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Economy of Liechtenstein vs Montenegro compared: GDP & Debt

Updated on by Georank team

Liechtenstein has a GDP of $8.29B compared to $8.07B for Montenegro, ranking 155/197 and 156/197 by economy size, respectively.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Liechtenstein
GDP, current $

GDP, constant 2015 $
Montenegro
GDP, current $

GDP, constant 2015 $
Year GDP
Liechtenstein Montenegro
Current $ Constant $ Current $ Constant $
1970 $90,099,361 - - -
1971 $104,889,795 - - -
1972 $124,940,289 - - -
1973 $165,928,882 - - -
1974 $193,980,465 - - -
1975 $246,389,102 - - -
1976 $272,489,300 - - -
1977 $303,493,119 - - -
1978 $436,912,068 - - -
1979 $503,173,104 - - -
1980 $534,699,363 - - -
1981 $511,647,750 - - -
1982 $522,096,760 - - -
1983 $524,023,625 - - -
1984 $502,620,992 - - -
1985 $529,073,612 - - -
1986 $779,357,803 - - -
1987 $1,052,848,996 - - -
1988 $1,161,757,671 - - -
1989 $1,119,983,801 - - -
1990 $1,421,509,216 - - -
1991 $1,484,160,302 - - -
1992 $1,631,177,029 - - -
1993 $1,673,085,245 - - -
1994 $1,948,129,623 - - -
1995 $2,428,525,061 - - -
1996 $2,504,012,993 - - -
1997 $2,298,389,803 - $838,288,806 $2,736,010,100
1998 $2,479,699,106 - $854,261,161 $2,870,074,755
1999 $2,664,105,901 - $828,950,327 $2,600,287,782
2000 $2,483,889,858 - $984,293,044 $2,680,896,704
2001 $2,491,800,559 - $1,159,869,246 $2,710,382,244
2002 $2,688,618,747 - $1,284,685,051 $2,761,986,207
2003 $3,070,803,051 - $1,707,710,053 $2,830,556,913
2004 $3,454,373,798 - $2,073,234,418 $2,955,838,797
2005 $3,659,319,117 - $2,257,174,481 $3,079,410,727
2006 $4,000,102,086 - $2,721,903,149 $3,343,205,923
2007 $4,601,429,897 - $3,680,711,744 $3,570,883,265
2008 $5,081,479,840 - $4,545,674,528 $3,828,799,329
2009 $4,504,375,348 - $4,159,330,370 $3,606,916,694
2010 $5,082,337,238 - $4,142,983,843 $3,705,541,738
2011 $5,739,706,005 - $4,544,428,421 $3,825,173,339
2012 $5,456,102,482 - $4,087,526,242 $3,720,983,620
2013 $6,391,708,311 - $4,465,772,400 $3,853,040,581
2014 $6,657,526,980 - $4,593,853,291 $3,921,767,212
2015 $6,268,515,276 - $4,054,730,078 $4,054,730,078
2016 $6,237,302,034 - $4,376,930,578 $4,174,315,434
2017 $6,474,308,718 - $4,856,599,481 $4,371,195,572
2018 $6,692,620,692 - $5,506,942,238 $4,593,160,023
2019 $6,436,467,007 - $5,542,054,181 $4,779,777,588
2020 $6,405,870,210 - $4,769,996,866 $4,048,142,111
2021 $7,912,602,342 - $5,861,427,505 $4,576,160,080
2022 $7,378,156,576 - $6,229,801,581 $4,869,340,027
2023 $8,287,748,667 - $7,530,593,375 $5,177,944,070
2024 - - $8,069,536,126 $5,335,369,922

Economic indicators

Liechtenstein Montenegro
Gross domestic product
$8.29B
2023
$8.07B
2024
GDP rank
155/197
2023
156/197
2024
GDP growth
12.3%
2022-2023
7.16%
2023-2024
GDP per capita
$207,974
2023
$12,935
2024
GDP per capita rank
2/197
2023
78/197
2024
GDP per capita, PPP
$139,100
2009
$33,380
2024
Government debt n/a
$5.05B
2024
Debt-to-GDP ratio n/a
60.3%
2025
Government debt per person n/a
$8,103
2024
Government debt per person rank n/a
65/185
2024
Average annual personal income after taxes
$97,623
2025
$12,008
2025
Market capitalization of domestic companies n/a
$3.79B
2012
Number of billionaires
1
2025
n/a
Income share by richest 10% n/a
24.7%
2021
Income share by poorest 10% n/a
2.1%
2021
Government expenditure, % of GDP
22.6%
2025
44%
2025
Consumer prices inflation
-0.4%
2019-2020
4.1%
2024-2025
Unemployment rate
2.01%
2007
13.1%
2023
Population
40646
618209

GDP per capita in Liechtenstein vs Montenegro

Liechtenstein's GDP per capita is $207,974, ranking 2/197, compared to $12,935 in Montenegro, ranking 78/197. Adjusted for purchasing power (GDP per capita PPP), Liechtenstein ranks 3rd at $139,100, while Montenegro ranks 66th at $33,380.

Liechtenstein
GDP per capita

GDP per capita, PPP
Montenegro
GDP per capita

GDP per capita, PPP
Year Current $
Liechtenstein Montenegro
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1970 $4,262 - - -
1971 $4,856 - - -
1972 $5,645 - - -
1973 $7,282 - - -
1974 $8,272 - - -
1975 $10,333 - - -
1976 $11,326 - - -
1977 $12,417 - - -
1978 $17,457 - - -
1979 $19,674 - - -
1980 $20,959 - - -
1981 $19,929 - - -
1982 $19,886 - - -
1983 $19,815 - - -
1984 $18,898 - - -
1985 $19,684 - - -
1986 $28,613 - - -
1987 $38,206 - - -
1988 $41,569 - - -
1989 $39,552 - - -
1990 $49,458 - - -
1991 $50,812 - - -
1992 $55,057 - - -
1993 $55,605 - - -
1994 $63,936 - - -
1995 $78,910 - - -
1996 $80,689 - - -
1997 $73,591 - $1,375 $5,797
1998 $78,303 $23,000 $1,406 $6,168
1999 $82,682 $25,000 $1,368 $5,683
2000 $76,088 - $1,627 $6,003
2001 $75,068 - $1,910 $6,772
2002 $79,795 - $2,107 $7,100
2003 $90,108 - $2,789 $7,341
2004 $100,281 - $3,380 $7,843
2005 $105,295 - $3,675 $8,314
2006 $114,168 - $4,426 $10,459
2007 $130,493 $122,100 $5,976 $12,462
2008 $143,249 $141,100 $7,368 $13,817
2009 $126,025 $139,100 $6,727 $13,022
2010 $141,090 - $6,688 $13,634
2011 $158,066 - $7,326 $14,466
2012 $148,842 - $6,578 $13,846
2013 $172,824 - $7,173 $14,837
2014 $178,735 - $7,365 $15,323
2015 $167,187 - $6,491 $16,272
2016 $165,375 - $6,999 $18,110
2017 $170,547 - $7,758 $19,569
2018 $174,989 - $8,791 $21,368
2019 $166,908 - $8,842 $23,958
2020 $164,671 - $7,613 $20,827
2021 $201,945 - $9,377 $23,843
2022 $186,822 - $9,990 $27,597
2023 $207,974 - $12,077 $30,601
2024 - - $12,935 $33,380

Inflation comparison by year

Over the past 21 years, Liechtenstein has recorded an average annual inflation rate of -0.01%, compared with 5.77% in Montenegro. In 2020, inflation was -0.4% in Liechtenstein and 4.1% in Montenegro.

Inflation
Liechtenstein

Montenegro
Year Inflation
Liechtenstein Montenegro Liechtenstein Montenegro
1997 0.5% -
1998 - -
1999 - -
2000 - 29.9%
2001 1% 23.7%
2002 - 19.7%
2003 - 7.5%
2004 - 3.1%
2005 - 3.4%
2006 - 2.1%
2007 - 3.4%
2008 - 9%
2009 0.5% 3.6%
2010 0.7% 0.4%
2011 0.2% 3.5%
2012 -0.7% 4.1%
2013 -0.2% 2.2%
2014 - -0.7%
2015 - 1.5%
2016 -0.4% -0.3%
2017 - 2.4%
2018 -0.4% 2.6%
2019 -0.4% 0.4%
2020 -0.4% -0.3%
2021 - 2.4%
2022 - 13%
2023 - 8.6%
2024 - 3.3%
2025 - 4.1%

Balance of trade

Liechtenstein Montenegro
Current account balance
n/a
-$1.4B
2024
Current account balance ranking n/a
130/189
2024
Current account balance, % of GDP n/a
-17.4%
2024
Goods imports n/a
$4.29B
2024
Goods exports n/a
$714M
2024
Service imports n/a
$1.19B
2024
Service exports n/a
$2.92B
2024
Imports of goods and services, % of GDP n/a
67.5%
2024
Exports of goods and services, % of GDP n/a
44.9%
2024

Economic freedom indices

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

Liechtenstein Montenegro
Economic freedom 74 63.8
Economic freedom ranking 21/197 75/197
Property rights 94.4 58.8
Government integrity 82.4 48.9
Judicial effectiveness 86.7 50.1
Tax burden n/a 88.7
Government spending n/a 45.2
Fiscal health n/a 87.9
Business freedom 88.2 70.9
Labor freedom 85.7 64.4
Monetary freedom n/a 70.9
Trade freedom 86.6 79.6
Investment freedom 80 50
Financial freedom 80 50

More economic indicators

Liechtenstein Montenegro
Services, % of GDP
55.6%
2022
62.1%
2024
Industry, % of GDP
40.6%
2022
11.6%
2024
Agriculture, forestry, and fishing, % of GDP
0.17%
2022
5.16%
2024
GNI, Atlas method
$4.16B
2009
$7.5B
2024
GNI per capita, PPP n/a
$33,280
2024
Total reserves including gold n/a
$1.74B
2024
Total reserves ranking n/a
130/177
2024
Net foreign direct investment
n/a
-$532M
2024
Net inflows of foreign direct investment
-$87.2B
2018
$599M
2024
Net outflows of foreign direct investment
n/a
$67.8M
2024
Servicing debt to the IMF, % of GNI
n/a
10.3%
2023
Poverty at national poverty lines n/a
20%
2023
Gross capital formation, % of GDP
n/a
28.5%
2024

GDP per capita map

GDP per capita

Compare countries by 7 more topics

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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.