Compasses can be made with the needle balanced specifically for the particular magnetic "zone" or made with a deep bowl and or special magnets and dampeners such that it may be used anywhere in the world. The latter generally cost a little more. It is not uncommon for compasses made for the northern hemisphere to be "sticky" or even jam, down here.
Interestingly, almost all the compasses I have examined specs for in the grades costing less than $150 have a limit of accuracy of around =- 2 degrees assuming you can read the scale and set it up rigidly. Realistically these compasses will allow you about +- 5 degrees which is good enough to march on when used in conjunction with a good contour map. Higher quality survey grade sighting and prismatics with half degree accuracy cost upwards of $150 and mostly well over that; commonly around $400+ for good quality survey hand held sighting compasses.
Silva;s made in USA or Canada are made in China and are rubbish, but genuine Swedish Silva are good. Suunto is excellent and so are Brunton. Prices per model vary considerably depending on who you buy from so it is worth shopping around.
A good protractor with imprinted map scales matching your up to date map is an essential bit of kit if you are doing any serious navigating.
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