Summary

North Macedonia's commercial service exports are below the global average, with travel services and insurance/financial services performing particularly poorly compared to other countries. On the other hand, the country excels in computer, communications, and other services. These indicators are crucial as they highlight North Macedonia's areas of strength and weakness in international trade, guiding policymakers towards leveraging competitive sectors and addressing underperforming ones to enhance economic growth and competitiveness.

Broad Import Attributes

North Macedonia's Imports of goods and services (current US$) are $8,712,588,273.00, ranking 98 out of 163 countries. This value is significantly below the average of $126,191,355,599.06.

Imports of goods and services (% of GDP) in North Macedonia stand at 70.47%, which is above the average of 44.15%. This places North Macedonia at rank 19 out of 163 countries.

North Macedonia's International tourism expenditures (% of total imports) are 1.74%, lower than the average of 3.98%. This places the country at rank 103 out of 131 nations.

For ICT goods imports (% total goods imports), North Macedonia records 4.10%, below the average of 6.85%. The country is ranked 95 out of 143 countries.

The value of Goods imports (BoP, current US$) in North Macedonia is $7,595,627,965.50, ranking 97 out of 171 countries. This value is notably lower than the average of $92,007,788,027.17.

North Macedonia's Imports of goods and services (BoP, current US$) stand at $8,772,720,394.00, positioning the country at rank 101 out of 170 nations. This value is significantly below the average of $120,321,577,988.12.

Imports of goods, services and primary income (BoP, current US$) in North Macedonia amount to $9,404,961,032.14, placing the country at rank 102 out of 170 countries. This value is notably lower than the average of $144,514,428,722.28.

Summary

North Macedonia's key macroeconomic indicators reveal that the country has relatively low imports compared to the global average across various categories such as total imports, imports as a percentage of GDP, and international tourism expenditures. This suggests that North Macedonia may have limited exposure to international markets and potentially relies more on domestic production or faces challenges in attracting foreign investment.

Merchandise Imports

1. Merchandise imports (current US$): North Macedonia's value of $8,715,000,000 is significantly below the average of $89,385,605,263. The country ranks 97 out of 190 countries in this attribute.

2. Manufactures imports (% of merchandise imports): North Macedonia's value of approximately 64.70% is slightly below the average of 66.76%. This places North Macedonia at rank 93 out of 152 countries.

3. Agricultural raw materials imports (% of merchandise imports): North Macedonia's value of 0.80% is lower than the average of 1.27%. The country ranks 109 out of 152 countries in this aspect.

4. Food imports (% of merchandise imports): North Macedonia's value of 10.46% is below the average of 15.89%. In this attribute, North Macedonia ranks 119 out of 152 countries.

5. Fuel imports (% of merchandise imports): North Macedonia's value of 7.87% is also under the average of 11.38%. The country ranks 105 out of 152 nations.

6. Ores and metals imports (% of merchandise imports): North Macedonia's value of 16.08% is considerably higher than the average of 2.57%. Remarkably, North Macedonia ranks 1st out of 152 countries in this category.

7. Merchandise imports by the reporting economy, residual (% of total merchandise imports): North Macedonia's value of 0.002% is significantly lower than the average of 2.51%. This attribute ranks the country 165 out of 180 countries.

Summary

North Macedonia exhibits a pattern in its key macroeconomic indicators for merchandise imports, where it generally falls below the global averages. The country's strengths include a notable dominance in ores and metals imports, ranking first globally. Understanding these import trends is crucial for North Macedonia's economic planning, as it highlights areas of comparative advantage and potential vulnerabilities in its trade landscape.

Service Imports

North Macedonia's service imports amount to $1,177,092,429.49, ranking 118 out of 171 countries. This is significantly below the average service imports of $27,615,356,170.47.

Communications, computer, etc. account for 55.44% of North Macedonia's service imports, which is above the average of 44.40%. This places North Macedonia at rank 49 out of 169 countries.

Transport services represent 29.38% of North Macedonia's service imports, below the average of 32.90%. North Macedonia ranks 84 out of 169 countries in this category.

Travel services make up 12.48% of North Macedonia's service imports, slightly below the average of 14.14%. The country ranks 74 out of 169 countries.

Insurance and financial services constitute 2.71% of North Macedonia's service imports, significantly lower than the average of 8.53%. This places North Macedonia at rank 144 out of 169 countries.

Summary

North Macedonia's service imports are relatively low compared to the global average, with a focus on communications, computer, etc. and transport services. However, the country lags behind in insurance and financial services imports. These statistics are crucial as they highlight North Macedonia's reliance on specific service sectors for imports, which could impact its economic stability and growth potential.

Commercial Service Imports

1. Commercial service imports (current US$): North Macedonia has a total commercial service import value of $1,139,161,079.49, which is significantly below the average of $27,102,746,128.60. North Macedonia ranks 118th out of 171 countries in this attribute data.

2. Computer, communications and other services (% of commercial service imports): North Macedonia's percentage in this category is 53.95%, higher than the average of 41.71%. North Macedonia is ranked 54th out of 169 countries.

3. Insurance and financial services (% of commercial service imports): North Macedonia's percentage for insurance and financial services is 2.80%, below the average of 8.85%. The country ranks 147th out of 169 countries.

4. Transport services (% of commercial service imports): North Macedonia allocates 30.36% of its commercial service imports to transport services, slightly below the average of 34.71%. North Macedonia is ranked 85th out of 169 countries.

5. Travel services (% of commercial service imports): North Macedonia's portion for travel services is 12.89%, which is under the average of 14.73%. The country holds the 74th rank out of 169 countries.

Summary

North Macedonia has a relatively low total commercial service import value compared to the global average, ranking 118th out of 171 countries. The country's higher allocation towards computer, communications, and other services is a positive indicator, placing it at 54th globally. However, North Macedonia's lower percentages in insurance and financial services, transport services, and travel services signify potential areas for improvement in diversifying its commercial service imports and enhancing its economic competitiveness.

Infrastructure

North Macedonia's railways carried 25 million passenger-km, significantly below the attribute average of 32,281.92 million passenger-km, ranking 58th out of 64 countries in the dataset. In terms of goods transported, North Macedonia moved 342 million ton-km, below the attribute average of 119,231.19 million ton-km, ranking 56th out of 62 countries. Additionally, North Macedonia's total rail lines spanned 683 km, well below the attribute average of 12,204.74 km, ranking 58th out of 66 countries.

Summary

North Macedonia's railway sector lags behind compared to other countries, with lower passenger-km, ton-km, and total rail line length. This suggests a comparatively underdeveloped railway infrastructure in the country. The inadequate rail network may hinder efficient transportation of both passengers and goods, potentially impacting trade, economic growth, and connectivity within and beyond the region.

Information Technology Infrastructure

1. Secure Internet servers: North Macedonia has 2,120 secure internet servers, which is significantly below the average of 458,294. North Macedonia ranks 97 out of 193 countries in this aspect.

2. Secure Internet servers (per 1 million people): With 1,022.9 secure internet servers per 1 million people, North Macedonia falls well below the average of 14,067.2. The country ranks 79 out of 193 countries for this metric.

3. Individuals using the Internet (% of population): North Macedonia excels in this area, with 81.41% of its population using the internet, which is 16.64% higher than the average of 64.77%. The country ranks 59 out of 180 countries in this regard.

4. Fixed broadband subscriptions: North Macedonia has 475,569 fixed broadband subscriptions, significantly below the average of 6,591,956.4 subscriptions. The country ranks 90 out of 185 countries for fixed broadband subscriptions.

5. Mobile cellular subscriptions: North Macedonia has 1,862,138 mobile cellular subscriptions, which is far below the average of 42,526,463.9 subscriptions. The country ranks 145 out of 193 countries in mobile cellular subscriptions.

Summary

North Macedonia's performance in key macroeconomic indicators related to internet and technology infrastructure varies significantly. While the country has a relatively low number of secure internet servers and fixed broadband subscriptions compared to global averages, it shows a high percentage of individuals using the internet, indicating a strong level of internet penetration among its population. The low number of mobile cellular subscriptions suggests room for growth in mobile connectivity. These indicators are crucial as they reflect the country's digital readiness, access to information, and potential for economic development through technology adoption.

Energy Consumption

North Macedonia's renewable energy consumption accounts for 20.26% of its total final energy consumption, which is below the global average of 32.18%. The country ranks 106 out of 191 countries in this aspect.

On the other hand, North Macedonia produces 6796.7 kt of CO2 emissions, significantly below the average of 171895.94 kt. This places North Macedonia at rank 119 out of 188 countries in CO2 emissions.

Summary

North Macedonia's renewable energy consumption falls below the global average, ranking 106th out of 191 countries. However, the country's CO2 emissions are significantly lower than the global average, ranking 119th out of 188 countries.

These statistics are crucial as they highlight North Macedonia's potential for further development in sustainable energy practices. By increasing renewable energy consumption and maintaining low CO2 emissions, the country can work towards enhancing environmental sustainability, reducing reliance on fossil fuels, and contributing to global climate change mitigation efforts.

Government Balance Sheet

North Macedonia's net acquisition of financial assets (% of GDP) is slightly below the average at 2.07%, ranking 36 out of 87 countries. The country's net incurrence of liabilities (% of GDP) is above average at 10.08%, ranking 24 out of 92 countries.

Furthermore, North Macedonia's total reserves (% of total external debt) are significantly below the average at 39.97%, placing it at rank 48 out of 102 countries. The reserves and related items (BoP, current US$) for North Macedonia are notably lower than the average at -74964270.66 USD, ranking 112 out of 171 countries.

In addition, North Macedonia's total reserves minus gold (current US$) are significantly below the average at 3707335437.58 USD, ranking 99 out of 161 countries. The total reserves (includes gold, current US$) for North Macedonia are also notably lower than the average at 4126254083.78 USD, ranking 95 out of 161 countries.

Lastly, North Macedonia's total reserves in months of imports are below the average at 5.26 months, ranking 86 out of 151 countries.

Summary

North Macedonia shows a mixed performance in key macroeconomic indicators. While the country's acquisition of financial assets as a percentage of GDP is slightly below average, its incurrence of liabilities is above average. However, North Macedonia's total reserves, both in percentage of total external debt and in terms of actual USD amounts, are significantly below average, impacting its rank compared to other countries.

These indicators are crucial as they reflect North Macedonia's financial stability, ability to manage debt, and overall economic resilience. Low reserves relative to external debt may indicate vulnerability to external shocks, while high liabilities and low asset acquisition could suggest challenges in achieving sustainable economic growth and development.

Government Revenue

North Macedonia's revenue, excluding grants, accounts for 27.70% of its GDP, slightly above the average of 27.02%. The country ranks 55th out of 122 countries in this aspect.

Grants and other revenue make up 7.13% of North Macedonia's total revenue, significantly below the average of 23.54%. This places the country at 95th out of 108 countries in this category.

North Macedonia's social contributions constitute 35.29% of its revenue, surpassing the average of 22.29%. The country ranks 16th out of 81 countries in this attribute.

The taxes on goods and services in North Macedonia represent 38.26% of its revenue, higher than the average of 31.82%. The country holds the 38th position out of 122 countries in this area.

North Macedonia's taxes on international trade stand at 3.56% of its revenue, below the average of 6.24%. This places the country at 51st out of 101 countries in terms of this tax category.

Other taxes contribute only 0.28% to North Macedonia's revenue, which is lower than the average of 2.12%. The country ranks 79th out of 106 countries regarding this type of tax.

Taxes on income, profits, and capital gains amount to 15.50% of North Macedonia's revenue, below the average of 24.66%. The country is ranked 91st out of 119 countries in this particular taxation aspect.

Summary

North Macedonia showcases a unique revenue composition compared to global averages. The country's heavy reliance on social contributions highlights a strong commitment to social welfare, as evidenced by its high ranking in this category. However, its lower-than-average reliance on income-related taxes signifies potential challenges in diversifying revenue sources and optimizing tax collection efficiency for sustainable economic development.

Taxes

Tax revenue (% of GDP): North Macedonia's tax revenue accounts for 16.13% of its GDP, slightly below the average of 16.72%. The country is ranked 63rd out of 123 countries in this aspect.

Customs and other import duties (% of tax revenue): North Macedonia's rate stands at 6.18%, lower than the average of 9.01%. This places the country 46th out of 99 countries in this category.

Taxes on income, profits and capital gains (% of total taxes): North Macedonia's percentage is 26.91%, below the average of 38.40%. The country ranks 95th out of 120 countries analyzed for this statistic.

Tariff rate, applied, weighted mean, all products (%): North Macedonia has a rate of 1.74%, well under the average of 5.21%. This places the country at the 103rd position out of 153 countries in terms of tariff rates.

Summary

North Macedonia's tax revenue as a percentage of its GDP is slightly below the global average, placing the country 63rd out of 123 countries. The country's customs and import duties rate is also below average, ranking 46th out of 99 countries. Furthermore, North Macedonia's taxes on income, profits, and capital gains are lower compared to the average, positioning it at 95th out of 120 countries in this category. Lastly, the country's applied tariff rate is significantly lower than the global average, placing it at the 103rd position out of 153 countries analyzed.

These statistics are crucial as they provide insights into North Macedonia's fiscal policies and trade regulations. Lower percentages in tax revenue and tariffs may indicate a more competitive environment for businesses and potentially attract foreign investments. However, it could also imply challenges in generating sufficient revenue for governmental activities and public services.

Government Expenses

1. Expense (% of GDP): North Macedonia's expense as a percentage of GDP is 34.92%, which is above the average of 31.69%. The country ranks 45th out of 123 countries in this attribute.

2. Compensation of employees (% of expense): North Macedonia's compensation of employees as a percentage of expense is 12.88%, below the average of 24.70%. The country ranks 99th out of 123 countries in this attribute.

3. Goods and services expense (% of expense): North Macedonia's goods and services expense as a percentage of total expense is 5.52%, below the average of 14.77%. The country ranks 110th out of 122 countries in this attribute.

4. Interest payments (% of expense): North Macedonia's interest payments as a percentage of expense is 3.44%, below the average of 6.85%. The country ranks 78th out of 121 countries in this attribute.

5. Other expense (% of expense): North Macedonia's other expenses as a percentage of total expense is 2.62%, below the average of 8.29%. The country ranks 103rd out of 120 countries in this attribute.

6. Subsidies and other transfers (% of expense): North Macedonia's subsidies and other transfers as a percentage of total expense is 75.54%, significantly above the average of 43.29%. The country ranks 9th out of 121 countries in this attribute.

Summary

North Macedonia has a high expense as a percentage of GDP compared to the average, ranking 45th globally. However, it allocates a lower percentage towards compensation of employees, goods and services, interest payments, and other expenses, ranking below average in these categories. Notably, the country devotes a significant portion of its expense to subsidies and other transfers, ranking 9th globally.

These findings are crucial as they shed light on North Macedonia's fiscal priorities and government spending distribution. The high allocation to subsidies and transfers could indicate a focus on social welfare programs or economic stimulus, impacting the country's economic development and welfare of its population.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Textiles and clothing (% of value added in manufacturing)	6/93
Public and publicly guaranteed debt service (% of GNI)	7/120
Merchandise trade (% of GDP)	15/186
Ores and metals imports (% of merchandise imports)	1/152
Subsidies and other transfers (% of expense)	9/121

Ranks in Bottom Decile For:

Attribute	Rank/Total
Fertility rate, total (births per woman)	182/190
Capture fisheries production (metric tons)	177/190
Total fisheries production (metric tons)	169/182
Foreign direct investment, net outflows (% of GDP)	140/155
Insurance and financial services (% of service exports, BoP)	154/161
Insurance and financial services (% of commercial service exports)	154/161
Merchandise imports by the reporting economy, residual (% of total merchandise imports)	165/180
Railways, passengers carried (million passenger-km)	58/64
Railways, goods transported (million ton-km)	56/62
Goods and services expense (% of expense)	110/122