Montenegro: Net foreign assets (current LCU)

Key figures

What the numbers say

In 2024, Montenegro's net foreign assets (current LCU) rose 316.94 million on 2023 (from 1.49 billion to 1.81 billion).

Across the 21 yearly changes before that (2003 to 2023), the average change was +64.99 million and a typical year strayed about 228.34 million from that (the standard deviation). This year's change was 1.1 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 352 million in 2009 and the biggest yearly fall was 705.39 million in 2008. 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 148.22 million a year. A straight line explains 95% 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.

A straight-line projection, tested first

Extending that straight line gives about 1.97 billion for 2027. We show this only because the same method, fitted on earlier years, predicted 2022 to 2024 better than "no change" would have: its average miss was 263.93 million, against 492.13 million for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.

See how a linear trend forecast works and the guide on forecasting without fooling yourself.

How it compares

In 2024, Montenegro had the 39th highest value of the 40 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.

Closest to Montenegro in the 2024 ranking

• Oman — 35th of 40: 7.43 billion
• Bahamas, The — 36th of 40: 2.97 billion
• Kosovo — 37th of 40: 2.4 billion
• Liberia — 39th of 40: 163.79 million
• Malawi — 40th of 40: -1.65 trillion

What this measures

Net foreign assets are the sum of foreign assets held by monetary authorities and deposit money banks, less their foreign liabilities. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

All 23 values

Net foreign assets (current LCU) in nearby economies

• Albania — 1.12 trillion (2025)
• Armenia — 305.82 billion (2025)
• Austria — 113.77 billion (2024)
• Azerbaijan — 25.43 billion (2025)
• Belarus — 11.41 billion (2021)
• Belgium — 180.33 billion (2024)
• Bosnia and Herzegovina — 23.03 billion (2025)
• Bulgaria — 46.19 billion (2024)
• Croatia — 21.73 billion (2024)
• Cyprus — 31.88 billion (2024)
• Czechia

More financial sector data for Montenegro

• GDP deflator (base year varies by country) — 175.44 (2025)
• GDP deflator, linked series (base year varies by country) — 175.44 (2025)
• DEC alternative conversion factor (LCU per US$) — US$0.89 (2025)
• Inflation, GDP deflator (annual % growth) — 4.03% (2025)
• Inflation, GDP deflator, linked series (annual % growth) — 4.03% (2025)
• Official exchange rate (LCU per US$, period average) — US$0.89 (2025)
• Domestic credit to private sector by banks (% of GDP) — 50.94% (2025)
• Broad money (current LCU) — 4.77 billion (2025)
• Broad money (% of GDP) — 58.42% (2025)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Montenegro's net foreign assets (current LCU)?

1.81 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2002?

It is up 1,363% from 123.39 million in 2002 (12.97% a year on average, compounded). The highest value was 1.81 billion in 2024 and the lowest -694.36 million in 2008.

How does Montenegro rank?

Source

World Bank, World Development Indicators, indicator FM.AST.NFRG.CN, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) 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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