The economic architecture of Montenegro is substantial, anchored by a Gross Domestic Product (GDP) of approximately $7.53B
2023
. This places it as the 151st largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $12.22K
2023
, while its GDP adjusted for Purchasing Power Parity (PPP) is estimated at $19.08B, offering a clearer picture of the population's domestic purchasing power. The economy is experiencing a period of vigorous expansion, with a high growth rate of 6.3%
2023
, while managing moderate inflation, with a CPI of 3.3%.
2024
On the global stage, Montenegro's trade and financial dynamics reveal a complex interplay of international and domestic factors. The nation's economic activity is heavily reliant on foreign goods, running a considerable trade deficit with imports at 68.6% of GDP and exports at 50.0%
2023
. The investment climate attracts significant Foreign Direct Investment (FDI), with inflows constituting 6.98% of the economy
2023
. This performance positions the country 21st globally out of 186 nations, confirming its status as a competitive destination for foreign capital. Furthermore, personal remittances from its diaspora are a vital component of the economy, amounting to a substantial $804.96M annually
2023
.
The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $11,590
2023
, ranking the nation 71st out of 190. This figure provides a comprehensive measure of the average income per person, reflecting the nation's overall economic well-being. The country confronts significant labor market challenges, evidenced by a high unemployment rate of 14.1%.
2024
A key feature of the workforce is its concentration in the services sector, which accounts for 77.8% of total employment
2023
. Despite its economic standing, poverty remains a salient issue, with 20.3% of the population living below the national poverty line
2021
. The country achieves a relatively equitable distribution of income, reflected in a low Gini index of 34.3.
2021
In the environmental and energy sectors, the nation's policies and outcomes reflect its developmental priorities. Energy consumption per capita stands at 1,691.428 kg of oil equivalent
2022
, a metric that often correlates with industrial activity and living standards. A significant commitment to sustainability is evident, with renewable energy accounting for 39.6% of consumption
2021
. This commitment places it 131st among 190 countries, highlighting its relative progress in decarbonization.

Key Economic Insights

Macroeconomic Health

Balancing growth, inflation, and employment remains the core challenge for economic stewardship.

Trade & Investment Profile

The orientation towards global trade and foreign investment is a defining feature of the economic landscape.

Social Equity & Distribution

Ensuring equitable distribution of economic gains is fundamental for long-term social and political stability.

Energy & Sustainability

The transition to a sustainable energy framework is paramount for mitigating climate risk and securing future energy needs.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.