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Economy of Curacao vs Montenegro compared: GDP & Debt

Updated on by Georank

Curacao has a GDP of $3.56B compared to $9.23B for Montenegro, ranking 168/197 and 155/197 by economy size, respectively.

Curacao vs Montenegro GDP by year

Curacao
Montenegro
1x
Year GDP, current $
Curacao Montenegro
2025 - $9,232,801,465
2024 $3,561,178,212 $8,274,290,506
2023 $3,281,419,330 $7,643,318,276
2022 $3,075,180,838 $6,259,721,790
2021 $2,739,594,358 $5,822,908,964
2020 $2,534,327,598 $4,734,192,593
2019 $3,026,124,134 $5,483,622,632
2018 $3,046,364,804 $5,433,469,311
2017 $3,033,433,240 $4,803,964,684
2016 $3,024,690,168 $4,357,467,226
2015 $3,058,779,218 $4,010,884,107
2014 $3,059,406,983 $4,579,635,404
2013 $3,033,568,603 $4,422,097,042
2012 $3,012,836,257 $4,071,828,832
2011 $2,930,092,235 $4,507,127,585
2010 $2,951,342,793 $4,136,936,244
2009 $2,869,153,184 $4,159,063,347
2008 $2,833,476,145 $4,559,410,049
2007 $2,593,831,508 $3,682,586,459
2006 $2,457,581,732 $2,719,979,875
2005 $2,344,637,263 $2,258,016,380
2004 $2,237,160,503 $2,077,046,942
2003 $2,202,117,374 $1,708,196,981
2002 $2,160,784,693 $1,286,314,054
2001 $2,143,450,726 $1,159,869,246
2000 $2,120,511,229 $984,293,044
1999 - $828,950,327
1998 - $854,261,161
1997 - $838,288,806

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

GDP per capita in Curacao vs Montenegro by year

Curacao
GDP per capita

GDP per capita, PPP
Montenegro
GDP per capita

GDP per capita, PPP
1x
Year Current $
Curacao Montenegro
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 - - $14,817 -
2024 $22,833 $32,693 $13,270 $34,063
2023 $21,218 $30,652 $12,258 $31,863
2022 $20,057 $28,641 $10,038 $28,050
2021 $17,796 $24,906 $9,316 $23,690
2020 $16,300 $21,722 $7,555 $20,625
2019 $19,221 $25,397 $8,749 $23,706
2018 $19,119 $24,623 $8,674 $21,084
2017 $18,938 $24,322 $7,674 $19,357
2016 $18,944 $23,650 $6,968 $18,030
2015 $19,362 $24,038 $6,421 $16,092
2014 $19,623 $24,348 $7,342 $15,276
2013 $19,721 $24,822 $7,103 $14,692
2012 $19,810 $25,106 $6,552 $13,793
2011 $19,426 $26,251 $7,266 $14,347
2010 $19,847 $25,957 $6,679 $13,612
2009 $19,540 $25,950 $6,727 $12,976
2008 $19,423 $26,098 $7,390 $13,802
2007 $18,006 $25,374 $5,979 $12,452
2006 $17,400 $24,590 $4,423 $10,440
2005 $17,032 $24,081 $3,676 $8,314
2004 $16,671 $23,791 $3,386 $7,841
2003 $16,696 $23,522 $2,790 $7,340
2002 $16,724 $23,480 $2,109 $7,100
2001 $16,610 $23,057 $1,910 $6,772
2000 $15,841 $21,891 $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 (1997–2025, retrieved 2026-07-08).

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

Curacao's GDP per capita is $22,833, ranking 56/197, compared to $14,817 in Montenegro, ranking 71/197. Adjusted for purchasing power (GDP per capita PPP), Curacao ranks 70th at $32,693, while Montenegro ranks 65th at $34,063.

Economic indicators

Curacao Montenegro
Gross domestic product
$3.56B
2024
$9.23B
2025
GDP rank
168/197
2024
155/197
2025
GDP growth
5.03%
2023-2024
2.74%
2024-2025
GDP per capita
$22,833
2024
$14,817
2025
GDP per capita rank
56/197
2024
71/197
2025
GDP per capita, PPP
$32,693
2024
$34,063
2024
GDP per capita PPP rank
70/197
2024
65/197
2024
Government debt n/a
$6.19B
2025
Debt-to-GDP ratio n/a
67.1%
2025
Government debt per person n/a
$9,942
2025
Government debt per person rank n/a
61/185
2025
Average annual personal income after taxes
$15,072
2026
$12,768
2026
Market capitalization of domestic companies n/a
$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
31%
2026
43.9%
2025
Consumer prices inflation
2.62%
2018-2019
3.9%
2024-2025
Central bank interest rate
4.5%
2025
n/a
Unemployment rate
19.1%
2020
11.5%
2024
Population
156236
613759

Inflation comparison by year

Inflation
Curacao

Montenegro
1x
Year Consumer prices inflation
Curacao Montenegro
2025 - 3.9%
2024 - 3.3%
2023 - 8.6%
2022 - 13%
2021 - 2.4%
2020 - -0.3%
2019 2.62% 0.4%
2018 2.58% 2.6%
2017 1.59% 2.4%
2016 -0.05% -0.3%
2015 -0.48% 1.5%
2014 1.5% -0.7%
2013 1.33% 2.2%
2012 3.18% 4.1%
2011 2.33% 3.5%
2010 2.78% 0.4%
2009 1.75% 3.6%
2008 6.88% 9%
2007 3% 3.4%
2006 3.11% 2.1%
2005 4.12% 3.4%
2004 1.38% 3.1%
2003 1.63% 7.5%
2002 0.39% 19.7%
2001 1.79% 23.7%
2000 - 29.9%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (2000–2025, retrieved 2026-07-08); World Bank | Economy & Growth (2001–2019, retrieved 2026-07-08).

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

Over the past 19 years, Curacao has recorded an average annual inflation rate of 2.18%, compared with 4.82% in Montenegro. In 2019, inflation was 2.62% in Curacao and 3.9% in Montenegro.

Balance of trade

Curacao Montenegro
Current account balance
-$655M
2023
-$1.88B
2025
Current account balance ranking
106/190
2023
140/190
2025
Current account balance, % of GDP
-20%
2023
-20.4%
2025
Goods imports
$1.83B
2023
$4.91B
2025
Goods exports
$560M
2023
$663M
2025
Service imports
$935M
2023
$1.24B
2025
Service exports
$1.55B
2023
$3.07B
2025
Imports of goods and services, % of GDP
92%
2018
65.7%
2025
Exports of goods and services, % of GDP
63.2%
2018
40.1%
2025

Economic freedom indices

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

Curacao Montenegro
Economic freedom 78 63.8
Economic freedom ranking 12/197 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

Curacao Montenegro
Services, % of GDP
72.3%
2024
63.4%
2025
Industry, % of GDP
12.2%
2024
11.3%
2025
Agriculture, forestry, and fishing, % of GDP
0.28%
2024
3.37%
2025
GNI, Atlas method
$3.52B
2024
$8.82B
2025
GNI per capita, PPP
$33,330
2024
$35,700
2025
Total reserves including gold n/a
$2.2B
2025
Total reserves ranking n/a
126/177
2025
Net foreign direct investment
-$129M
2023
-$601M
2025
Net inflows of foreign direct investment
$155M
2024
$599M
2024
Net outflows of foreign direct investment
$8.09M
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
41.1%
2018
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/curacao/montenegro | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1985–2026, retrieved 2026-07-08)
  2. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | World Economic Outlook (2000–2025, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-07-08)
  5. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  6. LivingCost (2026, 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.