Montenegro's external debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) was US$4.51 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 91.14% from US$2.36 billion in 2014 (6.69% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$4.51 billion | 2024 |
| Five years earlier | US$3.71 billion | 2019 |
| Ten years earlier | US$2.36 billion | 2014 |
| Highest | US$4.83 billion | 2020 |
| Lowest | US$828.62 million | 2006 |
| Average since 2015 | US$3.66 billion | 2015–2024 |
| First recorded | US$828.62 million |
What the numbers say
In 2024, Montenegro's external debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) rose 13.7% on 2023 (from US$3.97 billion to US$4.51 billion).
Across the 17 yearly changes before that (2007 to 2023), the average change was +10.5% and a typical year strayed about 14.1% from that (the standard deviation). This year's change was 0.2 standard deviations above 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 33.6% in 2011 and the biggest yearly fall was 11% in 2021. 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 the straight-line trend is upward, about US$223.8 million a year. A straight line explains 70% of the movement over 10 observed years.
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 73rd highest value of the 118 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$4.51 billion | 2024 |
| Upper middle income | US$2.2 trillion | 2024 |
Closest to Montenegro in the 2024 ranking
- Bosnia and Herzegovina — 70th of 118: US$4.93 billion
- Madagascar — 71st of 118: US$4.77 billion
- Niger — 72nd of 118: US$4.53 billion
- Kyrgyz Republic — 74th of 118: US$4.22 billion
- Maldives — 75th of 118: US$4.12 billion
- Guinea — 76th of 118: US$4.09 billion
What this measures
Public and publicly guaranteed debt comprises long-term external obligations of public debtors, including the national government, Public Corporations, State Owned Enterprises, Development Banks and Other Mixed Enterprises, political subdivisions (or an agency of either), autonomous public bodies, and external obligations of private debtors that are guaranteed for repayment by a public entity. Data are in current U.S. dollars.
Regional and income-group figures are computed by the World Bank as a sum.
All 19 values
| Year | External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) |
|---|---|
| 2024 | 4,512,733,634 |
| 2023 | 3,968,415,762 |
| 2022 | 3,940,348,690 |
| 2021 | 4,293,876,635 |
| 2020 | 4,826,073,427 |
| 2019 | 3,708,635,216 |
| 2018 | 3,425,124,240 |
| 2017 | 2,978,416,053 |
| 2016 | 2,428,186,326 |
| 2015 | 2,555,915,386 |
External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) in nearby economies
- Albania — US$5.08 billion (2024)
- Armenia — US$6.31 billion (2024)
- Azerbaijan — US$9.48 billion (2024)
- Belarus — US$16.33 billion (2024)
- Bosnia and Herzegovina — US$4.93 billion (2024)
- Bulgaria — US$15.87 billion (2022)
- Georgia — US$9.98 billion (2024)
- Kazakhstan — US$34.03 billion (2024)
More economic policy & debt data for Montenegro
- Adjusted savings, mineral depletion (current US$) — 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 $)
Reading data like this
Questions people ask
- What is Montenegro's external debt stocks, public and publicly guaranteed (PPG) (DOD, current US$)?
- US$4.51 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2006?
- It is up 444.61% from US$828.62 million in 2006 (9.87% a year on average, compounded). The highest value was US$4.83 billion in 2020 and the lowest US$828.62 million in 2006.
- How does Montenegro rank?
- 73rd highest of 118 economies with data for 2024.
- Is the latest change in external debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) unusual for Montenegro?
- In 2024, Montenegro's external debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) rose 13.7% on 2023 (from US$3.97 billion to US$4.51 billion). Across the 17 yearly changes before that (2007 to 2023), the average change was +10.5% and a typical year strayed about 14.1% from that (the standard deviation). This year's change was 0.2 standard deviations above 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.DPPG.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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