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Economy of Kenya vs Montenegro compared: GDP & Debt

Updated on by Georank

Kenya has a GDP of $136B compared to $9.23B for Montenegro, ranking 62/197 and 155/197 by economy size, respectively.

Kenya has $94.3B in government debt (69.3% of GDP), compared to $6.19B (67.1% of GDP) in Montenegro.

Kenya vs Montenegro GDP by year

Kenya
Montenegro
1x
Year GDP, current $
Kenya Montenegro
2025 $135,941,278,879 $9,232,801,465
2024 $120,397,537,850 $8,274,290,506
2023 $107,500,884,685 $7,643,318,276
2022 $114,448,978,153 $6,259,721,790
2021 $109,703,658,905 $5,822,908,964
2020 $100,657,505,751 $4,734,192,593
2019 $100,378,436,207 $5,483,622,632
2018 $92,202,979,985 $5,433,469,311
2017 $82,036,510,877 $4,803,964,684
2016 $74,815,144,164 $4,357,467,226
2015 $70,120,446,897 $4,010,884,107
2014 $68,285,796,514 $4,579,635,404
2013 $61,671,440,408 $4,422,097,042
2012 $56,396,704,672 $4,071,828,832
2011 $46,869,473,151 $4,507,127,585
2010 $45,405,615,064 $4,136,936,244
2009 $42,347,217,913 $4,159,063,347
2008 $35,895,153,328 $4,559,410,049
2007 $31,958,195,182 $3,682,586,459
2006 $25,825,512,284 $2,719,979,875
2005 $18,737,895,513 $2,258,016,380
2004 $16,095,337,094 $2,077,046,942
2003 $14,904,517,650 $1,708,196,981
2002 $13,147,736,899 $1,286,314,054
2001 $12,986,007,426 $1,159,869,246
2000 $12,705,350,098 $984,293,044
1999 $12,896,010,459 $828,950,327
1998 $14,093,998,844 $854,261,161
1997 $13,115,764,358 $838,288,806
1996 $12,045,865,396 -
1995 $9,046,320,255 -
1994 $7,148,148,564 -
1993 $5,751,786,643 -
1992 $8,209,120,763 -
1991 $8,151,488,783 -
1990 $8,572,359,038 -
1989 $8,283,114,514 -
1988 $8,355,380,879 -
1987 $7,970,820,369 -
1986 $7,239,126,568 -
1985 $6,135,034,214 -
1984 $6,191,437,070 -
1983 $5,979,198,314 -
1982 $6,431,579,357 -
1981 $6,854,491,706 -
1980 $7,265,315,820 -
1979 $6,234,391,113 -
1978 $5,303,735,111 -
1977 $4,494,378,764 -
1976 $3,474,542,392 -
1975 $3,259,345,083 -
1974 $2,969,958,812 -
1973 $2,509,001,324 -
1972 $2,107,279,157 -
1971 $1,778,391,289 -
1970 $1,603,447,359 -
1969 $1,458,379,417 -
1968 $1,353,295,459 -
1967 $1,232,559,507 -
1966 $1,164,519,674 -
1965 $997,919,321 -
1964 $998,759,334 -
1963 $926,589,349 -
1962 $868,111,401 -
1961 $792,959,473 -
1960 $791,265,459 -

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

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

GDP per capita in Kenya vs Montenegro by year

Kenya
GDP per capita

GDP per capita, PPP
Montenegro
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kenya Montenegro
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $2,363 - $14,817 -
2024 $2,133 $6,644 $13,270 $34,063
2023 $1,943 $6,317 $12,258 $31,863
2022 $2,110 $5,883 $10,038 $28,050
2021 $2,061 $5,339 $9,316 $23,690
2020 $1,928 $4,793 $7,555 $20,625
2019 $1,960 $4,687 $8,749 $23,706
2018 $1,836 $4,412 $8,674 $21,084
2017 $1,667 $4,177 $7,674 $19,357
2016 $1,554 $3,917 $6,968 $18,030
2015 $1,489 $3,678 $6,421 $16,092
2014 $1,483 $3,359 $7,342 $15,276
2013 $1,371 $3,106 $7,103 $14,692
2012 $1,285 $2,847 $6,552 $13,793
2011 $1,096 $2,750 $7,266 $14,347
2010 $1,092 $2,635 $6,679 $13,612
2009 $1,048 $2,480 $6,727 $12,976
2008 $916 $2,459 $7,390 $13,802
2007 $840 $2,481 $5,979 $12,452
2006 $700 $2,330 $4,423 $10,440
2005 $523 $2,189 $3,676 $8,314
2004 $464 $2,066 $3,386 $7,841
2003 $443 $1,975 $2,790 $7,340
2002 $403 $1,940 $2,109 $7,100
2001 $411 $1,961 $1,910 $6,772
2000 $415 $1,907 $1,627 $6,004
1999 $434 $1,910 $1,368 $5,684
1998 $488 $1,895 $1,406 $6,170
1997 $467 $1,865 $1,375 $5,798
1996 $441 $1,875 - -
1995 $340 $1,818 - -
1994 $276.4 $1,754 - -
1993 $229 $1,723 - -
1992 $337 $1,728 - -
1991 $345 $1,756 - -
1990 $374 $1,729 - -
1989 $374 - - -
1988 $391 - - -
1987 $387 - - -
1986 $364 - - -
1985 $320 - - -
1984 $334 - - -
1983 $335 - - -
1982 $374 - - -
1981 $413 - - -
1980 $454 - - -
1979 $403 - - -
1978 $355 - - -
1977 $311 - - -
1976 $248.9 - - -
1975 $241.2 - - -
1974 $227.2 - - -
1973 $198.6 - - -
1972 $172.6 - - -
1971 $150.9 - - -
1970 $141 - - -
1969 $133.3 - - -
1968 $128.7 - - -
1967 $121.9 - - -
1966 $119.8 - - -
1965 $106.9 - - -
1964 $111.3 - - -
1963 $107.4 - - -
1962 $104.6 - - -
1961 $99.3 - - -
1960 $102.8 - - -

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

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

Kenya's GDP per capita is $2,363, ranking 154/197, compared to $14,817 in Montenegro, ranking 71/197. Adjusted for purchasing power (GDP per capita PPP), Kenya ranks 149th at $6,644, while Montenegro ranks 65th at $34,063.

Economic indicators

Kenya Montenegro
Gross domestic product
$136B
2025
$9.23B
2025
GDP rank
62/197
2025
155/197
2025
GDP growth
4.63%
2024-2025
2.74%
2024-2025
GDP per capita
$2,363
2025
$14,817
2025
GDP per capita rank
154/197
2025
71/197
2025
GDP per capita, PPP
$6,644
2024
$34,063
2024
GDP per capita PPP rank
149/197
2024
65/197
2024
Government debt
$94.3B
2025
$6.19B
2025
Debt-to-GDP ratio
69.3%
2025
67.1%
2025
Government debt per person
$1,638
2025
$9,942
2025
Government debt per person rank
126/185
2025
61/185
2025
Average annual personal income after taxes
$2,538
2026
$12,768
2026
Market capitalization of domestic companies
$22.8B
2025
$3.79B
2012
Income share by richest 10%
30.9%
2022
24.7%
2021
Income share by poorest 10%
2.9%
2022
2.1%
2021
Government expenditure, % of GDP
24%
2025
43.9%
2025
Consumer prices inflation
4.07%
2024-2025
3.9%
2024-2025
Central bank interest rate
8.75%
2026
n/a
Unemployment rate
5.44%
2022
11.5%
2024
Population
59218766
613759

Spending and national debt comparison by year

Kenya
Spending

Debt
Montenegro
Spending

Debt
1x
Year % of GDP
Kenya Montenegro
Government spending Government debt Government spending Government debt
2025 24% 69.3% 43.9% 67.1%
2024 23.2% 67.3% 44.1% 60.8%
2023 22.6% 73.4% 40.4% 59.6%
2022 23.1% 67.8% 42.2% 70.3%
2021 24% 68.2% 45.1% 86.2%
2020 24.8% 68% 54.9% 108.4%
2019 24.4% 59.1% 44.4% 79.6%
2018 24.5% 56.4% 47.8% 72.9%
2017 25.2% 53.9% 47.6% 66.9%
2016 25.3% 50.4% 47.7% 66.7%
2015 23.8% 45.8% 46.9% 69.5%
2014 23.4% 41.3% 44.3% 63.6%
2013 23.2% 39.8% 46.3% 59.2%
2012 22.1% 37.6% 45.9% 57.1%
2011 20.1% 35.7% 45.7% 49%
2010 21.5% 36.7% 46.7% 45.1%
2009 20.3% 36% 51.5% 43.9%
2008 18.9% 34.3% 51.2% 34.2%
2007 18.1% 34.2% 43.9% 31.8%
2006 17.3% 37.1% 42.6% 36.7%
2005 16.2% 37.4% 38.2% 38.6%
2004 15.4% 40.8% 40% 45.4%
2003 16% 43.8% 43.3% 48.6%
2002 15.7% 42% 37.5% 85.7%
2001 14.9% 41.3% - -
2000 14.1% 43.1% - -
1999 13.7% 38.4% - -
1998 15.3% 38.5% - -
1997 15.6% 36% - -
1996 15.2% 40.5% - -
1995 17.3% 52.1% - -
1994 18.8% 57% - -
1993 18.9% 61.6% - -
1992 17.6% 41.2% - -
1991 16.4% 43% - -
1990 17.2% 37.6% - -
1989 16.3% 33.4% - -
1988 15.9% 33.9% - -
1987 15.5% 36.3% - -
1986 15.3% 31.3% - -
1985 15.6% 28.8% - -
1984 14.9% 25.6% - -
1983 14.6% 26.1% - -
1982 16.2% 26.9% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-07-08).

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

In 2025, Kenya's government spending was $32.6B, accounting for 24% of its GDP, while Montenegro spent $4.05B, or 43.9% of GDP.

Debt-to-GDP ratio is 69.3% in Kenya and 67.1% in Montenegro, ranking 59/185 and 63/185, respectively.

Government deficit by year

Deficit/surplus
Kenya

Montenegro
1x
Year Deficit/surplus, % of GDP
Kenya Montenegro
2025 -6.41% -3.61%
2024 -5.74% -3.44%
2023 -5.61% 0.38%
2022 -6.01% -4.05%
2021 -7.2% -1.37%
2020 -8.13% -10.9%
2019 -7.4% -1.74%
2018 -6.91% -6.3%
2017 -7.37% -6.89%
2016 -7.45% -6.21%
2015 -6.68% -6.03%
2014 -5.75% -0.7%
2013 -5.25% -4.54%
2012 -5.29% -5.87%
2011 -3.64% -6.79%
2010 -3.67% -4.88%
2009 -3.12% -6.74%
2008 -1.95% -2.3%
2007 -0.95% 8.44%
2006 -0.43% 4.34%
2005 -0.19% -1.42%
2004 0.5% -2.45%
2003 -0.73% -4.06%
2002 -1.29% -1.44%
2001 -0.53% -
2000 0.38% -
1999 0.84% -
1998 -0.03% -
1997 -0.91% -
1996 -0.49% -
1995 -0.23% -
1994 -4.14% -
1993 -8.57% -
1992 -8.28% -
1991 -6.56% -
1990 -3.28% -
1989 -2.39% -
1988 -1.97% -
1987 -2.27% -
1986 -2.98% -
1985 -3.05% -
1984 -2.55% -
1983 -2.17% -
1982 -3.07% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-07-08).

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

In 2025, Kenya's government deficit, the difference between spending and revenue, was $8.72B, equivalent to 6.41% of GDP. This compares to Montenegro's deficit of $334M, or 3.61% of GDP.

Over the past 24 years, Kenya recorded a fiscal deficit in 23 of those years, while Montenegro ran a deficit in 21 years. On average, Kenya posted an annual deficit equal to 4.45% of GDP, compared to deficit of 3.27% of GDP for Montenegro.

Inflation comparison by year

Inflation
Kenya

Montenegro
1x
Year Consumer prices inflation
Kenya Montenegro
2025 4.07% 3.9%
2024 4.49% 3.3%
2023 7.67% 8.6%
2022 7.66% 13%
2021 6.11% 2.4%
2020 5.41% -0.3%
2019 5.24% 0.4%
2018 4.69% 2.6%
2017 8.01% 2.4%
2016 6.3% -0.3%
2015 6.58% 1.5%
2014 6.88% -0.7%
2013 5.72% 2.2%
2012 9.38% 4.1%
2011 14% 3.5%
2010 3.96% 0.4%
2009 9.23% 3.6%
2008 26.2% 9%
2007 9.76% 3.4%
2006 14.5% 2.1%
2005 10.3% 3.4%
2004 11.6% 3.1%
2003 9.82% 7.5%
2002 1.96% 19.7%
2001 5.74% 23.7%
2000 9.98% 29.9%
1999 5.74% -
1998 6.72% -
1997 11.4% -

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/kenya/montenegro | CC BY

Over the past 26 years, Kenya has recorded an average annual inflation rate of 8.28%, compared with 5.86% in Montenegro. In 2025, inflation was 4.07% in Kenya and 3.9% in Montenegro.

Top exports between countries

Kenya
Export category Export value
Montenegro
Export category Export value
Processed food, beverages & tobacco $22K
Precious metals & jewellery $5K
Textiles & consumer goods $2K
Machinery & equipment $1K

Balance of trade

Kenya Montenegro
Current account balance
-$1.55B
2024
-$1.88B
2025
Current account balance ranking
130/190
2024
140/190
2025
Current account balance, % of GDP
-1.29%
2024
-20.4%
2025
Goods imports
$22.2B
2024
$4.91B
2025
Goods exports
$12.5B
2024
$663M
2025
Service imports
$5.64B
2024
$1.24B
2025
Service exports
$8.04B
2024
$3.07B
2025
Imports of goods and services, % of GDP
21.8%
2025
65.7%
2025
Exports of goods and services, % of GDP
15.8%
2025
40.1%
2025

Economic freedom indices

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

Kenya Montenegro
Economic freedom 55.5 63.8
Economic freedom ranking 128/197 78/197
Property rights 40.2 60.9
Government integrity 32.7 49.9
Judicial effectiveness 47 51.5
Tax burden 76.3 88.7
Government spending 84.1 47.6
Fiscal health 36.2 86.2
Business freedom 61.5 68.4
Labor freedom 56.5 59.4
Monetary freedom 75.1 75.2
Trade freedom 52 78.4
Investment freedom 55 50
Financial freedom 50 50

Economic freedom comparison by year

Kenya
Montenegro
1x
Year Economic freedom index
Kenya Montenegro
2026 55.5 63.8
2025 54.8 63.8
2024 53.6 59.7
2023 52.5 60.9
2022 52.6 57.8
2021 54.9 63.4
2020 55.3 61.5
2019 55.1 60.5
2018 54.7 64.3
2017 53.5 62
2016 57.5 64.9
2015 55.6 64.7
2014 57.1 63.6
2013 55.9 62.6
2012 57.5 62.5
2011 57.4 62.5
2010 57.5 63.6
2009 58.7 58.2
2008 59.3 -
2007 59.6 -
2006 59.7 -
2005 57.9 -
2004 57.7 -
2003 58.6 43.5
2002 58.2 46.6
2001 57.6 -
2000 59.7 -
1999 58.2 -
1998 58.4 -
1997 60.1 -
1996 56.4 -
1995 54.5 -

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

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

The Economic Freedom Index for Kenya is 55.5, ranking 128/197, 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

Kenya Montenegro
Services, % of GDP
55.1%
2025
63.4%
2025
Industry, % of GDP
16.3%
2025
11.3%
2025
Agriculture, forestry, and fishing, % of GDP
23.2%
2025
3.37%
2025
GNI, Atlas method
$127B
2025
$8.82B
2025
GNI per capita, PPP
$6,910
2025
$35,700
2025
Total reserves including gold
$12.4B
2025
$2.2B
2025
Total reserves ranking
76/177
2025
126/177
2025
Net foreign direct investment
-$45.8M
2024
-$601M
2025
Net inflows of foreign direct investment
$463M
2024
$599M
2024
Net outflows of foreign direct investment
$418M
2024
$67.8M
2024
Servicing debt to the IMF, % of GNI
4.82%
2024
15%
2024
Poverty at national poverty lines
39.8%
2022
20%
2023
Gross capital formation, % of GDP
17%
2025
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/kenya/montenegro | CC BY

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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. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1982–1997, retrieved 2026-07-08)
  6. TradeMap (2023–2024, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. 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.