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
| Stat |  Montenegro |  Serbia |
|---|---|---|
| GDP | $5.5B | $50.6B |
| GDP growth, 1 year | 4.5% | 4.4% |
| GDP growth, 5-years average | 3.5% | 2% |
| Population | 622k | 7M |
| GDP per capita | $8.8k | $7.2k |
| GDP per capita growth | 5.08% | 4.97% |
| Purchasing Power Parity conversion factor | 0.36 | 41.64 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.43 | 0.42 |
| 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
| Stat | Montenegro | Serbia |
|---|---|---|
| Income Tax Rate | 9% | 10% |
| Corporate Tax Rate | 9% | 15% |
| Inflation, consumer prices | 2.6% | 2% |
| Inflation, GDP deflator | 3.2% | 2.1% |
| Unemployment | 15.5% | 13.5% |
| Economic Freedom Index | 61.5 | 66 |
| Personal Freedom Index | 8.12 | 7.84 |
| Human Freedom Index | 7.67 | 7.19 |
| Property Rights Index | 59.1 | 55.4 |
| Judical Effectiveness Index | 55.3 | 46.8 |
| Business Freedom Index | 70.8 | 72.6 |
| Fiscal Health Index | 23.4 | 94.1 |
| Labor Freedom Index | 74.8 | 66.9 |
| Investment Freedom Index | 75 | 70 |
| Financial Freedom Index | 50 | 50 |
| Trade Freedom Index | 83.8 | 78 |
| Monetary Freedom Index | 80.3 | 80.7 |
| Government Spending Index | 32.1 | 49.7 |
| Tax Burden Index | 85.4 | 83.7 |
| Government Integrity Index | 47.5 | 44 |
| Corruption Perceptions Index | 45 | 39 |
| Life expectancy at birth, years | 76.7 | 76.1 |
| Suicide mortality rate, per 100,000 people | 10.3 | 15.6 |
| Mortality caused by road traffic injury, per 100,000 people | 10.7 | 7.4 |
| Intentional homicides, per 100,000 people | 2.4 | 1.1 |
| International tourism, number of arrivals | 2.1M | 1.7M |
Government debt & reserves
| Stat | Montenegro | Serbia |
|---|---|---|
| Central government debt, % of GDP | 72.1% | 54.3% |
| External debt stocks, % of GNI | 144.1% | 71.7% |
| External debt stocks | $8B | $34.3B |
| Short-term debt, % of total reserves | 17.2% | 16.4% |
| Total debt service, % of exports and primary income | 63.7% | 22.3% |
| Adjusted net savings including particulate emission damage, % of GNI | N/A | -3.2% |
| Gross savings, % of GDP | 14.9% | 18.6% |
| Gross capital formation, % of GDP | 31.9% | 22.7% |
| Total reserves including gold | $1.2B | $12.9B |
| Foreign direct investment net inflows | $485.7M | $4.1B |
Exports, imports and economic structure
| Stat | Montenegro | Serbia |
|---|---|---|
| Exports of goods and services, % of GDP | 42.9% | 50.8% |
| Imports of goods and services, % of GDP | 66.7% | 59.3% |
| Current account balance (balance of payments) | -$943M | -$2.6B |
| Revenue excluding grants, % of GDP | N/A | 32.8% |
| Grants excluding technical cooperation, BoP | $57.7M | $334.6M |
| Personal remittances received | $588.9M | $4.3B |
| Industry including construction value added, % of GDP | 15.9% | 25.5% |
| Agriculture, forestry and fishing value added, % of GDP | 6.7% | 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 GDP | N/A | 36.9% |
| Government Expenditure, % of GDP | 47.6% | 40.9% |
