Montenegro's external debt stocks, total (DOD, current US$) was US$8.74 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 29.32% from US$6.76 billion in 2014 (2.6% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$8.74 billion | 2024 |
| Five years earlier | US$8.44 billion | 2019 |
| Ten years earlier | US$6.76 billion | 2014 |
| Highest | US$10.52 billion | 2020 |
| Lowest | US$879.83 million | 2006 |
| Average since 2015 | US$8.32 billion | 2015–2024 |
| First recorded | US$879.83 million |
What the numbers say
In 2024, Montenegro's external debt stocks, total (DOD, current US$) rose 0.9% on 2023 (from US$8.66 billion to US$8.74 billion).
Across the 17 yearly changes before that (2007 to 2023), the average change was +16.9% and a typical year strayed about 26.8% from that (the standard deviation). This year's change was 0.6 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 91.1% in 2010 and the biggest yearly fall was 8.6% in 2022. 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$300.37 million a year. A straight line explains 49% 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 72nd 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$8.74 billion | 2024 |
| Upper middle income | US$6.36 trillion | 2024 |
Closest to Montenegro in the 2024 ranking
- Moldova — 68th of 118: US$10.49 billion
- Nepal — 69th of 118: US$10.15 billion
- Iran, Islamic Rep. — 70th of 118: US$9.65 billion
- Yemen, Rep. — 72nd of 118: US$7.09 billion
- Tajikistan — 73rd of 118: US$6.98 billion
- Algeria — 74th of 118: US$6.9 billion
What this measures
Total external debt is debt owed to nonresidents repayable in currency, goods, or services. Total external debt is the sum of public, publicly guaranteed, and private nonguaranteed long-term debt, use of IMF credit, and short-term debt. Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. Data are in current U.S. dollars.
Regional and income-group figures are computed by the World Bank as a sum.
All 19 values
| Year | External debt stocks, total (DOD, current US$) |
|---|---|
| 2024 | 8,741,348,456 |
| 2023 | 8,664,556,534 |
| 2022 | 8,806,406,768 |
| 2021 | 9,637,917,250 |
| 2020 | 10,523,512,118 |
| 2019 | 8,438,759,319 |
| 2018 | 8,107,921,805 |
| 2017 | 7,292,384,357 |
| 2016 | 6,277,162,867 |
| 2015 | 6,674,238,727 |
External debt stocks, total (DOD, current US$) in nearby economies
- Albania — US$10.71 billion (2024)
- Armenia — US$16.4 billion (2024)
- Azerbaijan — US$12.2 billion (2024)
- Belarus — US$34.22 billion (2024)
- Bosnia and Herzegovina — US$13.89 billion (2024)
- Bulgaria — US$47.21 billion (2022)
- Georgia — US$25.16 billion (2024)
- Kazakhstan — US$167.54 billion (2024)
- Kosovo — US$4.4 billion (2024)
- Kyrgyz Republic
More economic policy & debt data for Montenegro
- Adjusted savings, mineral depletion (current US$) — 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 $)
Reading data like this
Questions people ask
- What is Montenegro's external debt stocks, total (DOD, current US$)?
- US$8.74 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2006?
- It is up 893.53% from US$879.83 million in 2006 (13.61% a year on average, compounded). The highest value was US$10.52 billion in 2020 and the lowest US$879.83 million in 2006.
- How does Montenegro rank?
- 72nd highest of 118 economies with data for 2024.
- Is the latest change in external debt stocks, total (DOD, current US$) unusual for Montenegro?
- In 2024, Montenegro's external debt stocks, total (DOD, current US$) rose 0.9% on 2023 (from US$8.66 billion to US$8.74 billion). Across the 17 yearly changes before that (2007 to 2023), the average change was +16.9% and a typical year strayed about 26.8% from that (the standard deviation). This year's change was 0.6 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.DECT.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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