Montenegro vs Serbia: Economic Indicators Comparison

Serbia with a GDP of $50.6B ranked the 84th largest economy in the world, while Montenegro ranked 153rd with $5.5B. By GDP 5-years average growth and GDP per capita, Serbia and Montenegro ranked 131st vs 67th and 90th vs 81st, respectively.

Gross Domestic Product & Income

StatMontenegroSerbia
GDP$5.5B$50.6B
GDP growth, 1 year4.5%4.4%
GDP growth, 5-years average3.5%2%
Population622k7M
GDP per capita$8.8k$7.2k
GDP per capita growth5.08%4.97%
Purchasing Power Parity conversion factor0.3641.64
Price level ratio of PPP conversion factor GDP to market exchange rate0.430.42
GDP per capita, PPP adjusted$19k$18k
GNI, Atlas method$5.2B$44.6B
GNI per capita$8.4k$6.4k
GNI, PPP adjusted$13B$115.5B
GNI per capita, PPP adjusted$21k$17k

Financial system and Human development

StatMontenegroSerbia
Income Tax Rate9%10%
Corporate Tax Rate9%15%
Inflation, consumer prices2.6%2%
Inflation, GDP deflator3.2%2.1%
Unemployment15.5%13.5%
Economic Freedom Index61.566
Personal Freedom Index8.127.84
Human Freedom Index7.677.19
Property Rights Index59.155.4
Judical Effectiveness Index55.346.8
Business Freedom Index70.872.6
Fiscal Health Index23.494.1
Labor Freedom Index74.866.9
Investment Freedom Index7570
Financial Freedom Index5050
Trade Freedom Index83.878
Monetary Freedom Index80.380.7
Government Spending Index32.149.7
Tax Burden Index85.483.7
Government Integrity Index47.544
Corruption Perceptions Index4539
Life expectancy at birth, years76.776.1
Suicide mortality rate, per 100,000 people10.315.6
Mortality caused by road traffic injury, per 100,000 people10.77.4
Intentional homicides, per 100,000 people2.41.1
International tourism, number of arrivals2.1M1.7M

Government debt & reserves

StatMontenegroSerbia
Central government debt, % of GDP72.1%54.3%
External debt stocks, % of GNI144.1%71.7%
External debt stocks$8B$34.3B
Short-term debt, % of total reserves17.2%16.4%
Total debt service, % of exports and primary income63.7%22.3%
Adjusted net savings including particulate emission damage, % of GNIN/A-3.2%
Gross savings, % of GDP14.9%18.6%
Gross capital formation, % of GDP31.9%22.7%
Total reserves including gold$1.2B$12.9B
Foreign direct investment net inflows$485.7M$4.1B

Exports, imports and economic structure

StatMontenegroSerbia
Exports of goods and services, % of GDP42.9%50.8%
Imports of goods and services, % of GDP66.7%59.3%
Current account balance (balance of payments)-$943M-$2.6B
Revenue excluding grants, % of GDPN/A32.8%
Grants excluding technical cooperation, BoP$57.7M$334.6M
Personal remittances received$588.9M$4.3B
Industry including construction value added, % of GDP15.9%25.5%
Agriculture, forestry and fishing value added, % of GDP6.7%6.3%
Charges for the use of intellectual property, payments BoP$6M$289.7M
Charges for the use of intellectual property, receipts BoP$432k$57.9M
Expense, % of GDPN/A36.9%
Government Expenditure, % of GDP47.6%40.9%

Compare with countries close by GDP per capita

Montenegro vs

CountryGDP
per capita
Population
Argentina
$12k
44.9M
Malaysia
$11k
31.6M
Russia
$11k
147M
Mauritius
$11k
1.26M
Grenada
$11k
108k
Saint Lucia
$11k
179k
Maldives
$10k
436k
Equatorial Guinea
$10k
1.27M
Nauru
$9.9k
13.7k
Kazakhstan
$9.8k
18.3M
China
$9.8k
1.41B
Mexico
$9.7k
131M
Turkey
$9.4k
82M
Bulgaria
$9.3k
7M
Brazil
$8.9k
210M
Cuba
$8.8k
11.5M
Lebanon
$8.3k
6.1M
Botswana
$8.3k
2.29M
Dominican Republic
$8.1k
10.4M
Gabon
$8k
2.03M
Dominica
$7.7k
73.9k
Saint Vincent
$7.4k
110k
Thailand
$7.3k
65.9M
Libya
$7.2k
6.68M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M

Serbia vs

CountryGDP
per capita
Population
Kazakhstan
$9.8k
18.3M
China
$9.8k
1.41B
Mexico
$9.7k
131M
Turkey
$9.4k
82M
Bulgaria
$9.3k
7M
Brazil
$8.9k
210M
Cuba
$8.8k
11.5M
Lebanon
$8.3k
6.1M
Botswana
$8.3k
2.29M
Dominican Republic
$8.1k
10.4M
Gabon
$8k
2.03M
Dominica
$7.7k
73.9k
Saint Vincent
$7.4k
110k
Thailand
$7.3k
65.9M
Libya
$7.2k
6.68M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M