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Montenegro GDP Annual Growth Rate

Montenegro's GDP annual growth rate fell to 3.04% in 2024, down from 6.34% in 2023, according to World Bank. This represents a decrease of 3.3% from the previous year. Montenegro has GDP annual growth rate lower than the global median (3.04% vs median 3.24%). Compared with the median in Europe, Montenegro is higher (3.04% vs regional median 2.10%) and ranks 15th out of 47 countries in Europe.

Montenegro's real GDP rose to $5.34 billion in 2024, up from $5.18 billion in 2023.

Yearly Historical Data (1998-2024)

(in %)
Year GDP Annual Growth Rate (%)
2024 3.04%
2023 6.34%
2022 6.41%
2021 13.04%
2020 -15.31%
2019 4.06%
2018 5.08%
2017 4.72%
2016 2.95%
2015 3.39%
2014 1.78%
2013 3.55%
2012 -2.72%
2011 3.23%
2010 2.73%
2009 -5.8%
2008 7.22%
2007 6.81%
2006 8.57%
2005 4.18%
2004 4.43%
2003 2.48%
2002 1.9%
2001 1.1%
2000 3.1%
1999 -9.4%
1998 4.9%
Montenegro GDP Annual Growth Rate : Definition
GDP Annual Growth Rate measures the yearly percentage change in Montenegro's total economic output.
Indicator Last Value Prior Value Period
GDP $8.07B $7.53B 2024
GDP per Capita $8,552.59 $8,304.26 2024
GDP per Capita PPP $27,852.04 $27,043.33 2024
R&D Expenditure (% GDP) 0.36% 0.5% 2019
Real GDP $5.34B $5.18B 2024