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Economy of Montenegro vs Netherlands compared: GDP & Debt

Updated on by Georank

Montenegro has a GDP of $9.23B compared to $1.33T for the Netherlands, ranking 155/197 and 18/197 by economy size, respectively.

Montenegro has $6.19B in government debt (67.1% of GDP), compared to $578B (43.3% of GDP) in the Netherlands.

Montenegro vs Netherlands GDP by year

Montenegro
Netherlands
1x
Year GDP, current $
Montenegro Netherlands
2025 $9,232,801,465 $1,332,767,651,100
2024 $8,274,290,506 $1,213,936,238,063
2023 $7,643,318,276 $1,135,475,867,551
2022 $6,259,721,790 $1,046,540,797,549
2021 $5,822,908,964 $1,054,472,123,450
2020 $4,734,192,593 $932,560,861,701
2019 $5,483,622,632 $928,903,005,576
2018 $5,433,469,311 $929,733,599,797
2017 $4,803,964,684 $848,233,537,846
2016 $4,357,467,226 $797,163,949,290
2015 $4,010,884,107 $775,743,675,303
2014 $4,579,635,404 $901,556,501,756
2013 $4,422,097,042 $883,951,539,007
2012 $4,071,828,832 $845,689,017,066
2011 $4,507,127,585 $913,140,741,333
2010 $4,136,936,244 $852,464,982,433
2009 $4,159,063,347 $878,954,223,140
2008 $4,559,410,049 $957,901,566,041
2007 $3,682,586,459 $853,499,460,873
2006 $2,719,979,875 $737,593,995,289
2005 $2,258,016,380 $688,133,699,636
2004 $2,077,046,942 $661,224,886,143
2003 $1,708,196,981 $582,435,617,082
2002 $1,286,314,054 $475,529,972,123
2001 $1,159,869,246 $432,536,219,669
2000 $984,293,044 $417,649,282,154
1999 $828,950,327 $447,778,514,140
1998 $854,261,161 $438,612,530,549
1997 $838,288,806 $417,506,211,882
1996 - $451,372,549,020
1995 - $452,967,334,614
1994 - $379,688,232,232
1993 - $354,070,495,966
1992 - $363,497,050,125
1991 - $327,982,316,124
1990 - $318,799,003,994
1989 - $258,716,904,292
1988 - $262,295,966,105
1987 - $245,406,949,521
1986 - $201,157,708,221
1985 - $144,057,523,222
1984 - $144,124,462,912
1983 - $153,671,294,109
1982 - $158,712,765,536
1981 - $164,375,775,854
1980 - $195,439,301,707
1979 - $179,933,827,310
1978 - $156,089,077,205
1977 - $127,203,923,857
1976 - $109,329,386,564
1975 - $100,397,061,694
1974 - $87,371,810,804
1973 - $71,946,639,603
1972 - $54,787,070,173
1971 - $44,644,730,576
1970 - $38,220,884,519
1969 - $34,086,038,090
1968 - $30,097,635,751
1967 - $27,143,828,099
1966 - $24,741,480,717
1965 - $22,721,869,808
1964 - $20,232,048,553
1963 - $17,193,744,109
1962 - $15,847,582,341
1961 - $14,599,836,396
1960 - $13,282,979,015

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

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

GDP per capita in Montenegro vs Netherlands by year

Montenegro
GDP per capita

GDP per capita, PPP
Netherlands
GDP per capita

GDP per capita, PPP
1x
Year Current $
Montenegro Netherlands
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $14,817 - $73,684 -
2024 $13,270 $34,063 $67,465 $86,174
2023 $12,258 $31,863 $63,516 $81,729
2022 $10,038 $28,050 $59,123 $78,630
2021 $9,316 $23,690 $60,142 $68,574
2020 $7,555 $20,625 $53,468 $62,597
2019 $8,749 $23,706 $53,555 $62,345
2018 $8,674 $21,084 $53,955 $58,819
2017 $7,674 $19,357 $49,514 $56,038
2016 $6,968 $18,030 $46,809 $53,162
2015 $6,421 $16,092 $45,794 $50,957
2014 $7,342 $15,276 $53,457 $49,751
2013 $7,103 $14,692 $52,602 $49,622
2012 $6,552 $13,793 $50,474 $47,653
2011 $7,266 $14,347 $54,702 $47,004
2010 $6,679 $13,612 $51,306 $45,301
2009 $6,727 $12,976 $53,172 $44,959
2008 $7,390 $13,802 $58,247 $46,714
2007 $5,979 $12,452 $52,101 $44,203
2006 $4,423 $10,440 $45,124 $41,208
2005 $3,676 $8,314 $42,165 $37,778
2004 $3,386 $7,841 $40,611 $35,961
2003 $2,790 $7,340 $35,897 $34,286
2002 $2,109 $7,100 $29,447 $34,568
2001 $1,910 $6,772 $26,956 $33,259
2000 $1,627 $6,004 $26,225 $31,895
1999 $1,368 $5,684 $28,319 $29,316
1998 $1,406 $6,170 $27,924 $27,749
1997 $1,375 $5,798 $26,745 $26,062
1996 - - $29,064 $24,564
1995 - - $29,301 $23,480
1994 - - $24,683 $22,414
1993 - - $23,156 $21,443
1992 - - $23,939 $20,831
1991 - - $21,764 $20,177
1990 - - $21,322 $19,203
1989 - - $17,423 -
1988 - - $17,771 -
1987 - - $16,734 -
1986 - - $13,804 -
1985 - - $9,941 -
1984 - - $9,992 -
1983 - - $10,696 -
1982 - - $11,089 -
1981 - - $11,537 -
1980 - - $13,812 -
1979 - - $12,817 -
1978 - - $11,196 -
1977 - - $9,180 -
1976 - - $7,937 -
1975 - - $7,346 -
1974 - - $6,450 -
1973 - - $5,353 -
1972 - - $4,110 -
1971 - - $3,384 -
1970 - - $2,931 -
1969 - - $2,647 -
1968 - - $2,364 -
1967 - - $2,155 -
1966 - - $1,986 -
1965 - - $1,848 -
1964 - - $1,668 -
1963 - - $1,437 -
1962 - - $1,342 -
1961 - - $1,254 -
1960 - - $1,156 -

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

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

Montenegro's GDP per capita is $14,817, ranking 71/197, compared to $73,684 in the Netherlands, ranking 12/197. Adjusted for purchasing power (GDP per capita PPP), Montenegro ranks 65th at $34,063, while the Netherlands ranks 11th at $86,174.

Economic indicators

Montenegro Netherlands
Gross domestic product
$9.23B
2025
$1.33T
2025
GDP rank
155/197
2025
18/197
2025
GDP growth
2.74%
2024-2025
1.78%
2024-2025
GDP per capita
$14,817
2025
$73,684
2025
GDP per capita rank
71/197
2025
12/197
2025
GDP per capita, PPP
$34,063
2024
$86,174
2024
GDP per capita PPP rank
65/197
2024
11/197
2024
Government debt
$6.19B
2025
$578B
2025
Debt-to-GDP ratio
67.1%
2025
43.3%
2025
Government debt per person
$9,942
2025
$31,942
2025
Government debt per person rank
61/185
2025
23/185
2025
Average annual personal income after taxes
$12,768
2026
$46,674
2026
Market capitalization of domestic companies
$3.79B
2012
$1.1T
2017
Number of millionaires n/a
1,294,000
2026
Number of billionaires n/a
13
2026
Income share by richest 10%
24.7%
2021
21.4%
2021
Income share by poorest 10%
2.1%
2021
3.6%
2021
Government expenditure, % of GDP
43.9%
2025
45.1%
2025
Consumer prices inflation
3.9%
2024-2025
3.26%
2024-2025
Unemployment rate
11.5%
2024
3.9%
2025
Population
613759
18243998

Spending and national debt comparison by year

Montenegro
Spending

Debt
Netherlands
Spending

Debt
1x
Year % of GDP
Montenegro Netherlands
Government spending Government debt Government spending Government debt
2025 43.9% 67.1% 45.1% 43.3%
2024 44.1% 60.8% 44.4% 43.7%
2023 40.4% 59.6% 44% 45.8%
2022 42.2% 70.3% 43.3% 48.4%
2021 45.1% 86.2% 45.9% 50.5%
2020 54.9% 108.4% 47.8% 53.4%
2019 44.4% 79.6% 42.1% 47.7%
2018 47.8% 72.9% 42.4% 51.6%
2017 47.6% 66.9% 42.8% 56%
2016 47.7% 66.7% 43.9% 60.9%
2015 46.9% 69.5% 45.3% 63.8%
2014 44.3% 63.6% 46.7% 67.2%
2013 46.3% 59.2% 47.5% 67.2%
2012 45.9% 57.1% 47.6% 65.7%
2011 45.7% 49% 47.8% 61.2%
2010 46.7% 45.1% 48.9% 58.9%
2009 51.5% 43.9% 48.4% 56.3%
2008 51.2% 34.2% 44.3% 54.4%
2007 43.9% 31.8% 43.3% 42.7%
2006 42.6% 36.7% 44% 45%
2005 38.2% 38.6% 43.4% 49.6%
2004 40% 45.4% 44.7% 50.1%
2003 43.3% 48.6% 45.8% 49.8%
2002 37.5% 85.7% 44.8% 48.7%
2001 - - 44.1% 49.4%
2000 - - 43.2% 52.2%
1999 - - 44.3% 58.6%
1998 - - 44.6% 62.7%
1997 - - 45.7% 65.7%
1996 - - 47.3% 71.2%
1995 - - 53.9% 73%
1994 - - 49.4% 73.5%
1993 - - 50.9% 76.7%
1992 - - 50.2% 75.6%
1991 - - 49.6% 74.8%
1990 - - 48.8% 75%
1989 - - 54.5% 73.7%
1988 - - 56.4% 73.7%
1987 - - 58.5% 71.3%
1986 - - 57% 68.9%
1985 - - 57.3% 67.1%
1984 - - 58.1% 61.9%
1983 - - 59.1% 58.4%
1982 - - 59.1% 52.4%
1981 - - 56.8% 46.9%
1980 - - 55.2% 43.6%
1979 - - 53.7% 39.5%
1978 - - 52.3% 38.1%
1977 - - 50.6% 34.9%
1976 - - 50.8% 35.2%
1975 - - 50.8% 36.1%
1974 - - 46.4% 36.3%
1973 - - 44.6% 38.1%
1972 - - 44.9% 41.3%
1971 - - 44.6% 43.7%
1970 - - 43.2% 46.1%
1969 - - 42.1% 48.2%
1968 - - 25.4% 54.4%
1967 - - 24.1% 55%
1966 - - 24.4% 55.6%
1965 - - 23.4% 55.8%
1964 - - 22.3% 57.1%
1963 - - 21.9% 61.7%
1962 - - 22.1% 63.8%
1961 - - 22.2% 65.9%
1960 - - 20.4% 66.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1989, retrieved 2026-07-08).

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

In 2025, Montenegro's government spending was $4.05B, accounting for 43.9% of its GDP, while the Netherlands spent $602B, or 45.1% of GDP.

Debt-to-GDP ratio is 67.1% in Montenegro and 43.3% in the Netherlands, ranking 63/185 and 121/185, respectively.

Government deficit by year

Deficit/surplus
Montenegro

Netherlands
1x
Year Deficit/surplus, % of GDP
Montenegro Netherlands
2025 -3.61% -1.84%
2024 -3.44% -0.94%
2023 0.38% -0.37%
2022 -4.05% 0.002%
2021 -1.37% -2.26%
2020 -10.9% -3.72%
2019 -1.74% 1.91%
2018 -6.3% 1.49%
2017 -6.89% 1.35%
2016 -6.21% 0.23%
2015 -6.03% -1.84%
2014 -0.7% -2.17%
2013 -4.54% -2.87%
2012 -5.87% -3.83%
2011 -6.79% -4.42%
2010 -4.88% -5.3%
2009 -6.74% -5.06%
2008 -2.3% -0.06%
2007 8.44% -0.16%
2006 4.34% 0.04%
2005 -1.42% -0.51%
2004 -2.45% -1.82%
2003 -4.06% -3.19%
2002 -1.44% -2.23%
2001 - -0.47%
2000 - 1.14%
1999 - 0.28%
1998 - -1.34%
1997 - -1.6%
1996 - -1.91%
1995 - -8.72%
1994 - -3.53%
1993 - -3.13%
1992 - -3.12%
1991 - -2.05%
1990 - -4.08%
1989 - -5%
1988 - -4.23%
1987 - -5.39%
1986 - -4.62%
1985 - -3.6%
1984 - -5.25%
1983 - -5.47%
1982 - -6.17%
1981 - -4.92%
1980 - -3.95%
1979 - -2.46%
1978 - -2.09%
1977 - -0.75%
1976 - -2.02%
1975 - -2.82%
1974 - -0.26%
1973 - 0.54%
1972 - -0.7%
1971 - -1.58%
1970 - -1.52%
1969 - -1.14%
1968 - -3.06%
1967 - -1.97%
1966 - -2.37%
1965 - -1.15%
1964 - -1.2%
1963 - -0.54%
1962 - -1.38%
1961 - -0.38%
1960 - 0.9%
1959 - -0.74%
1958 - -0.89%
1957 - 0.3%
1956 - -0.83%
1955 - -0.25%
1954 - 0.76%
1953 - -2.95%
1952 - 2.19%
1951 - 2.13%
1950 - 0.81%
1949 - 2.3%
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - -
1939 - -3.19%
1938 - -0.37%
1937 - 0.02%
1936 - -0.41%
1935 - -0.69%
1934 - -0.92%
1933 - -2.55%
1932 - -1.97%
1931 - -1.66%
1930 - -0.55%
1929 - -1.16%
1928 - -0.62%
1927 - -0.33%
1926 - -0.78%
1925 - -2.04%
1924 - -3.37%
1923 - -2.62%
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -0.45%
1912 - -0.47%
1911 - -0.13%
1910 - -0.93%
1909 - -0.34%
1908 - -0.57%
1907 - 0.03%
1906 - 0.16%
1905 - 0.1%
1904 - -0.72%
1903 - 0.09%
1902 - -0.14%
1901 - 0.03%
1900 - 0.06%
1899 - -0.13%
1898 - -0.48%
1897 - -0.45%
1896 - 0.08%
1895 - -0.06%
1894 - 0.12%
1893 - -0.76%
1892 - -1.72%
1891 - -0.06%
1890 - -0.06%
1889 - 0.04%
1888 - -0.31%
1887 - -0.37%
1886 - -0.08%
1885 - -0.55%
1884 - 0%
1883 - -2.1%
1882 - -1.11%
1881 - -1.06%
1880 - 0.21%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, Montenegro's government deficit, the difference between spending and revenue, was $334M, equivalent to 3.61% of GDP. This compares to the Netherlands' deficit of $24.5B, or 1.84% of GDP.

Over the past 24 years, Montenegro recorded a fiscal deficit in 21 of those years, while the Netherlands ran a deficit in 18 years. On average, Montenegro posted an annual deficit equal to 3.27% of GDP, compared to deficit of 1.57% of GDP for the Netherlands.

Inflation comparison by year

Inflation
Montenegro

Netherlands
1x
Year Consumer prices inflation
Montenegro Netherlands
2025 3.9% 3.26%
2024 3.3% 3.35%
2023 8.6% 3.84%
2022 13% 10%
2021 2.4% 2.68%
2020 -0.3% 1.27%
2019 0.4% 2.63%
2018 2.6% 1.7%
2017 2.4% 1.38%
2016 -0.3% 0.32%
2015 1.5% 0.6%
2014 -0.7% 0.98%
2013 2.2% 2.51%
2012 4.1% 2.46%
2011 3.5% 2.34%
2010 0.4% 1.28%
2009 3.6% 1.19%
2008 9% 2.49%
2007 3.4% 1.61%
2006 2.1% 1.1%
2005 3.4% 1.69%
2004 3.1% 1.26%
2003 7.5% 2.09%
2002 19.7% 3.29%
2001 23.7% 4.16%
2000 29.9% 2.36%
1999 - 2.16%
1998 - 1.96%
1997 - 2.11%

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/montenegro/netherlands | CC BY

Over the past 26 years, Montenegro has recorded an average annual inflation rate of 5.86%, compared with 2.38% in the Netherlands. In 2025, inflation was 3.9% in Montenegro and 3.26% in the Netherlands.

Top exports between countries

Montenegro
Export category Export value
Transport & tourism services $36.8M
Business & finance services $5.41M
Raw materials & minerals $1.14M
IT & IP services $1.08M
Machinery & equipment $1.02M
Textiles & consumer goods $805K
Metals $397K
Chemicals & pharma $57K
Raw agricultural goods $19K
Processed food, beverages & tobacco $6K
Netherlands
Export category Export value
Animal & marine products $31.8M
Machinery & equipment $23.8M
Raw agricultural goods $8.1M
Chemicals & pharma $6.14M
Processed food, beverages & tobacco $5.55M
Textiles & consumer goods $2.85M
Miscellaneous $1.26M
Metals $856K
Raw materials & minerals $452K
Precious metals & jewellery $182K

Balance of trade

Montenegro Netherlands
Current account balance
-$1.88B
2025
$111B
2024
Current account balance ranking
140/190
2025
6/190
2024
Current account balance, % of GDP
-20.4%
2025
+9.14%
2024
Goods imports
$4.91B
2025
$606B
2024
Goods exports
$663M
2025
$693B
2024
Service imports
$1.24B
2025
$262B
2024
Service exports
$3.07B
2025
$308B
2024
Imports of goods and services, % of GDP
65.7%
2025
69.5%
2025
Exports of goods and services, % of GDP
40.1%
2025
80.7%
2025

Economic freedom indices

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

Montenegro Netherlands
Economic freedom 63.8 78.5
Economic freedom ranking 78/197 11/197
Property rights 60.9 96
Government integrity 49.9 86.8
Judicial effectiveness 51.5 96.1
Tax burden 88.7 54
Government spending 47.6 42.2
Fiscal health 86.2 95.9
Business freedom 68.4 85
Labor freedom 59.4 59.3
Monetary freedom 75.2 77
Trade freedom 78.4 79.4
Investment freedom 50 90
Financial freedom 50 80

Economic freedom comparison by year

Montenegro
Netherlands
1x
Year Economic freedom index
Montenegro Netherlands
2026 63.8 78.5
2025 63.8 78.2
2024 59.7 77.3
2023 60.9 78
2022 57.8 79.5
2021 63.4 76.8
2020 61.5 77
2019 60.5 76.8
2018 64.3 76.2
2017 62 75.8
2016 64.9 74.6
2015 64.7 73.7
2014 63.6 74.2
2013 62.6 73.5
2012 62.5 73.3
2011 62.5 74.7
2010 63.6 75
2009 58.2 77
2008 - 77.4
2007 - 75.5
2006 - 75.4
2005 - 72.9
2004 - 74.5
2003 43.5 74.6
2002 46.6 75.1
2001 - 73
2000 - 70.4
1999 - 70.2
1998 - 69.2
1997 - 70.4
1996 - 69.7

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Montenegro is 63.8, ranking 78/197, compared to 78.5 for the Netherlands, ranking 11/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Montenegro Netherlands
Services, % of GDP
63.4%
2025
70.4%
2025
Industry, % of GDP
11.3%
2025
17.7%
2025
Agriculture, forestry, and fishing, % of GDP
3.37%
2025
1.68%
2025
GNI, Atlas method
$8.82B
2025
$1.24T
2025
GNI per capita, PPP
$35,700
2025
$85,480
2025
Total reserves including gold
$2.2B
2025
$118B
2025
Total reserves ranking
126/177
2025
27/177
2025
Net foreign direct investment
-$601M
2025
$11.1B
2024
Net inflows of foreign direct investment
$599M
2024
-$17.1B
2024
Net outflows of foreign direct investment
$67.8M
2024
-$5.93B
2024
Servicing debt to the IMF, % of GNI
15%
2024
n/a
Poverty at national poverty lines
20%
2023
14.5%
2021
Gross capital formation, % of GDP
26.9%
2025
19.8%
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/montenegro/netherlands | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2023–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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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.