Independence Monument – Ashgabat, Turkmenistan
Where We Work
Macro-Advisory covers all twelve of the Eurasia states (plus Iran and Afghanistan) and topics and industries across the entire region
We provide regular country, regional and industry updates for our clients, including maintaining economic forecasts. We comment on macro, political, social, and key industry issues and trends.
Macro-Advisory also carries our bespoke strategic analysis and due-diligence work for clients across all countries and industries in the Eurasia region.
For examples of reports and previously published country analysis
For examples of reports and previously published country analysis
Roll over and click on the Map to find out more about the countries we cover
Click on the country to find out more
Armenia
Population* mln: 2.97
Median Age: 35.4
Capital City: Yerevan
Capital City, population, mln: 1.10
Political System: Parliamentary
President: Armen Sargsyan
Prime Minister: Nikol Pashinyan
Next election - Presidential: 2029
- Parliament: 2026
GDP, nominal, $ bln: $12.7
GDP, PPP based, $ bln: $37.4
GDP per capita, nominal, $: $4,276.1
GDP per capita, PPP based, $: $12,593
GDP Growth, % - 2021: 5.7%
- 2022(F): 2.6%
- 2023(F): 4.0%
Competitive Industries: Agriculture, Tourism, Hi-Tech, Mining, Transport
Main Exports: Gold, Copper, Tobacco
Afghanistan
Population* mln: 38.93
Median Age: 18.4
Capital City: Kabul
Capital City, population, mln: 4.44
Political System: Parliamentary
President: Ashraf Ghani
Prime Minister: Abdullah Abdullah
Next election - Presidential: 2024
- Parliament: No agreed date
GDP, nominal, $ bln: $19.8
GDP, PPP based, $ bln: $77.0
GDP per capita, nominal, $: $509
GDP per capita, PPP based, $: $1,979
GDP Growth, % - 2021: 8.3%
- 2022(F): 7.0%
- 2023(F): 7.2%
Competitive Industries: Mining, Agriculture
Main Exports: Vegetables, Fruits, Resins
Azerbaijan
Population* mln: 10.32
Median Age: 32.3
Capital City: Baku
Capital City, population, mln: 2.24
Political System: Presidential
President: Ilham Aliyev
Prime Minister: Ali Asadov
Next election - Presidential: 2025
- Parliament: 2025
GDP, nominal, $ bln: $42.6
GDP, PPP based, $ bln: $141.4
GDP per capita, nominal, $: $4,127.9
GDP per capita, PPP based, $: $13,700.0
GDP Growth, % - 2021: 5.6%
- 2022(F): 3.7%
- 2023(F): 2.8%
Competitive Industries: Oil, Gas, Chemicals, Transport
Main Exports: Oil, Gas, Chemicals, Vegetables
Belarus
Population* mln: 9.44
Median Age: 40.3
Capital City: Minsk
Capital City, population, mln: 1.98
Political System: Presidential
President: Alexander Lukashenko
Prime Minister: Roman Golovchenko
Next election - Presidential: 2025
- Parliament: 2023
GDP, nominal, $ bln: $60.3
GDP, PPP based, $ bln: $180.8
GDP per capita, nominal, $: $6,387.7
GDP per capita, PPP based, $: $19,148.0
GDP Growth, % - 2021: 2.3%
- 2022(F): -6.0%
- 2023(F): 0.5%
Competitive Industries: Potash, Agriculture, Tourism, Hi-Tech
Main Exports: Fuels, Dairy Produce, Fertilizers
Georgia
Population* mln: 3.98
Median Age: 38.3
Capital City: Tbilisi
Capital City, population, mln: 1.1
Political System: Parliamentary
President: Salome Zourabichvili
Prime Minister: Irakli Garibashvili
Next election - Presidential: 2024
- Parliament: 2024
GDP, nominal, $ bln: $15.9
GDP, PPP based, $ bln: $56.1
GDP per capita, nominal, $: $3,995.0
GDP per capita, PPP based, $: $14,089.0
GDP Growth, % - 2021: 10.4%
- 2022(F): 3.0%
- 2023(F): 5.0%
Competitive Industries: Mining, Tourism, Agriculture
Main Exports: Ores, Beverages, Vehicles
Iran
Population* mln: 86.1
Median Age: 32
Capital City: Tehran
Capital City, population, mln: 8.69
Political System: Islamic Republic - Power Shared
Supreme leader: Ali Hosseini Khamenei
President: Ebrahim Raisi
Prime Minister: Position has been abolished
Next election - Presidential: 2025
- Parliament: 2024
GDP, nominal, $ bln: $203.5
GDP, PPP based, $ bln: $397.9
GDP per capita, nominal, $: $6,359.4
GDP per capita, PPP based, $: $12,433.0
GDP Growth, % - 2021: 5.9%
- 2022(F): 2.0%
- 2023(F): 2.3%
Competitive Industries: Hydrocarbons, Petrochemicals, Tourism, Agriculture
Main Exports: Fuels, Vegetables, Chemicals
* Persian year starts in March
Kazakhstan
Population* mln: 19.2
Median Age: 30.7
Capital City: Astana
Capital City, population, mln: 1.0
Political System: Presidential
President: Kassym-Jomart Tokayev
Prime Minister: Alihan Smaiylov
Next election - Presidential: 2024
- Parliament: 2026
GDP, nominal, $ bln: $185.0
GDP, PPP based, $ bln: $486.5
GDP per capita, nominal, $: $9,635.4
GDP per capita, PPP based, $: $25,337.0
GDP Growth, % - 2021: 4.0%
- 2022(F): 2.3%
- 2023(F): 3.5%
Competitive Industries: Hydrocarbons, Agriculture, Tourism, Mining, Transport
Main Exports: Oil, Gas, Chemicals, Grains, Copper
Kyryz Republic
Population* mln: 6.74
Median Age: 26
Capital City: Bishkek
Capital City, population, mln: 0.976
Political System: Parliamentary
President: Sadyr Japarov
Chairman of Cabinet of Ministers: Ulukbek Maripov
Next election - Presidential: 2026
- Parliament: 2026
GDP, nominal, $ bln: $7.7
GDP, PPP based, $ bln: $31.7
GDP per capita, nominal, $: $1,148.4
GDP per capita, PPP based, $: $4,706.0
GDP Growth, % - 2021: 3.6%
- 2022(F): 2.2%
- 2023(F): 2.8%
Competitive Industries: Mining, Tourism, Agriculture
Main Exports: Gold, Copper, Cotton, Vegetables
Mongolia
Population* mln: 3.38
Median Age: 28.2
Capital City: Ulaanbaatar
Capital City, population, mln: 1.62
Political System: Parliamentary
President: Ukhnaagiin Khürelsükh
Prime Minister: Luvsannamsrai Oyun-Erdene
Next election - Presidential: 2027
- Parliament: 2024-June
GDP, nominal, $ bln: $13.2
GDP, PPP based, $ bln: $38.8
GDP per capita, nominal, $: $3,890.5
GDP per capita, PPP based, $: $11,471.0
GDP Growth, % - 2021: 1.4%
- 2022(F): 2.6%
- 2023(F): 5.7%
Competitive Industries: Mining, Transport, Textiles
Main Exports: Gold, Copper, Textiles
Russia
Population* mln: 146.1
Median Age: 39.6
Capital City: Moscow
Capital City, population, mln: 11.9
Political System: Presidential
President: Vladimir Putin
Prime Minister: Mikhail Mishustin
Next election - Presidential: 2024 - March
- Parliament: 2021 - September
GDP, nominal, $ bln: $1,485.0
GDP, PPP based, $ bln: $3,865.2
GDP per capita, nominal, $: $10,164.3
GDP per capita, PPP based, $: $26,456.0
GDP Growth, % - 2021: 4.7%
- 2022(F): -7.0%
- 2023(F): 1.8%
Competitive Industries: Agriculture, Tourism, Hi-Tech, Mining, Transport
Main Exports: Oil, Gas, Chemicals , Metals, Grains
Tajikstan
Population* mln: 9.97
Median Age: 22.4
Capital City: Dushanbe
Capital City, population, mln: 0.77
Political System: Presidential
President: Emomali Rahmon
Prime Minister: Kokhir Rasulzoda
Next election - Presidential: 2027
- Parliament: 2025
GDP, nominal, $ bln: $8.2
GDP, PPP based, $ bln: $36.5
GDP per capita, nominal, $: $821.5
GDP per capita, PPP based, $: $3,658.0
GDP Growth, % - 2021: 9.2%
- 2022(F): 2.8%
- 2023(F): 3.3%
Competitive Industries: Mining, Tourism, HydroPower
Main Exports: Alumimum, Cotton, Coal
Turkmenistan
Population* mln: 6.2
Median Age: 26.7
Capital City: Ashgabat
Capital City, population, mln: 1.0
Political System: Presidential
President: Gurbanguly Berdimuhamedow
Deputy PM (no current PM): Raşit Meredow
Next election - Presidential: 2029
- People's Council: 2026
GDP, nominal, $ bln: $61.0
GDP, PPP based, $ bln: $96.3
GDP per capita, nominal, $: $9,838.7
GDP per capita, PPP based, $: $15,538.0
GDP Growth, % - 2021: 5.0%
- 2022(F): 6.0%
- 2023(F): 5.8%
Competitive Industries: Oil, Gas, Transport, Agriculture
Main Exports: Gas, Vegetables
Ukraine
Population* mln: 43.2
Median Age: 2.88
Capital City: Kyiv
Capital City, population, mln: 1.2
Political System: Shared
President: Volodymyr Zelensky
Prime Minister: Denys Shmyhal
Next election - Presidential: 2024
- Parliament: 2023 - October
GDP, nominal, $ bln: $155.0
GDP, PPP based, $ bln: $534.7
GDP per capita, nominal, $: $3,588.0
GDP per capita, PPP based, $: $12,377.0
GDP Growth, % - 2021: 3.4%
- 2022(F): -30.0%
- 2023(F): 25.0%
Competitive Industries: Mining, Agriculture, Transport, Tourism, Services
Main Exports: Iron & Steel, Coal, Grains
* all data is subject to revision when the consequences of the conflict can be assessed
Uzbekistan
Population* mln: 34.3
Median Age: 27.8
Capital City: Tashkent
Capital City, population, mln: 2.39
Political System: Presidential
President: Shavkat Mirziyoyev
Prime Minister: Abdulla Aripov
Next election - Presidential: 2026
- Parliament: 2022 - June
GDP, nominal, $ bln: $63.1
GDP, PPP based, $ bln: $239.9
GDP per capita, nominal, $: $1,839.7
GDP per capita, PPP based, $: $6,994.0
GDP Growth, % - 2021: 5.5%
- 2022(F): 5.0%
- 2023(F): 5.2%
Competitive Industries: Mining, Agriculture, Textiles, Renewable Energy, Tourism
Main Exports: Gold, Copper, Cotton, Vegetables
