Montenegro Government Debt: % of GDP

2010 - 2023 | Quarterly | % | CEIC Data

Key information about Montenegro Government Debt: % of GDP

  • Montenegro Government debt accounted for 59.7 % of the country's Nominal GDP in Sep 2023, compared with the ratio of 63.1 % in the previous quarter.
  • Montenegro government debt to GDP ratio data is updated quarterly, available from Dec 2010 to Sep 2023.
  • The data reached an all-time high of 103.5 % in Dec 2020 and a record low of 40.7 % in Dec 2010.

CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling sum of quarterly Nominal GDP. The Ministry of Finance and Social Welfare provides Government Debt in EUR. The Statistical Office of Montenegro provides Nominal GDP in EUR.


Related information about Montenegro Government Debt: % of GDP

  • In the latest reports, Montenegro National Government Debt reached 4.2 USD bn in Sep 2023.
  • The country's Nominal GDP reached 1.3 USD bn in Mar 2023.

View Montenegro's Government Debt: % of GDP from Dec 2010 to Sep 2023 in the chart:

Montenegro Government Debt: % of GDP

What was Montenegro's Government Debt: % of GDP in Sep 2023?

Montenegro Government debt accounted for 59.7 % of the country's Nominal GDP in Sep 2023, compared with the ratio of 63.1 % in the previous quarter. See the table below for more data.

Last Previous Min Max Unit Frequency Range
59.7 Sep 2023 63.1 Jun 2023 40.7 Dec 2010 103.5 Dec 2020 % quarterly Dec 2010 - Sep 2023

Government Debt: % of GDP by Country Comparison

country/region Last Frequency Range
Albania (%) 57.1 Dec 2023 quarterly Sep 2010 - Dec 2023
Algeria (%) 47.6 2022 yearly 1997 - 2022
Argentina (%) 80.3 Mar 2023 quarterly Dec 2004 - Mar 2023
Armenia (%) 50.4 Dec 2023 quarterly Dec 2013 - Dec 2023
Australia (%) 38.1 2023 yearly 1999 - 2023
Austria (%) 79.7 Mar 2024 quarterly Mar 2000 - Mar 2024
Azerbaijan (%) 16.8 2021 yearly 2008 - 2021
Bahrain (%) 93.6 Dec 2023 quarterly Dec 2007 - Dec 2023
Bangladesh (%) 23.6 2023 yearly 2010 - 2023
Belarus (%) 35.9 Mar 2022 quarterly Dec 2003 - Mar 2022
Belgium (%) 105.2 Dec 2023 quarterly Dec 1980 - Dec 2023
Bolivia (%) 27.2 2014 yearly 1998 - 2014
Bosnia and Herzegovina (%) 19.1 2023 yearly 2007 - 2023
Botswana (%) 17.2 Jun 2023 quarterly Jun 2014 - Jun 2023
Brazil (%) 75.7 Mar 2024 quarterly Dec 2006 - Mar 2024
Bulgaria (%) 23.1 Dec 2023 quarterly Mar 2007 - Dec 2023
Cambodia (%) 33.7 2022 yearly 2013 - 2022
Canada (%) 69.6 2024 yearly 1962 - 2024
Chile (%) 40.1 Mar 2024 quarterly Mar 2002 - Mar 2024
China (%) 24.0 Mar 2024 quarterly Mar 2014 - Mar 2024
Colombia (%) 58.8 Dec 2023 quarterly Dec 2005 - Dec 2023
Croatia (%) 63.3 Mar 2024 quarterly Dec 1995 - Mar 2024
Cyprus (%) 76.1 Mar 2024 quarterly Dec 2010 - Mar 2024
Czech Republic (%) 43.4 Mar 2024 quarterly Mar 2000 - Mar 2024
Denmark (%) 34.3 Mar 2024 quarterly Mar 2000 - Mar 2024
Ecuador (%) 66.1 Mar 2024 quarterly Dec 2005 - Mar 2024
Egypt (%) 68.6 Jun 2020 quarterly Jun 2006 - Jun 2020
Estonia (%) 23.6 Mar 2024 quarterly Mar 2000 - Mar 2024
European Union (%) 81.7 Dec 2023 quarterly Mar 2000 - Dec 2023
Finland (%) 77.5 Mar 2024 quarterly Mar 2000 - Mar 2024
France (%) 110.6 Dec 2023 quarterly Dec 1995 - Dec 2023
Georgia (%) 39.1 Dec 2023 quarterly Mar 2006 - Dec 2023
Germany (%) 63.4 Mar 2024 quarterly Mar 2000 - Mar 2024
Ghana (%) 70.7 2022 yearly 2006 - 2022
Greece (%) 161.9 Dec 2023 quarterly Dec 1999 - Dec 2023
Hong Kong SAR, China (%) 50.2 2023 yearly 2003 - 2023
Hungary (%) 75.9 Mar 2024 quarterly Dec 1990 - Mar 2024
Iceland (%) 64.8 2023 yearly 1998 - 2023
India (%) 58.9 Mar 2024 quarterly Mar 2012 - Mar 2024
Indonesia (%) 39.1 Mar 2024 quarterly Jun 2015 - Mar 2024
Iran (%) 7.5 Dec 2023 quarterly Mar 1998 - Dec 2023
Ireland (%) 43.7 Dec 2023 quarterly Mar 2000 - Dec 2023
Israel (%) 60.3 2023 yearly 1995 - 2023
Italy (%) 137.7 Mar 2024 quarterly Dec 1995 - Mar 2024
Ivory Coast (%) 8.6 2015 yearly 1975 - 2015
Japan (%) 217.2 Mar 2024 quarterly Dec 1994 - Mar 2024
Jordan (%) 89.1 Mar 2024 quarterly Mar 2002 - Mar 2024
Kazakhstan (%) 21.5 Dec 2023 quarterly Mar 2005 - Dec 2023
Kenya (%) 68.3 Mar 2023 quarterly Dec 2009 - Mar 2023
South Korea (%) 45.7 Mar 2024 quarterly Sep 2002 - Mar 2024
Kosovo (%) 19.9 2022 yearly 2009 - 2022
Kuwait (%) 0.4 Sep 2023 quarterly Dec 2010 - Sep 2023
Kyrgyzstan (%) 45.6 Dec 2023 quarterly Mar 2011 - Dec 2023
Latvia (%) 44.5 Mar 2024 quarterly Mar 2000 - Mar 2024
Lebanon (%) 150.6 2020 yearly 1998 - 2020
Lithuania (%) 40.1 Mar 2024 quarterly Mar 2000 - Mar 2024
Luxembourg (%) 25.7 Dec 2023 quarterly Dec 1997 - Dec 2023
North Macedonia (%) 54.8 Mar 2024 quarterly Dec 2009 - Mar 2024
Malawi (%) 66.0 2014 yearly 2010 - 2014
Malaysia (%) 65.6 Mar 2024 quarterly Dec 2010 - Mar 2024
Malta (%) 50.4 Mar 2024 quarterly Dec 2000 - Mar 2024
Mauritius (%) 69.3 Dec 2023 quarterly Jun 2003 - Dec 2023
Mexico (%) 49.7 Dec 2023 quarterly Dec 2005 - Dec 2023
Moldova (%) 35.1 Mar 2024 quarterly Mar 2007 - Mar 2024
Mongolia (%) 59.4 Dec 2021 quarterly Dec 2017 - Dec 2021
Montenegro (%) 59.7 Sep 2023 quarterly Dec 2010 - Sep 2023
Morocco (%) 71.5 2022 yearly 1994 - 2022
Nepal (%) 39.9 2021 yearly 1990 - 2021
Netherlands (%) 45.3 Mar 2024 quarterly Dec 1999 - Mar 2024
New Zealand (%) 41.7 Mar 2024 quarterly Dec 2006 - Mar 2024
Nigeria (%) 49.5 Mar 2024 quarterly Dec 2010 - Mar 2024
Norway (%) 44.3 2023 yearly 1995 - 2023
Oman (%) 41.2 2022 yearly 1990 - 2022
Pakistan (%) 72.4 2023 yearly 2000 - 2023
Palestinian Territory (%) 124.5 Mar 2024 quarterly Dec 2010 - Mar 2024
Panama (%) 59.2 Mar 2024 quarterly Dec 2007 - Mar 2024
Paraguay (%) 35.7 Mar 2024 quarterly Dec 2014 - Mar 2024
Peru (%) 32.3 Mar 2024 quarterly Mar 1999 - Mar 2024
Philippines (%) 60.2 Mar 2024 quarterly Mar 1993 - Mar 2024
Poland (%) 51.4 Mar 2024 quarterly Dec 2002 - Mar 2024
Portugal (%) 100.4 Mar 2024 quarterly Dec 1995 - Mar 2024
Qatar (%) 15.0 2012 yearly 2006 - 2012
Romania (%) 51.6 Mar 2024 quarterly Dec 2011 - Mar 2024
Russia (%) 14.6 Mar 2024 quarterly Dec 2011 - Mar 2024
Saudi Arabia (%) 27.8 Mar 2024 quarterly Dec 2016 - Mar 2024
Serbia (%) 51.1 Mar 2024 quarterly Sep 2004 - Mar 2024
Singapore (%) 174.3 Mar 2024 quarterly Mar 1990 - Mar 2024
Slovakia (%) 56.0 Dec 2023 quarterly Mar 2000 - Dec 2023
Slovenia (%) 69.2 Dec 2023 quarterly Dec 1999 - Dec 2023
South Africa (%) 74.1 Mar 2024 quarterly Dec 1960 - Mar 2024
Spain (%) 109.0 Mar 2024 quarterly Mar 1995 - Mar 2024
Sri Lanka (%) 104.4 Sep 2023 quarterly Mar 2014 - Sep 2023
Sweden (%) 32.7 Dec 2023 quarterly Mar 1996 - Dec 2023
Switzerland (%) 25.3 2027 yearly 1990 - 2027
Taiwan (%) 29.7 2022 yearly 1996 - 2022
Tajikistan (%) 36.3 2021 yearly 1999 - 2021
Thailand (%) 56.0 Mar 2024 quarterly Dec 1997 - Mar 2024
Tunisia (%) 79.7 Dec 2021 monthly Apr 2011 - Dec 2021
Turkey (%) 28.5 Mar 2024 quarterly Dec 2001 - Mar 2024
Ukraine (%) 79.4 Dec 2023 quarterly Dec 2010 - Dec 2023

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Montenegro Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -0.8 Mar 2024 quarterly Dec 2012 - Mar 2024
Consolidated Fiscal Balance (USD mn) 63.959 Apr 2024 monthly Jan 2012 - Apr 2024
Tax Revenue (USD mn) 152.124 May 2024 monthly Jan 2012 - May 2024
Tax Revenue: % of GDP (%) 31.6 Mar 2024 quarterly Mar 2012 - Mar 2024
National Government Debt (USD mn) 4,219.6 Sep 2023 monthly Dec 2010 - Sep 2023
Government Debt: % of GDP (%) 59.7 Sep 2023 quarterly Dec 2010 - Sep 2023
Forecast: Government Expenditure (EUR bn) 3.984 2028 yearly 2002 - 2028
Forecast: Government Net Debt (EUR bn) 6.396 2029 yearly 2002 - 2029
Forecast: Government Revenue (EUR bn) 3.914 2029 yearly 2002 - 2029
General Govt Revenue: Cons: Taxes: Excises (EUR) 31,723,753.750 May 2024 monthly Jan 2012 - May 2024
General Govt Expenditure: Consolidated (EUR) 259,029,814.130 Apr 2024 monthly Jan 2012 - Apr 2024
General Govt Revenue: Cons: Taxes: Value Added Tax (EUR) 88,184,792.750 May 2024 monthly Jan 2012 - May 2024
General Govt Expenditure: Cons: ow Current (EUR) 237,044,567.890 Apr 2024 monthly Jan 2012 - Apr 2024
General Govt Balance: Consolidated: Deficit or Surplus (EUR) 59,640,633.540 Apr 2024 monthly Jan 2012 - Apr 2024
General Govt Revenue: Cons: Taxes (EUR) 140,725,508.580 May 2024 monthly Jan 2012 - May 2024
General Government Revenue: Consolidated (EUR) 318,670,447.670 Apr 2024 monthly Jan 2012 - Apr 2024
Gross General Government Debt: Domestic (EUR mn) 382.470 Jun 2022 monthly Dec 2010 - Jun 2022
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 1.534 2028 yearly 2003 - 2028
Trade Balance (USD mn) -296.2 May 2024 monthly Jan 2005 - May 2024
Total Exports (USD mn) 50.5 May 2024 monthly Jan 2005 - May 2024
Total Exports Growth (%) 0.2 May 2024 monthly Jan 2006 - May 2024
Aluminum: Exports (USD th) 180,096.808 2022 yearly 2008 - 2022
Exports: Medicament (USD th) 34,801.190 2022 yearly 2008 - 2022
Exports: Medicinal and Pharmaceutical Product (USD th) 28.151 2022 yearly 2008 - 2022
Total Imports (USD mn) 346.7 May 2024 monthly Jan 2005 - May 2024
Total Imports Growth (%) -2.2 May 2024 monthly Jan 2006 - May 2024
Imports: Medicament (USD th) 116,265.339 2022 yearly 2008 - 2022
Imports: Medicinal and Pharmaceutical Product (USD th) 45,821.508 2022 yearly 2008 - 2022
Total Exports to USA (USD mn) 0.258 May 2024 monthly Jan 2010 - May 2024
Total Imports from USA (USD mn) 3.282 May 2024 monthly Jan 2006 - May 2024
Total Exports to China (USD mn) 0.463 May 2024 monthly Jan 2010 - May 2024
Total Imports from China (USD mn) 37.660 May 2024 monthly Jan 2006 - May 2024
Exports (EUR th) 46,687.083 May 2024 monthly Jan 2005 - May 2024
Exports: Machinery & Transport Equipment (EUR th) 9,068.948 May 2024 monthly Mar 2009 - May 2024
Exports: Mineral Fuels, Lubricants & Related Materials (EUR th) 6,062.364 May 2024 monthly Mar 2009 - May 2024
Exports: Manufactured Goods (EUR th) 4,875.919 May 2024 monthly Mar 2009 - May 2024
Exports: Food & Live Animals (EUR th) 3,568.090 May 2024 monthly Mar 2009 - May 2024
Exports: Crude Materials: excl Fuels (EUR th) 6,962.079 May 2024 monthly Mar 2009 - May 2024
Exports: Europe: CEFTA: Serbia (EUR th) 16,717.276 May 2024 monthly Mar 2009 - May 2024
Exports: Europe: EU-28: Slovenia (EUR th) 1,681.274 May 2024 monthly Mar 2009 - May 2024
Imports: Manufactured Goods (EUR th) 48,433.907 May 2024 monthly Mar 2009 - May 2024
Imports: Miscellaneous Manufactured Goods (EUR th) 44,409.767 May 2024 monthly Mar 2009 - May 2024
Imports (EUR th) 320,692.964 May 2024 monthly Jan 2005 - May 2024
Imports: Food & Live Animals (EUR th) 62,071.069 May 2024 monthly Mar 2009 - May 2024
Imports: Machinery & Transport Equipment (EUR th) 78,407.684 May 2024 monthly Mar 2009 - May 2024
Imports: Mineral Fuels, Lubricants & Related Materials (EUR th) 33,914.717 May 2024 monthly Mar 2009 - May 2024
Imports: Europe: CEFTA: Serbia (EUR th) 55,001.236 May 2024 monthly Mar 2009 - May 2024
Imports: Europe: EU-28: Greece (EUR th) 18,301.032 May 2024 monthly Mar 2009 - May 2024
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 21.9 Mar 2024 quarterly Mar 2005 - Mar 2024
Current Account Balance (USD mn) -278.9 Mar 2023 quarterly Mar 2004 - Mar 2023
Current Account Balance: % of GDP (%) -32.1 Mar 2024 quarterly Mar 2010 - Mar 2024
Foreign Direct Investment (USD mn) 149.5 Mar 2024 quarterly Mar 2005 - Mar 2024
Foreign Direct Investment: % of GDP (%) 10.2 Mar 2024 quarterly Mar 2010 - Mar 2024
Foreign Portfolio Investment (USD mn) 736.682 Mar 2024 quarterly Mar 2005 - Mar 2024
Foreign Portfolio Investment: % of GDP (%) 50.1 Mar 2024 quarterly Mar 2010 - Mar 2024
Foreign Portfolio Investment: Equity Securities (USD mn) 112.0 Mar 2024 quarterly Mar 2007 - Mar 2024
Foreign Portfolio Investment: Debt Securities (USD mn) 37.495 Mar 2024 quarterly Mar 2007 - Mar 2024
External Debt (USD mn) 8,815.2 2022 yearly 2006 - 2022
External Debt: % of GDP (%) 141.5 2022 yearly 2006 - 2022
External Debt: Short Term (USD mn) 198.7 2022 yearly 2007 - 2022
External Debt: Short Term: % of GDP (%) 3.2 2022 yearly 2007 - 2022
Forecast: Current Account Balance (USD bn) -1.297 2028 yearly 2001 - 2028
BoP: Current Account: Goods: Export (EUR th) 120,372.138 Dec 2018 quarterly Mar 2010 - Dec 2018
BoP: Current Account: Goods: Import (EUR th) 645,611.036 Dec 2018 quarterly Mar 2010 - Dec 2018
Balance of Payments (BoP): Current Account and Capital Account (EUR th) -374,597.413 Dec 2018 quarterly Mar 2010 - Dec 2018
BoP: Financial Account: Change in Central Bank Reserves (EUR th) -9,057.098 Dec 2018 quarterly Mar 2010 - Dec 2018
Gross General Government External Debt (EUR mn) 3,613.400 Jun 2023 monthly Dec 2010 - Jun 2023
Foreign Direct Investment: Flow: Russian Federation (EUR) 27,472,844.110 2022 yearly 2001 - 2022
Foreign Direct Investment: Flow: Switzerland (EUR) 18,559,843.260 2022 yearly 2001 - 2022
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 5.1 Feb 2024 monthly Aug 2010 - Feb 2024
Household Debt: % of GDP (%) 25.0 Mar 2024 quarterly Dec 2010 - Mar 2024
Non-Performing Loans (USD mn) 218.559 Nov 2022 monthly Dec 2010 - Nov 2022
M2 Growth (%) 12.0 2023 yearly 2003 - 2023
Reserve Requirement Ratio (%) 5.5 Mar 2024 monthly Jan 2002 - Mar 2024
Foreign Exchange Reserves (USD mn) 1,678.1 May 2024 monthly Dec 2002 - May 2024
Foreign Exchange Reserves: % of GDP (%) 24.889 Mar 2024 quarterly Dec 2010 - Mar 2024
Foreign Exchange Reserves: Months of Import (NA) 4.8 May 2024 monthly Jan 2005 - May 2024
Gold Reserves (USD mn) 0.000 May 2024 monthly Dec 2002 - May 2024
Total Deposits (USD mn) 5,791.617 May 2024 monthly Jan 2003 - May 2024
Total Deposits Growth (%) 2.8 May 2024 monthly Jan 2004 - May 2024
Domestic Credit (USD mn) 3,456.4 May 2024 monthly Jan 2005 - May 2024
Domestic Credit Growth (%) -3.7 May 2024 monthly Jan 2006 - May 2024
Household Debt (USD mn) 1,943.1 May 2024 monthly Dec 2004 - May 2024
Total Loans (USD mn) 4,752.825 May 2024 monthly Jan 2003 - May 2024
Total Loans Growth (%) 13.39 May 2024 monthly Jan 2004 - May 2024
Private Debt: % of Nominal GDP (%) 44.10 Mar 2024 quarterly Dec 2010 - Mar 2024
Bank Loans: Non Performing Loans (EUR th) 200,600.000 Apr 2018 monthly Dec 2010 - Apr 2018
Bank Loans: Residents: Households (EUR th) 1,188,990.000 Jun 2018 monthly Jan 2009 - Jun 2018
ME: Bank Non-Performing Loans to Total Gross Loans (%) 7.426 2018 yearly 2013 - 2018

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