Indicators of economy in Montenegro
The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.912 US Dollar per capita. In contrast, the GDP in Montenegro reached 7.677 US dollars per inhabitant, or 4.77 bn US Dollar in the whole country. Montenegro is currently at number 161 among the international economies and is therefore one of the less significant. If this is calculated per inhabitant taking into account the purchasing power parity, then Montenegro is in the list of the world's richest countries in place 69.Inflation in Montenegro was in 2021 at around 2.41%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 48.3% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.
Back to overview: Montenegro
Impact of the Covid-19 pandemic in 2020
The consequences of the Covid pandemic in 2020 were considerable in Montenegro. Overall, gross domestic product in 2020 fell from 5.54 billion US Dollar auf 4.77 billion US Dollar. With a large drop of 13.94 percent, the economy in Montenegro has struggled significantly more than other countries. The tourism sector alone slumped by around 86 percent. The unemployment rate rose from 15.1 to 17.9 percent. The inflation rate has fallen from 0.4 percent previously to -0.3 percent by the end of 2020.Unemployment rates in percent 1991 - 2021
Economic performance 2020
Montenegro Total | Montenegro per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 4.77 bn USD | 7,677.15 USD | 15,291.93 tn USD | 29,710.69 USD |
Gross national product | 4.91 bn USD | 7,899.73 USD | 15,330.84 tn USD | 29,786.28 USD |
Development of gross domestic product in million US Dollar 2000 - 2020
› Debt budget development
› Development of inflation
› Corruption in Montenegro
› Cost of living in a global comparison
› Development of inflation
› Corruption in Montenegro
› Cost of living in a global comparison
Im- and Exports 2021
Montenegro Total | Montenegro per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 2.92 bn USD | 4,694.14 USD | 7,340.01 bn USD | 14,260.90 USD |
Exports | 1.25 bn USD | 2,007.74 USD | 7,939.04 bn USD | 15,424.75 USD |
Development of imports and exports in million US dollars 2007 - 2021
Exports
Imports