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Economy of Cayman Islands vs Montenegro compared: GDP & Debt

Updated on by Georank team

The Cayman Islands has a GDP of $7.24B compared to $8.27B for Montenegro, ranking 158/197 and 155/197 by economy size, respectively.

Cayman Islands vs Montenegro GDP by year

Cayman Islands
Montenegro
1x
Year GDP, current $
Cayman Islands Montenegro
2024 - $8,270,016,671
2023 $7,241,244,269 $7,644,389,160
2022 $6,660,161,212 $6,251,215,144
2021 $6,060,813,808 $5,823,715,810
2020 $5,655,357,984 $4,723,571,498
2019 $5,941,896,600 $5,483,476,883
2018 $5,530,178,499 $5,433,467,175
2017 $5,166,281,293 $4,803,962,016
2016 $4,909,322,200 $4,357,469,330
2015 $4,708,167,255 $4,010,885,991
2014 $4,562,853,582 $4,579,636,602
2013 $4,405,796,081 $4,422,097,763
2012 $4,291,004,486 $4,071,829,462
2011 $4,186,073,160 $4,507,126,949
2010 $4,156,841,164 $4,136,936,189
2009 $4,281,714,618 $4,142,640,317
2008 $4,585,948,969 $4,540,861,726
2007 $4,466,278,031 $3,677,910,895
2006 $4,200,288,282 $2,717,702,923
2005 - $2,257,174,481
2004 - $2,073,234,418
2003 - $1,707,710,053
2002 - $1,284,685,051
2001 - $1,159,869,246
2000 - $984,293,044
1999 - $828,950,327
1998 - $854,261,161
1997 - $838,288,806

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/cayman-islands/montenegro | CC BY

GDP per capita in Cayman Islands vs Montenegro by year

Cayman Islands
GDP per capita

GDP per capita, PPP
Montenegro
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cayman Islands Montenegro
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $13,263 $34,063
2023 $99,144 $88,428 $12,260 $31,863
2022 $93,031 $82,296 $10,025 $28,050
2021 $86,450 $74,160 $9,317 $23,690
2020 $82,339 $66,119 $7,539 $20,625
2019 $88,254 $72,697 $8,749 $23,706
2018 $83,866 $71,812 $8,674 $21,084
2017 $80,054 $68,018 $7,674 $19,357
2016 $77,802 $65,680 $6,968 $18,030
2015 $76,379 $64,009 $6,421 $16,092
2014 $75,845 $63,561 $7,342 $15,276
2013 $75,114 $63,648 $7,103 $14,692
2012 $75,102 $64,727 $6,552 $13,793
2011 $75,281 $66,629 $7,266 $14,347
2010 $76,838 $66,325 $6,679 $13,612
2009 $81,374 $69,254 $6,700 $12,976
2008 $89,655 $76,297 $7,360 $13,802
2007 $89,888 $77,337 $5,972 $12,452
2006 $87,085 $75,191 $4,419 $10,440
2005 - - $3,675 $8,314
2004 - - $3,380 $7,841
2003 - - $2,789 $7,340
2002 - - $2,107 $7,100
2001 - - $1,910 $6,772
2000 - - $1,627 $6,004
1999 - - $1,368 $5,684
1998 - - $1,406 $6,170
1997 - - $1,375 $5,798

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/cayman-islands/montenegro | CC BY

The Cayman Islands' GDP per capita is $99,144, ranking 6/197, compared to $13,263 in Montenegro, ranking 77/197. Adjusted for purchasing power (GDP per capita PPP), the Cayman Islands ranks 10th at $88,428, while Montenegro ranks 65th at $34,063.

Economic indicators

Cayman Islands Montenegro
Gross domestic product
$7.24B
2023
$8.27B
2024
GDP rank
158/197
2023
155/197
2024
GDP growth
5.82%
2022-2023
3.16%
2023-2024
GDP per capita
$99,144
2023
$13,263
2024
GDP per capita rank
6/197
2023
77/197
2024
GDP per capita, PPP
$88,428
2023
$34,063
2024
GDP per capita PPP rank
10/197
2023
65/197
2024
Government debt n/a
$5.02B
2024
Debt-to-GDP ratio n/a
60.8%
2024
Government debt per person n/a
$8,058
2024
Government debt per person rank n/a
64/185
2024
Average annual personal income after taxes
$93,253
2026
$11,119
2026
Market capitalization of domestic companies
$644M
2020
$3.79B
2012
Income share by richest 10% n/a
24.7%
2021
Income share by poorest 10% n/a
2.1%
2021
Government expenditure, % of GDP
14%
2025
43.5%
2024
Consumer prices inflation
-0.63%
2015-2016
3.3%
2023-2024
Unemployment rate
4.24%
2015
13.1%
2023
Population
77619
612312

Inflation comparison by year

Inflation
Cayman Islands

Montenegro
1x
Year Consumer prices inflation
Cayman Islands Montenegro
2024 - 3.3%
2023 - 8.6%
2022 - 13%
2021 - 2.4%
2020 - -0.3%
2019 - 0.4%
2018 - 2.6%
2017 - 2.4%
2016 -0.63% -0.3%
2015 -2.35% 1.5%
2014 1.27% -0.7%
2013 2.16% 2.2%
2012 1.19% 4.1%
2011 1.33% 3.5%
2010 0.28% 0.4%
2009 - 3.6%
2008 - 9%
2007 - 3.4%
2006 - 2.1%
2005 - 3.4%
2004 - 3.1%
2003 - 7.5%
2002 - 19.7%
2001 - 23.7%
2000 - 29.9%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (2000–2024, retrieved 2026-02-20); World Bank | Economy & Growth (2010–2016, retrieved 2026-04-06).

GeoRank.org/economy/cayman-islands/montenegro | CC BY

Over the past 7 years, the Cayman Islands has recorded an average annual inflation rate of 0.46%, compared with 1.53% in Montenegro. In 2016, inflation was -0.63% in the Cayman Islands and 3.3% in Montenegro.

Top exports between countries

Cayman Islands
Export category Export value
Montenegro
Export category Export value
Machinery & equipment $1.66M
Processed food, beverages & tobacco $1K

Balance of trade

Cayman Islands Montenegro
Current account balance
-$713M
2023
-$1.4B
2024
Current account balance ranking
116/190
2023
131/190
2024
Current account balance, % of GDP
-9.84%
2023
-17%
2024
Goods imports
$1.64B
2023
$4.29B
2024
Goods exports
$150M
2023
$714M
2024
Service imports
$1.8B
2023
$1.19B
2024
Service exports
$4.45B
2023
$2.92B
2024
Imports of goods and services, % of GDP
45.8%
2020
66.2%
2024
Exports of goods and services, % of GDP
59.6%
2020
43.7%
2024

Economic freedom indices

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

Cayman Islands Montenegro
Economic freedom 74 63.8
Economic freedom ranking 22/197 78/197
Property rights n/a 60.9
Government integrity n/a 49.9
Judicial effectiveness n/a 51.5
Tax burden n/a 88.7
Government spending n/a 47.6
Fiscal health n/a 86.2
Business freedom n/a 68.4
Labor freedom n/a 59.4
Monetary freedom n/a 75.2
Trade freedom n/a 78.4
Investment freedom n/a 50
Financial freedom n/a 50

Other economic metrics

Cayman Islands Montenegro
Services, % of GDP
86%
2023
63.8%
2024
Industry, % of GDP
7.84%
2023
12.2%
2024
Agriculture, forestry, and fishing, % of GDP
0.42%
2023
3.49%
2024
GNI, Atlas method
$5.53B
2023
$7.61B
2024
GNI per capita, PPP
$68,030
2023
$33,970
2024
Total reserves including gold
$234M
2023
$1.74B
2024
Total reserves ranking
169/177
2023
130/177
2024
Net foreign direct investment
-$5.52B
2023
-$532M
2024
Net inflows of foreign direct investment
$35.9B
2024
$599M
2024
Net outflows of foreign direct investment
$27.2B
2024
$67.8M
2024
Servicing debt to the IMF, % of GNI n/a
15%
2024
Poverty at national poverty lines n/a
20%
2023
Gross capital formation, % of GDP n/a
25.9%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/cayman-islands/montenegro | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1985–2025, retrieved 2026-04-06)
  2. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  3. International Monetary Fund (IMF) | World Economic Outlook (2000–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  5. TradeMap (2020–2022, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

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.