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Economy of Montenegro vs North Korea compared: GDP & Debt

Updated on by Georank team

Montenegro has a GDP of $8.27B compared to $34.9B for North Korea, ranking 155/197 and 106/197 by economy size, respectively.

Montenegro vs North Korea GDP by year

Montenegro
North Korea
1x
Year GDP, current $
Montenegro North Korea
2024 $8,270,016,671 $34,943,120,000
2023 $7,644,389,160 $32,155,360,000
2022 $6,251,215,144 $28,971,360,000
2021 $5,823,715,810 $32,301,720,000
2020 $4,723,571,498 $27,728,240,000
2019 $5,483,476,883 $28,222,880,000
2018 $5,433,467,175 $28,536,400,000
2017 $4,803,962,016 $29,105,440,000
2016 $4,357,469,330 $28,882,640,000
2015 $4,010,885,991 $30,723,030,000
2014 $4,579,636,602 $30,554,460,000
2013 $4,422,097,763 $30,588,922,000
2012 $4,071,829,462 $29,890,710,000
2011 $4,507,126,949 $29,005,020,000
2010 $4,136,936,189 $25,995,513,000
2009 $4,142,640,317 $23,356,470,000
2008 $4,540,861,726 -
2007 $3,677,910,895 -
2006 $2,717,702,923 -
2005 $2,257,174,481 -
2004 $2,073,234,418 -
2003 $1,707,710,053 -
2002 $1,284,685,051 -
2001 $1,159,869,246 -
2000 $984,293,044 -
1999 $828,950,327 -
1998 $854,261,161 -
1997 $838,288,806 -

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/montenegro/north-korea | CC BY

GDP per capita in Montenegro vs North Korea by year

Montenegro
GDP per capita

GDP per capita, PPP
North Korea
GDP per capita

GDP per capita, PPP
1x
Year Current $
Montenegro North Korea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,263 $34,063 $1,319 -
2023 $12,260 $31,863 $1,217 -
2022 $10,025 $28,050 $1,100 -
2021 $9,317 $23,690 $1,231 -
2020 $7,539 $20,625 $1,061 -
2019 $8,749 $23,706 $1,084 -
2018 $8,674 $21,084 $1,100 -
2017 $7,674 $19,357 $1,127 -
2016 $6,968 $18,030 $1,124 -
2015 $6,421 $16,092 $1,201 $1,700
2014 $7,342 $15,276 $1,201 $1,800
2013 $7,103 $14,692 $1,208 -
2012 $6,552 $13,793 $1,186 -
2011 $7,266 $14,347 $1,156 $1,800
2010 $6,679 $13,612 $1,040 -
2009 $6,700 $12,976 $939 $1,800
2008 $7,360 $13,802 - $1,800
2007 $5,972 $12,452 - $1,700
2006 $4,419 $10,440 - $1,800
2005 $3,675 $8,314 - $1,700
2004 $3,380 $7,841 - $1,700
2003 $2,789 $7,340 - $1,300
2002 $2,107 $7,100 - $1,000
2001 $1,910 $6,772 - -
2000 $1,627 $6,004 - $1,000
1999 $1,368 $5,684 - $1,000
1998 $1,406 $6,170 - -
1997 $1,375 $5,798 - -

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); Central Intelligence Agency (CIA) (1999–2015, retrieved 2026-02-20).

GeoRank.org/economy/montenegro/north-korea | CC BY

Montenegro's GDP per capita is $13,263, ranking 77/197, compared to $1,319 in North Korea, ranking 168/197. Adjusted for purchasing power (GDP per capita PPP), Montenegro ranks 65th at $34,063, while North Korea ranks 193rd at $1,700.

Economic indicators

Montenegro North Korea
Gross domestic product
$8.27B
2024
$34.9B
2024
GDP rank
155/197
2024
106/197
2024
GDP growth
3.16%
2023-2024
n/a
GDP per capita
$13,263
2024
$1,319
2024
GDP per capita rank
77/197
2024
168/197
2024
GDP per capita, PPP
$34,063
2024
$1,700
2015
GDP per capita PPP rank
65/197
2024
193/197
2015
Government debt
$5.02B
2024
n/a
Debt-to-GDP ratio
60.8%
2024
n/a
Government debt per person
$8,058
2024
n/a
Government debt per person rank
64/185
2024
n/a
Average annual personal income after taxes
$11,119
2026
$1,426
2026
Market capitalization of domestic companies
$3.79B
2012
n/a
Income share by richest 10%
24.7%
2021
n/a
Income share by poorest 10%
2.1%
2021
n/a
Government expenditure, % of GDP
43.5%
2024
n/a
Consumer prices inflation
3.3%
2023-2024
n/a
Unemployment rate
13.1%
2023
25.6%
2013
Population
612312
26659144

Top exports between countries

Montenegro
Export category Export value
North Korea
Export category Export value
Machinery & equipment $31K
Raw materials & minerals $28K
Chemicals & pharma $6K
Textiles & consumer goods $4K

Balance of trade

Montenegro North Korea
Current account balance
-$1.4B
2024
n/a
Current account balance ranking
131/190
2024
n/a
Current account balance, % of GDP
-17%
2024
n/a
Goods imports
$4.29B
2024
n/a
Goods exports
$714M
2024
n/a
Service imports
$1.19B
2024
n/a
Service exports
$2.92B
2024
n/a
Imports of goods and services, % of GDP
66.2%
2024
n/a
Exports of goods and services, % of GDP
43.7%
2024
n/a

Economic freedom indices

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

Montenegro North Korea
Economic freedom 63.8 3.1
Economic freedom ranking 78/197 197/197
Property rights 60.9 16.3
Government integrity 49.9 4.3
Judicial effectiveness 51.5 6.3
Tax burden 88.7 0
Government spending 47.6 0
Fiscal health 86.2 0
Business freedom 68.4 5
Labor freedom 59.4 5
Monetary freedom 75.2 0
Trade freedom 78.4 0
Investment freedom 50 0
Financial freedom 50 0

Economic freedom comparison by year

Montenegro
North Korea
1x
Year Economic freedom index
Montenegro North Korea
2026 63.8 3.1
2025 63.8 3
2024 59.7 2.9
2023 60.9 2.9
2022 57.8 3
2021 63.4 5.2
2020 61.5 4.2
2019 60.5 5.9
2018 64.3 5.8
2017 62 4.9
2016 64.9 2.3
2015 64.7 1.3
2014 63.6 1
2013 62.6 1.5
2012 62.5 1
2011 62.5 1
2010 63.6 1
2009 58.2 2
2008 - 3
2007 - 3
2006 - 4
2005 - 8
2004 - 8.9
2003 43.5 8.9
2002 46.6 8.9
2001 - 8.9
2000 - 8.9
1999 - 8.9
1998 - 8.9
1997 - 8.9
1996 - 8.9
1995 - 8.9

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

GeoRank.org/economy/montenegro/north-korea | CC BY

The Economic Freedom Index for Montenegro is 63.8, ranking 78/197, compared to 3.1 for North Korea, ranking 197/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Montenegro North Korea
Services, % of GDP
63.8%
2024
n/a
Industry, % of GDP
12.2%
2024
n/a
Agriculture, forestry, and fishing, % of GDP
3.49%
2024
n/a
GNI, Atlas method
$7.61B
2024
n/a
GNI per capita, PPP
$33,970
2024
n/a
Total reserves including gold
$1.74B
2024
n/a
Total reserves ranking
130/177
2024
n/a
Net foreign direct investment
-$532M
2024
n/a
Net inflows of foreign direct investment
$599M
2024
$203K
1989
Net outflows of foreign direct investment
$67.8M
2024
$0
2024
Servicing debt to the IMF, % of GNI
15%
2024
n/a
Poverty at national poverty lines
20%
2023
n/a
Gross capital formation, % of GDP
25.9%
2024
n/a

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/montenegro/north-korea | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06)
  2. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  3. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  4. Central Intelligence Agency (CIA) (1999–2015, retrieved 2026-02-20)
  5. International Monetary Fund (IMF) | Fiscal Monitor (2024, retrieved 2026-02-20)
  6. TradeMap (2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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.