World Factbook
Montenegro
Last updated: 2026-03-28 (today)
Budget
note
note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated
revenues
$1.463 billion (2015 est.)
expenditures
$1.491 billion (2015 est.)
Exports
note
note: balance of payments - exports of goods and services in current dollars
Exports 2022
$3.177 billion (2022 est.)
Exports 2023
$3.769 billion (2023 est.)
Exports 2024
$3.629 billion (2024 est.)
Imports
note
note: balance of payments - imports of goods and services in current dollars
Imports 2022
$4.614 billion (2022 est.)
Imports 2023
$5.167 billion (2023 est.)
Imports 2024
$5.478 billion (2024 est.)
Industries
steelmaking, aluminum, agricultural processing, consumer goods, tourism
Labor force
245,300 (2024 est.)
note: number of people ages 15 or older who are employed or seeking work
Public debt
note
note: data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intragovernmental debt; intragovernmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions
Public debt 2017
67.2% of GDP (2017 est.)
Remittances
note
note: personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022
13.3% of GDP (2022 est.)
Remittances 2023
10.7% of GDP (2023 est.)
Remittances 2024
10.6% of GDP (2024 est.)
Exchange rates
note
note: Montenegro, which is neither an EU member state nor a party to a formal EU monetary agreement, uses the euro as its de facto currency
Currency
euros (EUR) per US dollar -
Exchange rates 2020
0.877 (2020 est.)
Exchange rates 2021
0.845 (2021 est.)
Exchange rates 2022
0.951 (2022 est.)
Exchange rates 2023
0.925 (2023 est.)
Exchange rates 2024
0.924 (2024 est.)
Debt - external
note
note: present value of external debt in current US dollars
Debt - external 2023
$3.643 billion (2023 est.)
Economic overview
upper-middle-income, small Balkan economy; uses euro as de facto currency; reduced growth due to slowdown in tourism and industrial production; new impetus for EU accession under Europe Now government; energy price cap and declining food and services prices easing inflation rate
Unemployment rate
note
note: % of labor force seeking employment
Unemployment rate 2022
14.9% (2022 est.)
Unemployment rate 2023
14.7% (2023 est.)
Unemployment rate 2024
14.1% (2024 est.)
Exports - partners
Italy 38%, Serbia 13%, Spain 6%, Slovenia 5%, Bosnia & Herzegovina 4% (2023)
note: top five export partners based on percentage share of exports
Imports - partners
Serbia 21%, China 10%, Germany 8%, Croatia 6%, Italy 6% (2023)
note: top five import partners based on percentage share of imports
Real GDP per capita
note
note: data in 2021 dollars
Real GDP per capita 2022
$25,400 (2022 est.)
Real GDP per capita 2023
$27,000 (2023 est.)
Real GDP per capita 2024
$27,900 (2024 est.)
Real GDP growth rate
note
note: annual GDP % growth based on constant local currency
Real GDP growth rate 2022
6.4% (2022 est.)
Real GDP growth rate 2023
6.3% (2023 est.)
Real GDP growth rate 2024
3% (2024 est.)
Agricultural products
milk, potatoes, watermelons, grapes, sheep milk, cabbages, oranges, eggs, goat milk, figs (2023)
note: top ten agricultural products based on tonnage
Exports - commodities
electricity, aluminum, copper ore, aluminum ore, packaged medicine (2023)
note: top five export commodities based on value in dollars
Imports - commodities
refined petroleum, cars, electricity, packaged medicine, aluminum (2023)
note: top five import commodities based on value in dollars
Current account balance
note
note: balance of payments - net trade and primary/secondary income in current dollars
Current account balance 2022
-$817.858 million (2022 est.)
Current account balance 2023
-$851.525 million (2023 est.)
Current account balance 2024
-$1.406 billion (2024 est.)
GDP (official exchange rate)
$8.07 billion (2024 est.)
note: data in current dollars at official exchange rate
GDP - composition, by end use
note
note: figures may not total 100% due to rounding or gaps in data collection
household consumption
76.3% (2024 est.)
government consumption
17.9% (2024 est.)
investment in inventories
8.3% (2024 est.)
investment in fixed capital
20.2% (2024 est.)
exports of goods and services
44.9% (2024 est.)
imports of goods and services
-67.5% (2024 est.)
Population below poverty line
20.3% (2021 est.)
note: % of population with income below national poverty line
Average household expenditures
on food
24.8% of household expenditures (2022 est.)
on alcohol and tobacco
5.6% of household expenditures (2022 est.)
Inflation rate (consumer prices)
note
note: annual % change based on consumer prices
Inflation rate (consumer prices) 2022
13% (2022 est.)
Inflation rate (consumer prices) 2023
8.6% (2023 est.)
Inflation rate (consumer prices) 2024
3.3% (2024 est.)
Industrial production growth rate
-1.7% (2024 est.)
note: annual % change in industrial value added based on constant local currency
Real GDP (purchasing power parity)
note
note: data in 2021 dollars
Real GDP (purchasing power parity) 2022
$15.857 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$16.862 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$17.375 billion (2024 est.)
Youth unemployment rate (ages 15-24)
male
27.5% (2024 est.)
note
note: % of labor force ages 15-24 seeking employment
total
25.9% (2024 est.)
female
23.6% (2024 est.)
Reserves of foreign exchange and gold
note
note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022
$2.041 billion (2022 est.)
Reserves of foreign exchange and gold 2023
$1.574 billion (2023 est.)
Reserves of foreign exchange and gold 2024
$1.741 billion (2024 est.)
GDP - composition, by sector of origin
note
note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
industry
11.6% (2024 est.)
services
62.1% (2024 est.)
agriculture
5.2% (2024 est.)
Household income or consumption by percentage share
note
note: % share of income accruing to lowest and highest 10% of population
lowest 10%
2.1% (2021 est.)
highest 10%
24.7% (2021 est.)
Gini Index coefficient - distribution of family income
note
note: index (0-100) of income distribution; higher values represent greater inequality
Gini Index coefficient - distribution of family income 2021
34.3 (2021 est.)