Europe & Central Asia · Upper middle income
Montenegro: the economy in numbers
Per person: $14,817, or $35,423 at purchasing power parity. Population: 623,129 (2025).
GDP in 2025, current US dollars: #154 of 204 economies. IMF forecast for 2026: +3.0%.
GDP
Adjusted for US inflation, in 2025 dollars: $1.68 billion in 1997, $9.23 billion in 2025.
GDP per capita
In 2025 dollars: $2,761 per person in 1997, $14,817 in 2025.
Real GDP growth
Average over 2016–2025: 3.2% a year. Years of falling GDP since 1998: 4 of 28.
Source: International Monetary Fund, World Economic Outlook (October 2026)
Inflation
Consumer prices rose by 91.2% from 2005 to 2025. Highest annual inflation: 29.9% in 2000.
Source: International Monetary Fund, World Economic Outlook (October 2026)
Government debt, % of GDP
Highest since 2002: 106.4% of GDP in 2020. IMF forecast for 2031: 64.9%.
Stock market capitalization, % of GDP
In 2012 listed domestic companies were worth $3.79 billion, or 93.0% of GDP.
Population
1960: 480,579 · 2025: 623,129.
Unemployment rate
1991: 30.1% · 2025: 13.6%.
Life expectancy at birth
1960: 65.5 years · 2024: 77.9 years.
Exports of goods and services
2000: 36.8% · 2025: 40.1%.
Data by year
Show the year-by-year table
| Year | GDP | GDP per capita | Per capita, PPP | Real growth | Inflation | Gov. debt, % GDP | Population | Unemployment | Stock market, % GDP | Life expectancy | Exports, % GDP |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2031 | 3.0%f | 2.2%f | 64.9%f | ||||||||
| 2030 | 3.0%f | 2.2%f | 63.7%f | ||||||||
| 2029 | 3.0%f | 2.2%f | 62.4%f | ||||||||
| 2028 | 3.0%f | 2.3%f | 61.8%f | ||||||||
| 2027 | 2.8%f | 3.3%f | 61.1%f | ||||||||
| 2026 | 3.0%f | 3.5%f | 66.8%f | ||||||||
| 2025 | $9.23B | $14,817 | $35,423 | 2.7% | 3.9% | 63.5% | 623K | 13.6% | 40.1% | ||
| 2024 | $8.27B | $13,270 | $34,063 | 3.2% | 3.3% | 59.8% | 624K | 13.2% | 77.9 | 43.7% | |
| 2023 | $7.64B | $12,258 | $31,863 | 6.5% | 8.6% | 58.4% | 624K | 13.1% | 77.6 | 49.2% | |
| 2022 | $6.26B | $10,038 | $28,050 | 7.7% | 13.0% | 69.0% | 624K | 14.9% | 76.2 | 51.3% | |
| 2021 | $5.82B | $9,316 | $23,690 | 13.0% | 2.4% | 84.6% | 625K | 16.5% | 73.8 | 43.1% | |
| 2020 | $4.73B | $7,555 | $20,625 | −15.0% | −0.3% | 106.4% | 627K | 17.9% | 75.9 | 26.3% | |
| 2019 | $5.48B | $8,749 | $23,705 | 4.4% | 0.4% | 77.4% | 627K | 15.1% | 76.7 | 44.3% | |
| 2018 | $5.43B | $8,674 | $21,084 | 4.7% | 2.6% | 71.0% | 626K | 15.2% | 77.9 | 43.5% | |
| 2017 | $4.8B | $7,674 | $19,357 | 3.2% | 2.4% | 64.9% | 626K | 16.1% | 76.7 | 41.5% | |
| 2016 | $4.36B | $6,968 | $18,030 | 3.4% | −0.3% | 64.7% | 625K | 17.7% | 76.5 | 40.8% | |
| 2015 | $4.01B | $6,421 | $16,092 | 2.5% | 1.5% | 67.4% | 625K | 17.6% | 76.6 | 42.7% | |
| 2014 | $4.58B | $7,342 | $15,276 | 2.4% | −0.7% | 60.1% | 624K | 18.1% | 76.3 | 40.3% | |
| 2013 | $4.42B | $7,103 | $14,692 | 3.4% | 2.2% | 55.7% | 623K | 19.6% | 76.5 | 41.8% | |
| 2012 | $4.07B | $6,552 | $13,792 | −2.5% | 4.1% | 53.6% | 621K | 19.8% | 93.0% | 76.3 | 42.2% |
| 2011 | $4.51B | $7,266 | $14,347 | 3.4% | 3.5% | 45.9% | 620K | 19.8% | 77.9% | 76.1 | 42.4% |
| 2010 | $4.14B | $6,679 | $13,612 | 2.8% | 0.7% | 42.0% | 619K | 19.6% | 77.9% | 76.0 | 36.7% |
| 2009 | $4.16B | $6,727 | $12,976 | −6.0% | 3.5% | 40.7% | 618K | 19.1% | 75.1 | 34.5% | |
| 2008 | $4.56B | $7,390 | $13,802 | 6.9% | 8.8% | 31.2% | 617K | 17.1% | 76.1% | 75.1 | 39.6% |
| 2007 | $3.68B | $5,979 | $12,452 | 7.1% | 4.3% | 28.2% | 616K | 19.4% | 74.3 | 43.0% | |
| 2006 | $2.72B | $4,423 | $10,440 | 8.6% | 2.9% | 32.4% | 615K | 24.8% | 73.8 | 40.6% | |
| 2005 | $2.26B | $3,676 | $8,314 | 4.2% | 3.4% | 38.6% | 614K | 30.3% | 74.0 | 43.5% | |
| 2004 | $2.08B | $3,386 | $7,841 | 4.4% | 3.1% | 45.4% | 613K | 30.3% | 74.2 | 42.0% | |
| 2003 | $1.71B | $2,790 | $7,340 | 2.5% | 7.5% | 48.6% | 612K | 30.4% | 74.1 | 30.6% | |
| 2002 | $1.29B | $2,109 | $7,100 | 1.9% | 19.7% | 85.7% | 610K | 30.4% | 74.0 | 35.4% | |
| 2001 | $1.16B | $1,910 | $6,772 | 1.1% | 23.7% | 607K | 30.5% | 73.6 | 38.4% | ||
| 2000 | $984M | $1,627 | $6,004 | 3.1% | 29.9% | 605K | 30.4% | 73.4 | 36.8% | ||
| 1999 | $829M | $1,368 | $5,684 | −9.4% | 606K | 30.5% | 73.1 | ||||
| 1998 | $854M | $1,406 | $6,170 | 4.9% | 608K | 30.2% | 73.3 | ||||
| 1997 | $838M | $1,375 | $5,799 | 610K | 30.2% | 73.3 | |||||
| 1996 | 611K | 30.2% | 73.4 | ||||||||
| 1995 | 612K | 30.2% | 73.6 | ||||||||
| 1994 | 611K | 30.2% | 73.6 | ||||||||
| 1993 | 610K | 30.2% | 73.7 | ||||||||
| 1992 | 609K | 30.2% | 73.6 | ||||||||
| 1991 | 607K | 30.1% | 73.8 | ||||||||
| 1990 | 606K | 73.7 | |||||||||
| 1989 | 607K | 73.6 | |||||||||
| 1988 | 607K | 73.2 | |||||||||
| 1987 | 608K | 73.0 | |||||||||
| 1986 | 608K | 72.6 | |||||||||
| 1985 | 605K | 72.2 | |||||||||
| 1984 | 601K | 72.1 | |||||||||
| 1983 | 595K | 72.1 | |||||||||
| 1982 | 587K | 72.1 | |||||||||
| 1981 | 579K | 71.9 | |||||||||
| 1980 | 573K | 72.0 | |||||||||
| 1979 | 567K | 71.3 | |||||||||
| 1978 | 562K | 71.7 | |||||||||
| 1977 | 558K | 71.6 | |||||||||
| 1976 | 553K | 71.8 | |||||||||
| 1975 | 546K | 71.7 | |||||||||
| 1974 | 539K | 71.4 | |||||||||
| 1973 | 530K | 71.4 | |||||||||
| 1972 | 522K | 71.0 | |||||||||
| 1971 | 515K | 70.6 | |||||||||
| 1970 | 512K | 70.2 | |||||||||
| 1969 | 513K | 70.0 | |||||||||
| 1968 | 517K | 69.6 | |||||||||
| 1967 | 523K | 69.1 | |||||||||
| 1966 | 526K | 68.4 | |||||||||
| 1965 | 526K | 67.9 | |||||||||
| 1964 | 522K | 67.2 | |||||||||
| 1963 | 513K | 66.6 | |||||||||
| 1962 | 503K | 66.2 | |||||||||
| 1961 | 491K | 65.9 | |||||||||
| 1960 | 481K | 65.5 |
e: IMF estimate; f: IMF forecast. Inflation: IMF data for 2000–2005, World Bank for the other years.
Nearby economies in Europe & Central Asia
Nearest by distance between capitals, with GDP per capita.
Albania · Andorra · Armenia · Austria · Azerbaijan · Belarus · Belgium · Bosnia and Herzegovina · Bulgaria · Channel Islands · Croatia · Cyprus · Czechia · Denmark · Estonia · Faroe Islands · Finland · France · Georgia · Germany · Gibraltar · Greece · Greenland · Hungary · Iceland · Ireland · Isle of Man · Italy · Kazakhstan · Kosovo · Kyrgyzstan · Latvia · Liechtenstein · Lithuania · Luxembourg · Moldova · Monaco · Montenegro · Netherlands · North Macedonia · Norway · Poland · Portugal · Romania · Russia · San Marino · Serbia · Slovakia · Slovenia · Spain · Sweden · Switzerland · Tajikistan · Turkmenistan · Türkiye · Ukraine · United Kingdom · Uzbekistan
Rankings
GDP by country · GDP per capita · Real GDP growth · Inflation by country · Government debt to GDP · Stock market to GDP · Population by country · Unemployment by country
Data and methods
- GDP: gross domestic product in current US dollars, converted from the local currency at market exchange rates (World Bank); not adjusted for inflation.
- Purchasing power parity (PPP): GDP per person in international dollars, which buy the same basket of goods and services in every country. It compares living standards across countries in the same year; it is not adjusted for inflation over time.
- In 2025 dollars: the charts can remove US inflation (US consumer price index, annual average) so that dollar amounts from different years compare in today's money. Exchange rate swings still show.
- Growth and inflation: World Bank data (calendar years). Years the World Bank does not cover yet, and the estimates and forecasts, come from the IMF World Economic Outlook (October 2026): its forecasts start in 2026, and the years after a country's last actual year are IMF estimates.
- Government debt: gross debt of the general government (central, state and local government and social security funds) as a percentage of GDP, IMF. The World Bank's central government debt is narrower and covers fewer countries.
- Stock market capitalization: the end-of-year value of domestic companies listed on the country's exchanges (World Federation of Exchanges via the World Bank; before 2016, Standard & Poor's), as a percentage of GDP: the “Buffett indicator”. Investment funds are excluded, and so are companies listed only abroad; companies from elsewhere that list on an exchange count for its country (Hong Kong lists many mainland Chinese companies).
- Unemployment: ILO modeled estimates (share of the labor force); comparable across countries, but they may differ from national figures.
Source: World Bank, World Development Indicators (CC BY 4.0)
Source: International Monetary Fund, World Economic Outlook (October 2026)