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Economy of Israel vs Montenegro compared: GDP & Debt

Updated on by Georank team

Israel has a GDP of $540B compared to $8.27B for Montenegro, ranking 29/197 and 155/197 by economy size, respectively.

Israel has $366B in government debt (67.6% of GDP), compared to $5.02B (60.8% of GDP) in Montenegro.

Israel vs Montenegro GDP by year

Israel
Montenegro
1x
Year GDP, current $
Israel Montenegro
2024 $540,379,921,262 $8,270,016,671
2023 $512,184,638,999 $7,644,389,160
2022 $525,181,008,026 $6,251,215,144
2021 $489,851,549,972 $5,823,715,810
2020 $410,768,352,658 $4,723,571,498
2019 $400,645,216,359 $5,483,476,883
2018 $376,299,083,108 $5,433,467,175
2017 $358,451,839,053 $4,803,962,016
2016 $321,940,971,558 $4,357,469,330
2015 $303,469,434,072 $4,010,885,991
2014 $315,017,088,117 $4,579,636,602
2013 $298,478,070,673 $4,422,097,763
2012 $263,589,172,712 $4,071,829,462
2011 $268,094,998,225 $4,507,126,949
2010 $239,679,036,634 $4,136,936,189
2009 $213,403,181,853 $4,142,640,317
2008 $221,231,658,863 $4,540,861,726
2007 $184,681,214,673 $3,677,910,895
2006 $158,900,547,825 $2,717,702,923
2005 $147,519,922,009 $2,257,174,481
2004 $140,047,984,605 $2,073,234,418
2003 $131,408,914,824 $1,707,710,053
2002 $125,332,331,884 $1,284,685,051
2001 $135,002,039,613 $1,159,869,246
2000 $136,512,300,542 $984,293,044
1999 $121,417,185,062 $828,950,327
1998 $120,547,409,279 $854,261,161
1997 $119,459,826,347 $838,288,806
1996 $115,116,595,545 -
1995 $105,497,418,059 -
1994 $90,740,103,829 -
1993 $79,855,877,174 -
1992 $79,457,685,757 -
1991 $70,998,755,007 -
1990 $62,016,729,541 -
1989 $52,443,479,454 -
1988 $52,650,948,910 -
1987 $43,049,543,635 -
1986 $35,834,154,874 -
1985 $28,905,736,367 -
1984 $30,645,607,293 -
1983 $32,675,755,462 -
1982 $29,255,285,401 -
1981 $26,882,009,819 -
1980 $25,395,256,478 -
1979 $22,609,741,060 -
1978 $17,701,286,907 -
1977 $18,257,113,904 -
1976 $15,956,349,550 -
1975 $16,141,767,373 -
1974 $17,172,607,138 -
1973 $11,902,574,259 -
1972 $9,222,557,539 -
1971 $7,052,544,000 -
1970 $7,406,712,876 -
1969 $6,297,852,761 -
1968 $5,458,427,928 -
1967 $4,762,386,783 -
1966 $4,703,300,098 -
1965 $4,329,084,429 -
1964 $4,024,344,853 -
1963 $3,535,949,089 -
1962 $2,966,154,031 -
1961 $3,708,586,471 -
1960 $3,070,585,807 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Israel vs Montenegro by year

Israel
GDP per capita

GDP per capita, PPP
Montenegro
GDP per capita

GDP per capita, PPP
1x
Year Current $
Israel Montenegro
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $54,177 $57,236 $13,263 $34,063
2023 $52,004 $55,171 $12,260 $31,863
2022 $54,950 $53,619 $10,025 $28,050
2021 $52,271 $46,162 $9,317 $23,690
2020 $44,576 $40,955 $7,539 $20,625
2019 $44,251 $41,325 $8,749 $23,706
2018 $42,363 $40,190 $8,674 $21,084
2017 $41,138 $39,471 $7,674 $19,357
2016 $37,672 $38,189 $6,968 $18,030
2015 $36,213 $35,871 $6,421 $16,092
2014 $38,343 $34,816 $7,342 $15,276
2013 $37,034 $34,827 $7,103 $14,692
2012 $33,321 $32,484 $6,552 $13,793
2011 $34,523 $31,314 $7,266 $14,347
2010 $31,439 $29,456 $6,679 $13,612
2009 $28,508 $28,087 $6,700 $12,976
2008 $30,269 $28,084 $7,360 $13,802
2007 $25,721 $28,307 $5,972 $12,452
2006 $22,527 $26,385 $4,419 $10,440
2005 $21,287 $25,701 $3,675 $8,314
2004 $20,568 $26,078 $3,380 $7,841
2003 $19,643 $24,702 $2,789 $7,340
2002 $19,076 $26,101 $2,107 $7,100
2001 $20,966 $25,806 $1,910 $6,772
2000 $21,707 $25,766 $1,627 $6,004
1999 $19,823 $23,415 $1,368 $5,684
1998 $20,189 $22,927 $1,406 $6,170
1997 $20,469 $22,279 $1,375 $5,798
1996 $20,224 $21,672 - -
1995 $19,026 $20,642 - -
1994 $16,807 $19,478 - -
1993 $15,179 $18,218 - -
1992 $15,510 $17,553 - -
1991 $14,346 $16,486 - -
1990 $13,308 $15,721 - -
1989 $11,608 - - -
1988 $11,853 - - -
1987 $9,853 - - -
1986 $8,335 - - -
1985 $6,829 - - -
1984 $7,369 - - -
1983 $7,960 - - -
1982 $7,258 - - -
1981 $6,795 - - -
1980 $6,549 - - -
1979 $5,972 - - -
1978 $4,797 - - -
1977 $5,053 - - -
1976 $4,516 - - -
1975 $4,672 - - -
1974 $5,085 - - -
1973 $3,631 - - -
1972 $2,930 - - -
1971 $2,298 - - -
1970 $2,490 - - -
1969 $2,189 - - -
1968 $1,947 - - -
1967 $1,735 - - -
1966 $1,789 - - -
1965 $1,689 - - -
1964 $1,626 - - -
1963 $1,486 - - -
1962 $1,294 - - -
1961 $1,697 - - -
1960 $1,452 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Israel's GDP per capita is $54,177, ranking 21/197, compared to $13,263 in Montenegro, ranking 77/197. Adjusted for purchasing power (GDP per capita PPP), Israel ranks 36th at $57,236, while Montenegro ranks 65th at $34,063.

Economic indicators

Israel Montenegro
Gross domestic product
$540B
2024
$8.27B
2024
GDP rank
29/197
2024
155/197
2024
GDP growth
0.87%
2023-2024
3.16%
2023-2024
GDP per capita
$54,177
2024
$13,263
2024
GDP per capita rank
21/197
2024
77/197
2024
GDP per capita, PPP
$57,236
2024
$34,063
2024
GDP per capita PPP rank
36/197
2024
65/197
2024
Government debt
$366B
2024
$5.02B
2024
Debt-to-GDP ratio
67.6%
2024
60.8%
2024
Government debt per person
$36,645
2024
$8,058
2024
Government debt per person rank
18/185
2024
64/185
2024
Average annual personal income after taxes
$43,003
2026
$11,119
2026
Market capitalization of domestic companies
$331B
2024
$3.79B
2012
Number of millionaires
179,905
2025
n/a
Number of billionaires
41
2025
n/a
Income share by richest 10%
26.6%
2021
24.7%
2021
Income share by poorest 10%
2%
2021
2.1%
2021
Government expenditure, % of GDP
43.8%
2024
43.5%
2024
Consumer prices inflation
3.07%
2023-2024
3.3%
2023-2024
Central bank interest rate
4.5%
2024
n/a
Unemployment rate
2.9%
2024
13.1%
2023
Population
10290887
612312

Spending and national debt comparison by year

Israel
Spending

Debt
Montenegro
Spending

Debt
1x
Year % of GDP
Israel Montenegro
Government spending Government debt Government spending Government debt
2024 43.8% 67.6% 43.5% 60.8%
2023 39.3% 61.3% 39.7% 59.6%
2022 36.9% 60.3% 42.2% 70.3%
2021 40% 67.7% 45.1% 86.2%
2020 44.8% 71.1% 54.9% 108.4%
2019 38.7% 59.3% 44.4% 79.6%
2018 39.2% 60.1% 47.8% 72.9%
2017 38.3% 59.8% 47.6% 66.9%
2016 37.9% 61.7% 47.7% 66.7%
2015 37.6% 62.8% 46.9% 69.5%
2014 38.3% 64.9% 44.3% 63.6%
2013 39.7% 66% 46.3% 59.2%
2012 39.6% 66.9% 45.9% 57.1%
2011 39.3% 67.2% 45.7% 49%
2010 39.7% 69% 46.7% 45.1%
2009 41.4% 72.6% 51.5% 43.9%
2008 41.2% 70.2% 51.2% 34.2%
2007 40.2% 70.8% 43.9% 31.8%
2006 41.6% 77.7% 42.6% 36.7%
2005 42.3% 85.2% 38.2% 38.6%
2004 43% 88.3% 40% 45.4%
2003 45.4% 89.7% 43.3% 48.6%
2002 50% 87.2% 37.5% 85.7%
2001 46.1% 81.1% - -
2000 43.4% 77.2% - -
1999 53.6% 94.8% - -
1998 55% 101% - -
1997 52.6% 99.3% - -
1996 53.2% 100.3% - -
1995 52.8% 102.3% - -
1994 41.7% 110.2% - -
1993 42.2% 118.3% - -
1992 44.1% 119.6% - -
1991 34.4% 123.7% - -
1990 46.8% 138.3% - -
1989 47.5% 147.4% - -
1988 46.5% 145.4% - -
1987 52.8% 143.2% - -
1986 55.7% 162.5% - -
1985 65.2% 199% - -
1984 - 284% - -
1983 - 260.5% - -
1982 69.7% - - -
1981 71.8% - - -
1980 69.4% 154.3% - -
1979 70.1% 155.5% - -
1978 62.2% 133.6% - -
1977 69.1% 142% - -
1976 66.3% 97.4% - -
1975 62% 85.1% - -
1974 - 79.8% - -
1973 - 62.1% - -
1972 - 63.9% - -
1971 - - - -
1970 41.6% - - -
1969 41.1% - - -
1968 39.4% - - -
1967 33.9% - - -
1966 29.6% - - -
1965 27.8% - - -
1964 28.2% - - -
1963 26.9% - - -
1962 27.7% - - -
1961 30.3% - - -
1960 30.4% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (2000–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

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

In 2024, Israel's government spending was $237B, accounting for 43.8% of its GDP, while Montenegro spent $3.6B, or 43.5% of GDP.

Debt-to-GDP ratio is 67.6% in Israel and 60.8% in Montenegro, ranking 62/185 and 76/185, respectively.

Government deficit by year

Deficit/surplus
Israel

Montenegro
1x
Year Deficit/surplus, % of GDP
Israel Montenegro
2024 -8.26% -2.81%
2023 -5.06% 0.85%
2022 0.32% -4.07%
2021 -3.37% -1.72%
2020 -10.7% -11%
2019 -3.79% -1.74%
2018 -3.56% -6.3%
2017 -1.13% -6.89%
2016 -1.79% -6.21%
2015 -1.21% -6.03%
2014 -2.29% -0.7%
2013 -4.06% -4.54%
2012 -4.46% -5.87%
2011 -3.43% -6.79%
2010 -3.72% -4.88%
2009 -6.53% -6.74%
2008 -3.5% -2.3%
2007 -0.43% 8.44%
2006 -0.95% 4.34%
2005 -2.74% -1.42%
2004 -3.4% -2.45%
2003 -5.03% -4.06%
2002 -8.22% -1.44%
2001 -4.06% -
2000 -0.8% -
1999 -6.26% -
1998 -7.99% -
1997 -4.84% -
1996 -5.97% -
1995 -4.28% -
1994 -5.62% -
1993 -5.62% -
1992 -8% -
1991 -7.04% -
1990 -9.67% -
1989 -9.03% -
1988 -7.57% -
1987 -7.47% -
1986 -7.51% -
1985 -14.2% -
1984 - -
1983 - -
1982 -13.8% -
1981 -23.5% -
1980 -19.6% -
1979 -16.7% -
1978 -14.7% -
1977 -20.3% -
1976 -19.4% -
1975 -19.6% -
1974 - -
1973 - -
1972 - -
1971 - -
1970 -16% -
1969 -15.3% -
1968 -11.7% -
1967 -7.68% -
1966 -4.35% -
1965 -2.72% -
1964 -3.65% -
1963 -4.41% -
1962 -4.09% -
1961 -5.86% -
1960 -6.62% -
1959 -7.23% -
1958 -8.31% -
1957 -7.17% -
1956 -9.3% -
1955 -4.3% -
1954 -7.84% -
1953 -8.32% -
1952 -7.19% -
1951 -8.13% -
1950 -10.7% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (2000–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-02-20).

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

In 2024, Israel's government deficit, the difference between spending and revenue, was $44.6B, equivalent to 8.26% of GDP. This compares to Montenegro's deficit of $232M, or 2.81% of GDP.

Over the past 23 years, Israel recorded a fiscal deficit in 22 of those years, while Montenegro ran a deficit in 20 years. On average, Israel posted an annual deficit equal to 3.8% of GDP, compared to deficit of 3.23% of GDP for Montenegro.

Inflation comparison by year

Inflation
Israel

Montenegro
1x
Year Consumer prices inflation
Israel Montenegro
2024 3.07% 3.3%
2023 4.23% 8.6%
2022 4.41% 13%
2021 1.48% 2.4%
2020 -0.58% -0.3%
2019 0.82% 0.4%
2018 0.81% 2.6%
2017 0.25% 2.4%
2016 -0.54% -0.3%
2015 -0.62% 1.5%
2014 0.47% -0.7%
2013 1.59% 2.2%
2012 1.68% 4.1%
2011 3.49% 3.5%
2010 2.7% 0.4%
2009 3.37% 3.6%
2008 4.53% 9%
2007 0.47% 3.4%
2006 2.05% 2.1%
2005 1.34% 3.4%
2004 -0.42% 3.1%
2003 0.71% 7.5%
2002 5.8% 19.7%
2001 1.12% 23.7%
2000 1.03% 29.9%
1999 5.19% -
1998 5.49% -
1997 8.95% -

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (2000–2024, retrieved 2026-02-20).

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

Over the past 25 years, Israel has recorded an average annual inflation rate of 1.73%, compared with 5.94% in Montenegro. In 2024, inflation was 3.07% in Israel and 3.3% in Montenegro.

Top exports between countries

Israel
Export category Export value
Machinery & equipment $1.07M
Chemicals & pharma $185K
Metals $86K
Precious metals & jewellery $48K
Textiles & consumer goods $27K
Wood & paper products $24K
Processed food, beverages & tobacco $18K
Raw agricultural goods $18K
Raw materials & minerals $16K
Montenegro
Export category Export value
Processed food, beverages & tobacco $7.47M
Machinery & equipment $172K
Textiles & consumer goods $69K
Raw materials & minerals $53K
Wood & paper products $29K
Precious metals & jewellery $26K
Weapons & explosives $24K
Raw agricultural goods $1K

Balance of trade

Israel Montenegro
Current account balance
$15.5B
2024
-$1.4B
2024
Current account balance ranking
21/190
2024
131/190
2024
Current account balance, % of GDP
+2.86%
2024
-17%
2024
Goods imports
$96.3B
2024
$4.29B
2024
Goods exports
$70B
2024
$714M
2024
Service imports
$44.4B
2024
$1.19B
2024
Service exports
$83.7B
2024
$2.92B
2024
Imports of goods and services, % of GDP
26%
2024
66.2%
2024
Exports of goods and services, % of GDP
28.4%
2024
43.7%
2024

Economic freedom indices

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

Israel Montenegro
Economic freedom 68.4 63.8
Economic freedom ranking 47/197 78/197
Property rights 73.1 60.9
Government integrity 66.2 49.9
Judicial effectiveness 68.1 51.5
Tax burden 60.2 88.7
Government spending 52 47.6
Fiscal health 60.8 86.2
Business freedom 72.4 68.4
Labor freedom 56.8 59.4
Monetary freedom 78.2 75.2
Trade freedom 82.8 78.4
Investment freedom 70 50
Financial freedom 80 50

Economic freedom comparison by year

Israel
Montenegro
1x
Year Economic freedom index
Israel Montenegro
2026 68.4 63.8
2025 69.9 63.8
2024 70.1 59.7
2023 68.9 60.9
2022 68 57.8
2021 73.8 63.4
2020 74 61.5
2019 72.8 60.5
2018 72.2 64.3
2017 69.7 62
2016 70.7 64.9
2015 70.5 64.7
2014 68.4 63.6
2013 66.9 62.6
2012 67.8 62.5
2011 68.5 62.5
2010 67.7 63.6
2009 67.6 58.2
2008 66.3 -
2007 64.8 -
2006 64.4 -
2005 62.6 -
2004 61.4 -
2003 62.7 43.5
2002 66.9 46.6
2001 66.1 -
2000 65.5 -
1999 68.3 -
1998 68 -
1997 62.7 -
1996 62 -
1995 61.5 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Israel is 68.4, ranking 47/197, 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

Israel Montenegro
Services, % of GDP
72.5%
2024
63.8%
2024
Industry, % of GDP
17.3%
2024
12.2%
2024
Agriculture, forestry, and fishing, % of GDP
1.28%
2024
3.49%
2024
GNI, Atlas method
$528B
2024
$7.61B
2024
GNI per capita, PPP
$56,790
2024
$33,970
2024
Total reserves including gold
$215B
2024
$1.74B
2024
Total reserves ranking
18/177
2024
130/177
2024
Net foreign direct investment
-$4.86B
2024
-$532M
2024
Net inflows of foreign direct investment
$14.8B
2024
$599M
2024
Net outflows of foreign direct investment
$9.92B
2024
$67.8M
2024
Servicing debt to the IMF, % of GNI n/a
15%
2024
Poverty at national poverty lines
22%
2020
20%
2023
Gross capital formation, % of GDP
23.4%
2024
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/israel/montenegro | CC BY

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (2000–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.