Source
Central bank

Central Bank of Montenegro

International Reserves

USD 2.13 billion (2020)
World Bank, last updated 12/16/2021

Gross Domestic Product - GDP

USD 5.49 billion (2021 estimate)
IMF - World Economic Outlook, October 2021

GDP (Purchasing Power Parity)

USD 13.30 billion (2021 estimate)
IMF - World Economic Outlook, October 2021

Real GDP growth
2017 2018 2019 2020 2021*
4.7% 5.1% 4.1% –15.2% 7%

*Estimate

GDP per capita - current prices

USD 8,837.58 (2021 estimate)
IMF - World Economic Outlook, October 2021

GDP per capita - PPP

USD 21,386.95 (2021 estimate)
IMF - World Economic Outlook, October 2021

GDP (PPP) - share of world total
0.01% (2021 estimate)
 
 
Source
GDP - composition by sector
  • Agriculture: 6.4%
  • Industry: 16.1%
  • Services: 58.7%

(2019 estimate)

Gross domestic expenditure on R&D; (% of GDP)

N/A

Inflation
2017 2018 2019 2020* 2021*
2.4% 2.6% 0.4% -0.2% 2%

*Estimate

Unemployment rate

N/A

Household saving rates
2017 2018 2019 2020 2021
4.7% 4.3% 3.7% -7% 4.5%*

*Estimate

Public debt (General government gross debt as a % of GDP)
2017 2018 2019 2020* 2021*
66.2% 71.9% 78.8% 107.2% 93.4%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2017 2018 2019 2020* 2021*
–4.4% –4% 0.4% -8.2% –2.4%

*Estimate

Government bond ratings

Standard & Poor's: B

Moody's: B1

Standard & Poor's / Moody's (Updated January 2017)

Market value of publicly traded shares

USD 3.8 billion (2012)

World Bank / Market capitalization

Largest companies

N/A

 
 
Source
Current account balance

USD -1.2 billion (2021 estimate)
IMF - World Economic Outlook, October 2021

Current account balance by percentage of GDP

-21% (2021 estimate)
IMF - World Economic Outlook, October 2021

Exports as percent of GDP (Exports of goods and services)

26% (2020)
World Bank - World Development Indicators (updated Feb 2022)

Shares in world total merchandising export

0.002% (2020)

Shares in world total commercial services export

0.02% (2020)
Compiled by GFMag - Based on World Bank - World Development Indicators

Total exports

USD 1.2 billion (2020 estimate)

Export commodities

Aluminum, packaged medicines, cars, zinc, wine (2019)

Total imports

USD 2.9 billion (2020 estimate)

 
 
Source
Import commodities

Refined petroleum, cars, packaged medicines, recreational boats, cigarettes (2019)

Exports - major partners

Serbia 17%, Hungary 15%, China 11%, Russia 7%, Bosnia and Herzegovina 6%, Germany 6%, Italy 5%, Poland 5% (2019)

Imports - major partners

Serbia 30%, Bosnia and Herzegovina 8%, Croatia 8%, Italy 6%, Greece 6%, Germany 5% (2019)

FDI inflows
2019 2020 2021
USD 490 million USD 417 million USD 529 million
FDI outflows
2019 2020 2021
USD 109 million USD 75 million USD –5.2 million
Value of cross-border M&A, by country of purchaser

N/A

Cross-border M&A deals worth over $3 billion completed in 2014

N/A

Cross-border M&A deals worth over $3 billion completed in 2015

N/A

Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 50 out of 190 countries (2020)

Subcategories:

Starting a Business: 101 out of 190 countries
Dealing with Construction Permits: 40 out of 190 countries
Getting Electricity: 134 out of 190 countries
Registering Property: 83 out of 190 countries
Getting Credit: 15 out of 190 countries
Protecting Minority Investors: 61 out of 190 countries
Paying Taxes: 75 out of 190 countries
Trading across Borders: 41 out of 190 countries
Enforcing Contracts: 44 out of 190 countries
Resolving Insolvency: 43 out of 190 countries
World Bank - Doing Business 2020

Global competitiveness ranking

75 out of 141 countries

(2019)

Index of Economic Freedom

Ranking: 103 / Score: 57.8 (Mostly Unfree)
The Heritage Foundation - 2022 Index of Economic Freedom

 
 
Source
Time zone

UTC+1

Total area

13,812 sq km

Capital

Podgorica; note - Cetinje retains the status of "Old Royal Capital"

Currency

Euros (EUR) 

Government type

Parliamentary republic

Languages

Serbian 42.9%, Montenegrin (official) 37%, Bosnian 5.3%, Albanian 5.3%, Serbo-Croat 2%, other 3.5%, unspecified 4% (2011 est.)

Religions

Orthodox 72.1%, Muslim 19.1%, Catholic 3.4%, atheist 1.2%, other 1.5%, unspecified 2.6% (2011 est.)

Total population
1990 2000 2010 2015 2020
0.61 million 0.60 million 0.62 million 0.62 million 0.62 million
 
 
Source
Urban population as % of total population
1960 1980 2000 2020
18.8% 36.8% 58.5% 67.5%
Population median age

39.6 (2022 estimate)

Population growth rate

-0.41% (2022 est.)

Life expectancy

77.8 years

Literacy

Total population: 98.8%

Male: 99.5%

Female: 98.3% (2018)

Definition: age 15 and over can read and write 

% of population living on less than $3.10 a day

6.4% (last available estimate, 2018)

Inequality of wealth distribution (Gini index)

36.8 (last available estimate, 2018)

Freedom House rating

Total score: 67/100

Status: Partly Free

Political Rights: 26/40

Civil Liberties: 41/60 (2022)

Source
Total telephone subscribers as % of population

Fixed: 30.5%

Mobile: 172.0% (2020)

(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

77.6% (2020)

Mercer Cost of living index

N/A

CO2 emissions

4.0 metric tons per capita (2018)

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