All Analyses / Global Macro Fundamentals Index (GMFI)
Data
Active Year: 2023
Observation Year:
Fiscal Policy World Development Indicators (WDI) · 217 Sovereign Nations (1960–2025)
14,322 Harmonized Panel Obs

How do countries rank on the Global Macro Fundamentals Index?

An interactive, multi-dimensional empirical index evaluating 217 sovereign nations (1960–2024). Harmonizes aggregate scale, per capita productivity, price stability, and external solvency with real-time customizable weights and economic bloc filters.

Global Leader (2023)

Qatar

Score: 91.6 / 100

India Rank & Score

#93 / 205

Score: 59.5

G20 Median Inflation (2023)

5.56%

Price Stability Anchor: 3.0% Target

Global Median Output (2023)

$6,498

Constant 2015 USD per Capita

Interactive Index Engine

Customise Component Weights in Real Time

Adjust the four economic pillars below to recalculate national rankings across 217 sovereign countries instantly.

Model Presets:

Productivity (GDP PC) 35%

Real GDP per capita (constant 2015 $). Rewards worker efficiency & living standard.

Price Stability (CPI) 25%

Proximity to 3.0% inflation target (optimal 2–4% corridor). Penalizes runaway inflation and severe deflation.

External Solvency (CAB) 25%

Current account balance (% of GDP). Rewards trade resilience and foreign exchange solvency.

Economic Scale (GDP) 15%

Log nominal GDP (current $). Captures aggregate economic weight and systemic gravity.

Scale vs. GMFI Distribution Year 2023

X-Axis: Aggregate Scale (Log GDP) · Y-Axis: Dynamic Composite Score (0–100). Size proportional to population.

Observation Year:
2040608010020406080100Economic Scale Subscore →Composite Index Score (0–100) →#1 QAT#2 NOR#3 SGPJPNDEUUSACHNIND (#93)
India (#Focal) Top 3 Leaders High Income Upper Middle Lower Middle
India IND Focal

South Asia · Lower middle income

#93

Score: 59.5

Productivity (GDP PC) 37.7
Raw: $2,230
Price Stability (CPI) 86.75
Raw: 5.65% (Anchor: 3.0%)
External Solvency (CAB) 46.96
Raw: -0.91% of GDP
Economic Scale (GDP) 85.6
Raw: $3500.9B
Full India Dossier & Peers →

Click bubble on scatter or button above for multi-decade trajectory

Real-Time Country Leaderboard 205 of 205 Countries

Rankings dynamically update based on slider weightings above.

RankCountryEconomic BlocIncome TierComposite ScoreProductivity ($)Inflation (%)CAB (% GDP)Scale ($B)
#1
Qatar QAT Leader
OtherHigh income
91.6
$65,1113.03%17.11%$213.0B
#2
Norway NOR Leader
OECDHigh income
90.7
$83,1015.52%17.17%$502.2B
#3ASEANHigh income
90.3
$65,9774.83%16.39%$511.2B
#4OECDHigh income
88.1
$59,0273.31%11.01%$404.7B
#5BRICS+; OPECHigh income
86.9
$41,9271.63%13.13%$522.6B
#6OtherHigh income
86.5
$59,4740.48%29.28%$45.6B
#7OECDHigh income
86.4
$92,9482.14%5.86%$928.4B
#8OECDHigh income
86.3
$50,9613.84%9.41%$1135.5B
#9OECDHigh income
85.7
$105,4233.74%6.85%$88.8B
#10OPECHigh income
85.3
$24,7233.64%31.06%$165.5B
#11OECDHigh income
84.6
$93,5426.30%7.89%$567.4B
#12OtherHigh income
83.5
$43,5192.10%8.49%$380.8B
#13OtherHigh income
82.3
$23,1012.82%13.90%$16.9B
#14OtherHigh income
82.0
$51,3245.93%21.99%$2.0B
#15G7; OECDHigh income
81.9
$37,9033.27%3.61%$4384.9B
#16G7; OECDHigh income
81.1
$44,3695.95%5.50%$4562.2B
#17G7; OECDHigh income
80.0
$65,6674.12%-3.34%$27811.5B
#18ASEANHigh income
79.5
$28,6460.36%12.88%$15.1B
#19OtherHigh income
79.0
$114,245—15.35%$8.6B
#20G20; OECDHigh income
78.9
$36,3483.60%1.76%$1844.8B
#21OECDHigh income
78.7
$42,1324.23%3.06%$513.4B
#22OECDHigh income
78.3
$28,5593.53%2.73%$1619.5B
#23G7; OECDHigh income
77.9
$45,4963.88%-0.69%$2196.6B
#24G20; OECDHigh income
77.4
$61,8695.60%-0.43%$1734.5B
#25OECDHigh income
77.4
$53,9388.55%6.22%$579.0B
#26OECDHigh income
77.1
$44,8284.05%0.18%$650.8B
#27OtherHigh income
76.9
$15,9234.63%11.55%$25.0B
#28G20; OPECHigh income
76.8
$25,6352.33%2.13%$1218.6B
#29OtherHigh income
76.1
$33,4305.09%6.54%$22.6B
#30G7; OECDHigh income
75.9
$39,3194.88%-1.04%$3056.3B
#31G7; OECDHigh income
75.0
$34,2225.62%0.25%$2316.9B
#32OtherHigh income
73.7
$25,3430.07%5.84%$46.2B
#33OECDHigh income
73.3
$46,4987.81%1.31%$516.7B
#34OECDHigh income
72.7
$45,1966.25%-0.93%$295.2B
#35G7; OECDHigh income
72.6
$47,9116.79%-3.58%$3420.8B
#36OECDHigh income
72.5
$22,4174.31%0.55%$292.3B
#37G20; BRICS+Upper middle income
72.3
$12,4840.23%1.41%$18270.4B
#38OtherHigh income
71.8
$40,227—14.22%$3.8B
#39OPECUpper middle income
71.7
$4,3374.36%10.55%$268.9B
#40OECDHigh income
71.1
$25,7747.45%4.47%$69.3B
#41ASEANUpper middle income
71.0
$11,4452.49%1.56%$399.9B
#42OtherHigh income
70.7
$17,8540.95%2.29%$106.2B
#43G20; BRICS+High income
69.9
$10,5605.87%2.41%$2046.3B
#44OtherHigh income
69.5
$21,7013.19%—$7.2B
#45OtherLower middle income
69.1
$3,1181.45%18.50%$3.9B
#46ASEANUpper middle income
69.0
$3,7723.25%5.95%$433.8B
#47OECDHigh income
68.6
$59,9528.74%-1.20%$31.7B
#48OPECUpper middle income
68.6
$7,6302.37%4.24%$44.0B
#49OECDHigh income
68.5
$42,5015.73%-6.15%$256.4B
#50G20; BRICS+Upper middle income
67.9
$9,2884.59%-1.23%$2191.1B
#51G20; OECDUpper middle income
67.5
$10,2355.53%-0.70%$1794.4B
#52OtherUpper middle income
67.1
$5,6698.79%11.50%$72.4B
#53OtherHigh income
66.9
$33,0103.05%-7.00%$15.3B
#54OECDHigh income
66.9
$21,0513.46%-6.78%$242.9B
#55OtherHigh income
66.9
$225,884——$10.0B
#56ASEANUpper middle income
66.6
$6,4241.23%1.64%$517.0B
#57OtherUpper middle income
66.5
$6,1652.22%2.06%$120.8B
#58OtherHigh income
66.3
$16,8771.49%-3.19%$83.8B
#59OtherLower middle income
66.1
$2,5152.30%9.07%$30.8B
#60OECDHigh income
65.8
$14,5320.53%-1.42%$87.5B
#61OtherHigh income
65.4
$17,2257.94%0.74%$85.6B
#62OtherHigh income
65.2
$18,4045.87%-2.95%$79.2B
#63G20; ASEANUpper middle income
65.1
$4,1933.67%-0.15%$1371.2B
#64OtherHigh income
64.7
$32,0223.54%-9.70%$35.1B
#65OtherHigh income
64.7
$84,315——$7.6B
#66OECDHigh income
64.6
$18,7499.12%1.09%$80.4B
#67OtherHigh income
64.2
$69,818——$12.5B
#68OECDHigh income
63.9
$17,41011.53%1.54%$812.5B
#69OECDHigh income
63.6
$20,27310.66%-0.13%$345.1B
#70OtherUpper middle income
63.4
$7,2695.07%1.49%$19.4B
#71OPECUpper middle income
63.4
$6,5413.63%—$19.4B
#72OtherUpper middle income
63.1
$6,4524.63%0.28%$43.1B
#73OtherHigh income
63.0
$31,963—5.19%$3.7B
#74OECDHigh income
63.0
$14,2957.58%-3.10%$335.8B
#75OtherUpper middle income
62.9
$6,5756.46%0.48%$268.0B
#76OtherUpper middle income
62.5
$11,6663.82%-2.12%$2.4B
#77OtherUpper middle income
62.4
$8,8104.79%-3.67%$120.5B
#78OECDHigh income
62.4
$20,1269.16%-1.26%$41.5B
#79OtherUpper middle income
62.4
$4,4696.21%3.08%$104.3B
#80OtherUpper middle income
62.1
$6,4985.00%-1.04%$72.5B
#81OtherHigh income
62.1
$59,068——$3.9B
#82OPECUpper middle income
62.1
$4,9922.86%—$12.5B
#83OtherHigh income
61.9
$30,013——$118.5B
#84OtherUpper middle income
61.8
$6,1286.47%2.66%$21.4B
#85G20; BRICS+Upper middle income
61.7
$5,7576.08%-1.10%$381.4B
#86OtherHigh income
61.0
$49,930——$3.3B
#87OtherHigh income
60.8
$54,523——$1.6B
#88OtherUpper middle income
60.5
$6,2044.76%-1.66%$23.5B
#89OECDHigh income
60.2
$19,38310.53%-3.02%$133.6B
#90OtherUpper middle income
59.9
$4,4814.05%-1.74%$33.6B
#91OtherUpper middle income
59.7
$6,1664.39%-0.65%$3.1B
#92OtherUpper middle income
59.6
$5,1971.98%-2.77%$24.2B
#93
India IND Focal
G20; BRICS+Lower middle income
59.5
$2,2305.65%-0.91%$3500.9B
#94OECDHigh income
59.3
$16,2298.94%-3.89%$42.8B
#95OPECUpper middle income
59.2
$4,6609.32%2.62%$247.9B
#96OtherUpper middle income
59.2
$4,3732.08%-3.26%$56.1B
#97OtherHigh income
59.1
$9,7889.44%-1.15%$102.2B
#98OtherUpper middle income
59.1
$6,1812.49%-5.53%$30.8B
#99OtherUpper middle income
58.9
$5,460—15.74%$0.3B
#100OtherUpper middle income
58.8
$6,4936.11%-2.14%$27.6B
#101OtherLower middle income
58.8
$3,1232.58%-2.24%$52.3B
#102ASEANLower middle income
58.7
$2,0852.13%1.30%$42.3B
#103OtherLower middle income
58.4
$2,2418.39%8.23%$17.8B
#104ASEANUpper middle income
58.2
$3,7455.98%-2.83%$437.1B
#105OtherLower middle income
57.9
$3,4216.09%-1.05%$146.0B
#106OtherUpper middle income
57.7
$11,3317.05%-4.95%$14.1B
#107OtherHigh income
56.8
$20,665——$6.1B
#108OtherUpper middle income
56.7
$5,7622.98%-6.61%$5.5B
#109OtherUpper middle income
56.5
$4,1693.72%-2.77%$2.5B
#110OtherHigh income
56.5
$82,907—-9.72%$7.3B
#111OtherUpper middle income
56.5
$4,6887.92%3.84%$1.0B
#112OtherUpper middle income
56.2
$6,4249.36%0.32%$15.9B
#113OtherHigh income
56.0
$16,287-1.04%-7.12%$2.2B
#114OtherHigh income
55.9
$21,6643.56%-13.44%$1.1B
#115OtherUpper middle income
55.7
$4,166—40.03%$0.1B
#116OtherHigh income
55.5
$12,34110.40%-7.03%$347.8B
#117OtherLower middle income
55.2
$1,0177.80%8.48%$22.4B
#118OPECLower middle income
54.9
$1,6774.30%—$15.3B
#119OECDUpper middle income
54.6
$6,83711.74%-2.27%$366.9B
#120OtherHigh income
54.1
$17,9385.07%-12.91%$2.1B
#121OECDHigh income
54.0
$16,37517.12%-0.01%$213.0B
#122OtherUpper middle income
53.8
$5,1034.94%-7.19%$10.5B
#123OtherUpper middle income
53.6
$11,4402.90%-21.14%$6.6B
#124OtherUpper middle income
53.5
$4,45710.35%0.60%$20.3B
#125OtherUpper middle income
53.4
$7,880——$39.0B
#126OtherUpper middle income
53.2
$8,20812.37%-2.39%$81.3B
#127OtherUpper middle income
52.8
$11,45314.53%-3.16%$261.8B
#128OtherHigh income
52.5
$34,301—-6.92%$1.7B
#129OtherLower middle income
52.5
$3,9679.33%-2.30%$48.2B
#130OtherLower middle income
52.3
$1,1367.12%2.45%$41.0B
#131OtherLower middle income
51.7
$1,0933.80%-3.75%$79.0B
#132OtherLower middle income
51.5
$2,3154.37%-8.05%$80.8B
#133OtherLower middle income
51.5
$2,5276.66%-4.22%$34.4B
#134OtherLower middle income
51.1
$2,74913.64%3.95%$106.0B
#135OtherLower middle income
50.9
$1,8117.67%-2.55%$107.5B
#136OtherUpper middle income
50.8
$9,8182.70%-20.30%$1.3B
#137OtherLower middle income
50.5
$1,8859.88%-1.65%$437.4B
#138OtherLower middle income
50.2
$1,0115.49%—$9.7B
#139OtherHigh income
49.1
$8,150—1.19%$0.2B
#140OtherLower middle income
49.0
$3,790—2.14%$4.6B
#141OtherLower middle income
48.9
$4,2819.96%-7.25%$107.5B
#142OtherUpper middle income
48.6
$9,0514.56%-17.78%$1.1B
#143OtherUpper middle income
48.3
$8,2788.58%-11.14%$7.6B
#144OtherLower middle income
48.1
$1,2642.74%-8.18%$19.7B
#145OtherUpper middle income
48.1
$4,6806.35%-7.93%$0.6B
#146OtherLower middle income
48.0
$1,4687.38%-4.14%$48.8B
#147OtherUpper middle income
47.5
$3,97716.54%1.71%$84.1B
#148OtherUpper middle income
47.4
$8,9475.09%-40.37%$0.7B
#149OtherLower middle income
47.2
$3,17811.18%—$1.2B
#150OtherLow income
47.0
$8932.06%-6.50%$24.8B
#151OtherLow income
46.8
$3972.98%—$2.6B
#152OtherLower middle income
46.8
$1,407—4.77%$12.2B
#153OtherLower middle income
46.0
$1,6394.95%-9.04%$10.7B
#154OtherLow income
45.5
$9565.35%-7.43%$48.8B
#155OtherLow income
45.3
$7450.74%-5.06%$20.1B
#156OtherLower middle income
45.0
$1,3848.37%-1.68%$1.5B
#157OPECLower middle income
45.0
$1,428——$102.4B
#158OtherLower middle income
44.9
$3,9735.88%-15.03%$12.5B
#159OtherLower middle income
44.8
$3,4814.23%-33.91%$3.0B
#160OtherUpper middle income
44.8
$7,433———
#161G20; OECDUpper middle income
44.8
$14,93353.86%-3.63%$1141.2B
#162OtherLower middle income
44.3
$1,418—0.37%$35.9B
#163OtherLower middle income
44.1
$1,9909.28%-1.75%$0.3B
#164G20Upper middle income
43.8
$12,993133.49%-3.20%$649.5B
#165OtherLower middle income
43.8
$2,9975.87%-15.54%$18.6B
#166OtherUpper middle income
43.8
$2,16412.85%-5.15%$181.2B
#167ASEANLower middle income
43.6
$1,178——$66.8B
#168OtherUpper middle income
43.5
$2,948——$0.4B
#169OtherLower middle income
43.5
$1,33110.88%-3.04%$27.6B
#170OtherLow income
43.2
$85710.84%—$18.4B
#171OtherHigh income
42.7
$17,327—-19.95%$3.3B
#172BRICS+; OPECUpper middle income
41.6
$5,68844.58%—$457.5B
#173OtherLower middle income
41.4
$9736.34%-7.12%$2.1B
#174OtherLower middle income
41.1
$1,7965.89%-11.83%$1.5B
#175OtherLower middle income
40.3
$1,4595.94%-19.78%$30.7B
#176OtherLow income
40.0
$678——$39.9B
#177OtherLow income
38.9
$378-4.64%—$17.2B
#178OtherHigh income
38.9
$13,07112.82%-48.61%$0.3B
#179OtherUpper middle income
38.8
$3,75813.42%-11.06%$16.7B
#180OtherLow income
38.7
$7707.10%-7.71%$2.1B
#181OtherLower middle income
38.5
$1,2798.42%-9.26%$2.1B
#182OtherLow income
38.4
$4469.87%-2.83%$16.0B
#183OtherLow income
38.3
$5623.70%-13.76%$16.9B
#184OPECLower middle income
37.8
$2,28124.66%1.32%$487.4B
#185OtherLow income
37.4
$6117.13%-10.55%$20.9B
#186BRICS+Lower middle income
37.0
$4,11133.88%-3.17%$395.9B
#187OtherLow income
36.7
$465——$11.0B
#188ASEANLower middle income
36.2
$2,64931.23%2.55%$15.8B
#189OtherUpper middle income
34.9
$7,18651.59%-3.69%$3.5B
#190OtherLow income
34.7
$539—-5.56%$69.8B
#191OtherLower middle income
34.1
$1,61030.77%-0.31%$336.7B
#192OtherLower middle income
33.6
$2,09238.11%-0.91%$80.5B
#193OtherLower middle income
32.9
$1,29810.75%-44.93%$15.2B
#194OtherLower middle income
32.0
$1,38121.26%3.03%$0.7B
#195OtherHigh income
31.9
———$9.8B
#196OtherHigh income
31.8
———$8.2B
#197OtherLow income
31.6
$65310.09%-11.51%$4.4B
#198OtherLow income
28.5
$73616.97%-5.04%$2.4B
#199OtherLower middle income
27.1
$1,21936.81%-3.49%$19.6B
#200BRICS+Low income
27.0
$84230.22%-3.52%$135.9B
#201OtherLower middle income
26.1
$5,835221.34%-28.10%$20.1B
#202OtherLow income
23.4
$99419.79%-11.12%$14.8B
#203OtherLow income
21.8
$1,11447.64%-7.86%$6.4B
#204OtherLow income
12.8
$55728.79%-15.74%$13.4B
#205OtherLow income
7.4
$26526.94%-18.36%$3.4B

Showing all 205 sovereign observations · Scroll within table to explore full global rankings

Economic Bloc Macroeconomic Fundamentals (2023)

Real-time cross-sectional aggregation across geopolitical groupings in Year 2023.

G20 12 Countries
Avg Per Capita: $17,210
Avg Inflation: 19.21%
Current Account: -0.30%
Avg Nominal GDP: $3012.0B
BRICS+ 9 Countries
Avg Per Capita: $10,321
Avg Inflation: 14.75%
Current Account: 0.88%
Avg Nominal GDP: $3100.2B
OECD 38 Countries
Avg Per Capita: $40,009
Avg Inflation: 7.60%
Current Account: 1.23%
Avg Nominal GDP: $1721.5B
ASEAN 10 Countries
Avg Per Capita: $13,011
Avg Inflation: 6.13%
Current Account: 4.37%
Avg Nominal GDP: $381.0B

Methodology & Mathematical Framework Transparent & Reproducible

End-to-end pipeline: From raw World Bank series to multi-pillar normalization and annual rankings

1 Harmonization & Hygiene

14,322 country-year observations across 217 sovereign nations (1960–2025). Filtered out non-sovereign regional aggregates, harmonized to ISO-3 alpha codes, and mapped with geographic and economic bloc metadata.

2 Indicator Normalization

Diverse raw metrics (trillion-dollar scale, negative trade balances, double-digit inflation) transformed to a uniform [0, 100] scale using log-scaling, bounded winsorizing, and central anchor penalties.

3 Annual Cross-Sectional Ranking

Composite score computed via client-adjustable weights. Nations ranked per year to ensure policy fairness and prevent multi-decade macro shocks (1970s oil crisis, 2008 GFC, 2020 COVID) from distorting comparative health.

4 Core Pillars & Mathematical Formulas

1. Living Standards (Productivity) NY.GDP.PCAP.KD

Measures real purchasing power per citizen in constant 2015 USD ($200 to $120,000). Evaluated using logarithmic compression:

Formula:
S_prod = clamp0100 &Bigl( [ln(GDP_PC) − 5.298] / [11.695 − 5.298] × 100 &Bigr)
2. Price Stability (Monetary Anchor) FP.CPI.TOTL.ZG

Inflation has a non-linear welfare loss: anchored to a 3.0% central target with distance penalty:

Formula:
S_stab = clamp0100 &Bigl( 100 − [|Inflation − 3.0%| / 20.0%] × 100 &Bigr)
3. External Solvency (Resilience) BN.CAB.XOKA.GD.ZS

Current Account Balance (% of GDP) bounded within [−15%, +15%], with balanced equilibrium at 50:

Formula:
S_solv = clamp0100 &Bigl( [CAB% − (−15%)] / 30% × 100 &Bigr)
4. Economic Scale (Market Mass) NY.GDP.MKTP.CD

Nominal GDP mass ($10M to $30T). Logarithmic dampening prevents systemic hegemon compression:

Formula:
S_scale = clamp0100 &Bigl( [ln(GDP) − 16.118] / [31.032 − 16.118] × 100 &Bigr)
Global Composite Aggregation Function:
Composite = ∑i=14 (wi × Si) = (wprod × Sprod) + (wstab × Sstab) + (wsolv × Ssolv) + (wscale × Sscale)
Default Weights: 35% / 25% / 25% / 15%
Structural Divergence

Quality vs. Scale Separation

While the US and China dominate aggregate scale ($27T & $17.8T), productivity and stability-focused weightings lift small, disciplined surplus economies (Norway, Qatar, Singapore, Switzerland) to top tier ranks.

India Deep Dive

India's Macro Trajectory: Scale Surge vs. Per-Capita Gap

India ranks #5 globally in economic scale and maintains resilient external balances (-0.9% to -1.2% CAB), but per-capita real output ($2,367) places it in the middle tier (#103) under standard welfare-weighted indices.

Interactive Engine

Dynamic Real-Time Weighting

Users can adjust weightings between Productivity (35%), Price Stability (25%), External Solvency (25%), and Scale (15%) to observe instantaneous rank shifts across G20, BRICS+, and OECD blocs.