Filtering Members by Country
You can absolutely create a list of members who live in the same country.
The one thing to remember is that not every member who signs up has geographical information stored in their social profile. So, by filtering to a country you are missing out on some folks, but it's the best we can all do with the information available :)
Filter by Country in the Activity tab
This is just one of the ways you can filter by country. On any tab where you see these extra filters, you can select "country". You can also change the time period.