North Macedonia: Economic globalization

(measure: points; Source: The Swiss Institute of Technology in Zurich)
* indicates monthly or quarterly data series

North Macedonia: Economic globalization index (0-100)

, 1991 - 2018: For that indicator, we provide data for North Macedonia from 1991 to 2018. The average value for North Macedonia during that period was 55.56 points with a minimum of 31.8 points in 1994 and a maximum of 71.3 points in 2017. The latest value from 2018 is 70.26 points. For comparison, the world average in 2018 based on 188 countries is 58.85 points. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

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The KOF Economic Globalization Index for North Macedonia and other countries has two dimensions. First, it measures the economic flows between North Macedonia and the rest of the world in terms of international trade and international investment. The question is whether North Macedonia exchanges a lot of goods, services, and investments with other countries. Second, it measures the restrictions to trade and investment such as tariffs and capital controls on international investment. Each dimension is based on several variables that are combined in one overall index that ranges from 0 to 100.

Definition: Economic globalization has two dimensions: actual economic flows and restrictions to trade and capital. The sub-index on actual economic flows includes data on trade, FDI, and portfolio investment. The sub-index on restrictions takes into account hidden import barriers, mean tariff rates, taxes on international trade (as a share of current revenue), and an index of capital controls. More information and the original data can be obtained here.
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