Montenegro/Economy

Economy of Montenegro

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

Coming Soon
GDP (USD)
$7.5B(2023)
GDP PPP (USD)
$19.1B(2023)
GDP per Capita (USD)
$12,221(2023)
GDP Growth (inflation-adjusted)
6.3%(2023)
Inflation (CPI Annual %)
3.3%(2024)

Trade & Finance

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Exports (as share of GDP)
50%(2023)
Imports (as share of GDP)
68.6%(2023)
FDI Inflows (as share of GDP)
7%(2023)
Remittance Inflow (USD)
$805.0M(2023)

Labor & Income

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Unemployment Rate
14.1%(2024)
Employment in Services
77.8%(2023)
Poverty Rate
20.3%(2021)
GINI Index
34.3(2021)
GNI per Capita (USD)
$11,590(2023)

Energy & Environment

Coming Soon
Energy Use per Capita
1691 kg oil eq.(2022)
Renewable Energy Consumption (%)
39.6%(2021)

Economic Snapshot Overview

A summary of key economic indicators for Montenegro

  • 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 in Purchasing Power Parity (PPP) terms is estimated at $19.08B, reflecting the population's domestic purchasing power. The economy is experiencing robust 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, the nation's trade and financial dynamics reveal a complex interplay of factors. The nation runs a trade deficit, with exports at 50.0% of GDP and imports at 68.6%
    2023
    . Foreign Direct Investment (FDI) inflows are significant, constituting 6.98% of the economy
    2023
    . This performance positions the country 21st globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $804.96M annually
    2023
    , highlighting the economic importance of its diaspora.
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $11,590
    2023
    . Globally, this ranks the nation 71st out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The country faces significant labor market challenges, with an unemployment rate of 14.1%
    2024
    . The services sector is a primary driver of the labor market, accounting for 77.8% of total employment
    2023
    . Poverty remains a key issue, with 20.3% of the population living below the national poverty line
    2021
    . The country has a relatively equitable distribution of income, with a Gini index of 34.3
    2021
    .
  • On the environment and energy front, energy consumption per capita is 1,691.428 kg of oil equivalent
    2022
    . The country is a leader in clean energy, with renewable sources making up 39.6% of total final energy consumption
    2021
    . Its commitment to clean energy places it 131st among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

Maintaining a balance between growth, inflation, and employment is the central challenge for economic policymakers.

Trade & Investment Profile

A highly open, export-oriented economy that is deeply integrated into global markets and attractive to foreign capital.

Social Equity & Distribution

Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.

Energy & Sustainability

Transitioning to a sustainable energy model is critical for mitigating climate risk and ensuring long-term energy security.

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.