Montenegro's external debt stocks, private nonguaranteed (PNG) (DOD, current US$) was US$3.86 billion in 2024, the latest year in the World Bank's World Development Indicators. That is down 5.24% from US$4.08 billion in 2014 (0.54% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$3.86 billion | 2024 |
| Five years earlier | US$4.41 billion | 2019 |
| Ten years earlier | US$4.08 billion | 2014 |
| Highest | US$5.16 billion | 2020 |
| Lowest | US$9.09 million | 2008 |
| Average since 2015 | US$4.29 billion | 2015–2024 |
| First recorded | US$12.36 million |
What the numbers say
In 2024, Montenegro's external debt stocks, private nonguaranteed (PNG) (DOD, current US$) fell 11.2% on 2023 (from US$4.35 billion to US$3.86 billion).
Across the 17 yearly changes before that (2007 to 2023), the average change was +1,157% and a typical year strayed about 4,749% from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 19,585.8% in 2010 and the biggest yearly fall was 21.5% in 2007. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 there is no clear straight-line trend: a straight line explains 13% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Montenegro had the 49th highest value of the 86 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| Montenegro | US$3.86 billion | 2024 |
| Upper middle income | US$1.94 trillion | 2024 |
Closest to Montenegro in the 2024 ranking
What this measures
Private nonguaranteed external debt comprises long-term external obligations of private debtors that are not guaranteed for repayment by a public entity. Data are in current U.S. dollars.
Regional and income-group figures are computed by the World Bank as a sum.
All 19 values
| Year | External debt stocks, private nonguaranteed (PNG) (DOD, current US$) |
|---|---|
| 2024 | 3,864,380,566 |
| 2023 | 4,352,078,530 |
| 2022 | 4,462,442,344 |
| 2021 | 4,678,346,628 |
| 2020 | 5,162,008,837 |
| 2019 | 4,410,969,782 |
| 2018 | 4,431,239,545 |
| 2017 | 4,029,780,310 |
| 2016 | 3,640,033,207 |
| 2015 | 3,839,002,006 |
External debt stocks, private nonguaranteed (PNG) (DOD, current US$) in nearby economies
- Albania — US$4.03 billion (2024)
- Armenia — US$6.1 billion (2024)
- Azerbaijan — US$1.82 billion (2024)
- Belarus — US$6.63 billion (2024)
- Bosnia and Herzegovina — US$5.18 billion (2024)
- Bulgaria — US$19.39 billion (2022)
- Georgia — US$9.47 billion (2024)
- Kazakhstan — US$112.01 billion (2024)
- Kosovo
More economic policy & debt data for Montenegro
- Adjusted savings, mineral depletion (current US$) — US$651,532 (2021)
- Medium and high-tech manufacturing value added (% manufacturing value added) — 14.86% (2024)
- Adjusted savings, carbon dioxide damage (current US$) — US$105.26 million (2021)
- GDP (current US$) — US$9.23 billion (2025)
- GDP (current LCU) — 8.17 billion (2025)
- GDP, linked series (current LCU) — 8.17 billion (2025)
- GDP (constant 2015 US$) — US$5.47 billion (2025)
- GDP (constant LCU) — 4.66 billion (2025)
- GDP, PPP (current international $) — 22.07 billion (2025)
- GDP, PPP (constant 2021 international $)
Reading data like this
Questions people ask
- What is Montenegro's external debt stocks, private nonguaranteed (PNG) (DOD, current US$)?
- US$3.86 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2006?
- It is up 31,165% from US$12.36 million in 2006 (37.6% a year on average, compounded). The highest value was US$5.16 billion in 2020 and the lowest US$9.09 million in 2008.
- How does Montenegro rank?
- 49th highest of 86 economies with data for 2024.
- Is the latest change in external debt stocks, private nonguaranteed (PNG) (DOD, current US$) unusual for Montenegro?
- In 2024, Montenegro's external debt stocks, private nonguaranteed (PNG) (DOD, current US$) fell 11.2% on 2023 (from US$4.35 billion to US$3.86 billion). Across the 17 yearly changes before that (2007 to 2023), the average change was +1,157% and a typical year strayed about 4,749% from that (the standard deviation). This year's change was 0.2 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator DT.DOD.DPNG.CD, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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