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Economy of Bolivia vs Montenegro compared: GDP & Debt

Updated on by Georank

Bolivia has a GDP of $64.8B compared to $9.23B for Montenegro, ranking 88/197 and 155/197 by economy size, respectively.

Bolivia has $54.9B in government debt (84.8% of GDP), compared to $6.19B (67.1% of GDP) in Montenegro.

Bolivia vs Montenegro GDP by year

Bolivia
Montenegro
1x
Year GDP, current $
Bolivia Montenegro
2025 $64,768,947,525 $9,232,801,465
2024 $54,881,327,453 $8,274,290,506
2023 $52,340,206,946 $7,643,318,276
2022 $50,959,081,954 $6,259,721,790
2021 $47,877,892,402 $5,822,908,964
2020 $42,313,784,081 $4,734,192,593
2019 $49,056,643,589 $5,483,622,632
2018 $48,414,038,842 $5,433,469,311
2017 $45,927,439,595 $4,803,964,684
2016 $33,941,126,194 $4,357,467,226
2015 $33,000,198,249 $4,010,884,107
2014 $32,996,188,017 $4,579,635,404
2013 $30,659,338,886 $4,422,097,042
2012 $27,084,497,482 $4,071,828,832
2011 $23,963,164,697 $4,507,127,585
2010 $19,649,723,722 $4,136,936,244
2009 $17,339,992,194 $4,159,063,347
2008 $16,674,276,286 $4,559,410,049
2007 $13,120,108,008 $3,682,586,459
2006 $11,451,844,902 $2,719,979,875
2005 $9,549,122,905 $2,258,016,380
2004 $8,773,451,752 $2,077,046,942
2003 $8,082,399,640 $1,708,196,981
2002 $7,905,485,146 $1,286,314,054
2001 $8,141,516,928 $1,159,869,246
2000 $8,397,855,485 $984,293,044
1999 $8,285,064,435 $828,950,327
1998 $8,497,494,652 $854,261,161
1997 $7,925,736,821 $838,288,806
1996 $7,396,949,126 -
1995 $6,715,161,732 -
1994 $5,981,222,859 -
1993 $5,734,699,489 -
1992 $5,643,868,749 -
1991 $5,343,262,457 -
1990 $4,867,582,598 -
1989 $4,715,973,437 -
1988 $4,597,612,362 -
1987 $4,347,956,338 -
1986 $3,959,382,833 -
1985 $5,377,276,555 -
1984 $6,169,483,225 -
1983 $5,422,656,823 -
1982 $5,594,126,369 -
1981 $5,891,598,695 -
1980 $4,537,479,608 -
1979 $4,421,336,383 -
1978 $3,758,220,890 -
1977 $3,227,436,282 -
1976 $2,731,984,008 -
1975 $2,404,697,651 -
1974 $2,100,249,875 -
1973 $1,262,968,516 -
1972 $1,257,615,645 -
1971 $1,095,622,896 -
1970 $1,017,003,367 -
1969 $929,629,630 -
1968 $857,912,458 -
1967 $755,808,081 -
1966 $669,191,919 -
1965 $604,377,104 -
1964 $544,023,569 -
1963 $482,828,283 -
1962 $448,400,673 -
1961 $410,101,010 -
1960 $377,020,202 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/bolivia/montenegro | CC BY

GDP per capita in Bolivia vs Montenegro by year

Bolivia
GDP per capita

GDP per capita, PPP
Montenegro
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bolivia Montenegro
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $5,148 - $14,817 -
2024 $4,421 $12,878 $13,270 $34,063
2023 $4,275 $12,892 $12,258 $31,863
2022 $4,219 $12,307 $10,038 $28,050
2021 $4,011 $11,202 $9,316 $23,690
2020 $3,581 $9,581 $7,555 $20,625
2019 $4,203 $11,005 $8,749 $23,706
2018 $4,207 $10,758 $8,674 $21,084
2017 $4,048 $10,420 $7,674 $19,357
2016 $3,036 $9,242 $6,968 $18,030
2015 $2,996 $8,757 $6,421 $16,092
2014 $3,041 $8,629 $7,342 $15,276
2013 $2,870 $8,069 $7,103 $14,692
2012 $2,576 $7,184 $6,552 $13,793
2011 $2,316 $6,598 $7,266 $14,347
2010 $1,930 $6,245 $6,679 $13,612
2009 $1,731 $6,024 $6,727 $12,976
2008 $1,693 $5,890 $7,390 $13,802
2007 $1,355 $5,537 $5,979 $12,452
2006 $1,203 $5,244 $4,423 $10,440
2005 $1,020 $4,938 $3,676 $8,314
2004 $953 $4,663 $3,386 $7,841
2003 $893 $4,433 $2,790 $7,340
2002 $888 $4,304 $2,109 $7,100
2001 $930 $4,205 $1,910 $6,772
2000 $976 $4,113 $1,627 $6,004
1999 $979 $3,991 $1,368 $5,684
1998 $1,022 $3,988 $1,406 $6,170
1997 $970 $3,822 $1,375 $5,798
1996 $922 $3,645 - -
1995 $853 $3,494 - -
1994 $774 $3,331 - -
1993 $757 $3,177 - -
1992 $760 $3,036 - -
1991 $734 $2,981 - -
1990 $683 $2,797 - -
1989 $675 - - -
1988 $673 - - -
1987 $650 - - -
1986 $604 - - -
1985 $838 - - -
1984 $982 - - -
1983 $882 - - -
1982 $930 - - -
1981 $1,001 - - -
1980 $788 - - -
1979 $785 - - -
1978 $683 - - -
1977 $600 - - -
1976 $520 - - -
1975 $468 - - -
1974 $418 - - -
1973 $257.2 - - -
1972 $261.9 - - -
1971 $233.4 - - -
1970 $221.6 - - -
1969 $207.1 - - -
1968 $195.5 - - -
1967 $176.1 - - -
1966 $159.3 - - -
1965 $147.1 - - -
1964 $135.2 - - -
1963 $122.6 - - -
1962 $116.2 - - -
1961 $108.5 - - -
1960 $101.8 - - -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/bolivia/montenegro | CC BY

Bolivia's GDP per capita is $5,148, ranking 121/197, compared to $14,817 in Montenegro, ranking 71/197. Adjusted for purchasing power (GDP per capita PPP), Bolivia ranks 122nd at $12,878, while Montenegro ranks 65th at $34,063.

Economic indicators

Bolivia Montenegro
Gross domestic product
$64.8B
2025
$9.23B
2025
GDP rank
88/197
2025
155/197
2025
GDP growth
-1.58%
2024-2025
2.74%
2024-2025
GDP per capita
$5,148
2025
$14,817
2025
GDP per capita rank
121/197
2025
71/197
2025
GDP per capita, PPP
$12,878
2024
$34,063
2024
GDP per capita PPP rank
122/197
2024
65/197
2024
Government debt
$54.9B
2025
$6.19B
2025
Debt-to-GDP ratio
84.8%
2025
67.1%
2025
Government debt per person
$4,364
2025
$9,942
2025
Government debt per person rank
93/185
2025
61/185
2025
Average annual personal income after taxes
$4,410
2026
$12,768
2026
Market capitalization of domestic companies n/a
$3.79B
2012
Income share by richest 10%
30.6%
2024
24.7%
2021
Income share by poorest 10%
1.9%
2024
2.1%
2021
Government expenditure, % of GDP
32.2%
2025
43.9%
2025
Consumer prices inflation
19.5%
2024-2025
3.9%
2024-2025
Central bank interest rate
3.26%
2025
n/a
Unemployment rate
2.73%
2024
11.5%
2024
Population
12837312
613759

Spending and national debt comparison by year

Bolivia
Spending

Debt
Montenegro
Spending

Debt
1x
Year % of GDP
Bolivia Montenegro
Government spending Government debt Government spending Government debt
2025 32.2% 84.8% 43.9% 67.1%
2024 33.5% 83.2% 44.1% 60.8%
2023 33.5% 78.3% 40.4% 59.6%
2022 31.2% 69.2% 42.2% 70.3%
2021 29.4% 68.7% 45.1% 86.2%
2020 31.9% 67.5% 54.9% 108.4%
2019 30.1% 48.9% 44.4% 79.6%
2018 31.4% 44.2% 47.8% 72.9%
2017 31.6% 41.9% 47.6% 66.9%
2016 32.9% 38.2% 47.7% 66.7%
2015 37% 34% 46.9% 69.5%
2014 34.9% 31.8% 44.3% 63.6%
2013 30.4% 31% 46.3% 59.2%
2012 31.3% 30.7% 45.9% 57.1%
2011 30.6% 30.5% 45.7% 49%
2010 27.5% 32.8% 46.7% 45.1%
2009 28.9% 34.1% 51.5% 43.9%
2008 31.1% 32.4% 51.2% 34.2%
2007 28.9% 35.5% 43.9% 31.8%
2006 26.6% 48.6% 42.6% 36.7%
2005 29.5% 73.2% 38.2% 38.6%
2004 29% 80.6% 40% 45.4%
2003 28.6% 85.5% 43.3% 48.6%
2002 29.6% 77.2% 37.5% 85.7%
2001 28.6% 74.4% - -
2000 26.2% 66.5% - -
1999 26.3% 61.7% - -
1998 26.8% 61.2% - -
1997 25.3% 64.6% - -
1996 23.3% 72.4% - -
1995 23.1% 81.7% - -
1994 23.9% 87.6% - -
1993 24.3% 83.8% - -
1992 22.6% 92.4% - -
1991 21.6% 92.8% - -
1990 20.4% 102.9% - -
1989 24.4% 98% - -
1988 24% 115.9% - -
1987 24.4% 145.3% - -
1986 22.2% 149% - -
1985 21.8% 205.2% - -
1984 29% 166.5% - -
1983 32.1% 157.3% - -
1982 25% 155.4% - -
1981 16.6% 121.7% - -
1980 19.8% 100% - -
1979 18% 92% - -
1978 17.3% 82.5% - -
1977 18.6% 82.4% - -
1976 16.8% 68.9% - -
1975 14.4% 56.2% - -
1974 14.2% 52.7% - -
1973 14.1% 80.9% - -
1972 11.8% 77.7% - -
1971 11.3% 65.7% - -
1970 10% 63.9% - -
1969 12.3% - - -
1968 14.1% - - -
1967 13.1% - - -
1966 12.9% - - -
1965 12.9% - - -
1964 10.8% - - -
1963 10.8% - - -
1962 10.2% - - -
1961 10.7% - - -
1960 10.1% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

GeoRank.org/economy/bolivia/montenegro | CC BY

In 2025, Bolivia's government spending was $20.8B, accounting for 32.2% of its GDP, while Montenegro spent $4.05B, or 43.9% of GDP.

Debt-to-GDP ratio is 84.8% in Bolivia and 67.1% in Montenegro, ranking 36/185 and 63/185, respectively.

Government deficit by year

Deficit/surplus
Bolivia

Montenegro
1x
Year Deficit/surplus, % of GDP
Bolivia Montenegro
2025 -11.6% -3.61%
2024 -8.7% -3.44%
2023 -9.46% 0.38%
2022 -6.15% -4.05%
2021 -7.87% -1.37%
2020 -11% -10.9%
2019 -6.04% -1.74%
2018 -6.8% -6.3%
2017 -6.42% -6.89%
2016 -5.95% -6.21%
2015 -5.76% -6.03%
2014 -2.88% -0.7%
2013 0.51% -4.54%
2012 1.49% -5.87%
2011 0.72% -6.79%
2010 1.42% -4.88%
2009 2.29% -6.74%
2008 3.1% -2.3%
2007 -1.37% 8.44%
2006 3.99% 4.34%
2005 -2% -1.42%
2004 -4.97% -2.45%
2003 -7.04% -4.06%
2002 -7.82% -1.44%
2001 -6.11% -
2000 -3.34% -
1999 -3.43% -
1998 -4.56% -
1997 -2.94% -
1996 -1.7% -
1995 -1.63% -
1994 -2.68% -
1993 -5.46% -
1992 -3.94% -
1991 -3.76% -
1990 -3.94% -
1989 -5.5% -
1988 -6.5% -
1987 -7.7% -
1986 -2.7% -
1985 -9.8% -
1984 -25.4% -
1983 -19.8% -
1982 -15.9% -
1981 -12.3% -
1980 -15.3% -
1979 -11.2% -
1978 -9.97% -
1977 -11.2% -
1976 -1.15% -
1975 -2.33% -
1974 -1.87% -
1973 -3.72% -
1972 -3.69% -
1971 -3.67% -
1970 -1.92% -
1969 -4.16% -
1968 -5.67% -
1967 -4.29% -
1966 -3.55% -
1965 -4.12% -
1964 -2.68% -
1963 -3.02% -
1962 -2.8% -
1961 -2.81% -
1960 -3.35% -
1959 -4.32% -
1958 -2.95% -
1957 -1.11% -
1956 -0.11% -
1955 0.33% -
1954 0.006% -
1953 -0.48% -
1952 -0.94% -
1951 -0.42% -
1950 -1.17% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1989, retrieved 2026-07-08).

GeoRank.org/economy/bolivia/montenegro | CC BY

In 2025, Bolivia's government deficit, the difference between spending and revenue, was $7.51B, equivalent to 11.6% of GDP. This compares to Montenegro's deficit of $334M, or 3.61% of GDP.

Over the past 24 years, Bolivia recorded a fiscal deficit in 17 of those years, while Montenegro ran a deficit in 21 years. On average, Bolivia posted an annual deficit equal to 4.1% of GDP, compared to deficit of 3.27% of GDP for Montenegro.

Inflation comparison by year

Inflation
Bolivia

Montenegro
1x
Year Consumer prices inflation
Bolivia Montenegro
2025 19.5% 3.9%
2024 5.1% 3.3%
2023 2.58% 8.6%
2022 1.75% 13%
2021 0.74% 2.4%
2020 0.94% -0.3%
2019 1.84% 0.4%
2018 2.27% 2.6%
2017 2.82% 2.4%
2016 3.62% -0.3%
2015 4.06% 1.5%
2014 5.77% -0.7%
2013 5.74% 2.2%
2012 4.52% 4.1%
2011 9.88% 3.5%
2010 2.5% 0.4%
2009 3.35% 3.6%
2008 14% 9%
2007 8.71% 3.4%
2006 4.28% 2.1%
2005 5.39% 3.4%
2004 4.44% 3.1%
2003 3.34% 7.5%
2002 0.93% 19.7%
2001 1.59% 23.7%
2000 4.61% 29.9%
1999 2.16% -
1998 7.67% -
1997 4.71% -

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | World Economic Outlook (2000–2025, retrieved 2026-07-08).

GeoRank.org/economy/bolivia/montenegro | CC BY

Over the past 26 years, Bolivia has recorded an average annual inflation rate of 4.78%, compared with 5.86% in Montenegro. In 2025, inflation was 19.5% in Bolivia and 3.9% in Montenegro.

Top exports between countries

Bolivia
Export category Export value
Raw agricultural goods $42K
Montenegro
Export category Export value

Balance of trade

Bolivia Montenegro
Current account balance
-$1.22B
2025
-$1.88B
2025
Current account balance ranking
124/190
2025
140/190
2025
Current account balance, % of GDP
-1.88%
2025
-20.4%
2025
Goods imports
$9.23B
2025
$4.91B
2025
Goods exports
$9.56B
2025
$663M
2025
Service imports
$2.25B
2025
$1.24B
2025
Service exports
$1.21B
2025
$3.07B
2025
Imports of goods and services, % of GDP
25.5%
2024
65.7%
2025
Exports of goods and services, % of GDP
21.4%
2024
40.1%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Bolivia Montenegro
Economic freedom 42.4 63.8
Economic freedom ranking 184/197 78/197
Property rights 20.2 60.9
Government integrity 27.1 49.9
Judicial effectiveness 29.5 51.5
Tax burden 86.4 88.7
Government spending 56.3 47.6
Fiscal health 0.8 86.2
Business freedom 53.6 68.4
Labor freedom 52.2 59.4
Monetary freedom 67.1 75.2
Trade freedom 60.6 78.4
Investment freedom 15 50
Financial freedom 40 50

Economic freedom comparison by year

Bolivia
Montenegro
1x
Year Economic freedom index
Bolivia Montenegro
2026 42.4 63.8
2025 44.1 63.8
2024 43.5 59.7
2023 43.4 60.9
2022 43 57.8
2021 42.7 63.4
2020 42.8 61.5
2019 42.3 60.5
2018 44.1 64.3
2017 47.7 62
2016 47.4 64.9
2015 46.8 64.7
2014 48.4 63.6
2013 47.9 62.6
2012 50.2 62.5
2011 50 62.5
2010 49.4 63.6
2009 53.6 58.2
2008 53.1 -
2007 54.2 -
2006 57.8 -
2005 58.4 -
2004 64.5 -
2003 64.3 43.5
2002 65.1 46.6
2001 68 -
2000 65 -
1999 65.6 -
1998 68.8 -
1997 65.1 -
1996 65.2 -
1995 56.8 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/bolivia/montenegro | CC BY

The Economic Freedom Index for Bolivia is 42.4, ranking 184/197, compared to 63.8 for Montenegro, ranking 78/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bolivia Montenegro
Services, % of GDP
53.4%
2024
63.4%
2025
Industry, % of GDP
31.3%
2024
11.3%
2025
Agriculture, forestry, and fishing, % of GDP
8.83%
2024
3.37%
2025
GNI, Atlas method
$55.6B
2025
$8.82B
2025
GNI per capita, PPP
$12,530
2025
$35,700
2025
Total reserves including gold
$580M
2025
$2.2B
2025
Total reserves ranking
155/177
2025
126/177
2025
Net foreign direct investment
-$464M
2025
-$601M
2025
Net inflows of foreign direct investment
$358M
2024
$599M
2024
Net outflows of foreign direct investment
$133M
2024
$67.8M
2024
Servicing debt to the IMF, % of GNI
3.41%
2024
15%
2024
Poverty at national poverty lines
37.7%
2024
20%
2023
Gross capital formation, % of GDP
17.9%
2024
26.9%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/bolivia/montenegro | CC BY

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. TradeMap (2020, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.