Remittance inflows to GDP in Montenegro
Montenegro: Remittance inflows to GDP was 12.6% in 2020. ▲ Rising
Remittance inflows to GDP in Montenegro, 2005–2020
Source: World Development Indicators (WDI), World Bank. Measured in %.
Analysis
Montenegro recorded 12.6% for remittance inflows to gdp in 2020. That is the highest value across all 16 years on record.
Compared with earlier readings it is up 19.2% on the previous year and up 25.1% over ten years.
Over the whole period, remittance inflows to gdp in Montenegro peaked at 12.6% in 2020 and was at its lowest, 0.0%, in 2005.
That places Montenegro 26th out of 197 countries with data for 2020, putting it in the top quarter.
The long-run direction has been consistently rising across the 16 years of available data.
Remittance inflows to GDP in Montenegro, year by year
| Year | % | Change |
|---|---|---|
| 2005 | 0.0% | — |
| 2006 | 0.0% | — |
| 2007 | 5.3% | — |
| 2008 | 6.6% | +22.9% |
| 2009 | 7.3% | +11.1% |
| 2010 | 10.0% | +37.7% |
| 2011 | 11.2% | +11.7% |
| 2012 | 12.4% | +10.7% |
| 2013 | 12.2% | -1.6% |
| 2014 | 11.8% | -3.1% |
| 2015 | 11.6% | -2.1% |
| 2016 | 11.0% | -5.2% |
| 2017 | 10.8% | -2.0% |
| 2018 | 10.7% | -0.7% |
| 2019 | 10.5% | -1.4% |
| 2020 | 12.6% | +19.2% |
Montenegro compared with similar countries
- Montenegro's 12.6% is above the median for upper middle income countries, which is 4.0%, 3.1× the median. (58 countries reporting)
- Montenegro's 12.6% is above the median for Europe & Central Asia, which is 1.5%, 8.2× the median. (50 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 3.8% | 0.0% | 7.3% | 5 |
| 2010s | 11.2% | 10.0% | 12.4% | 10 |
| 2020s | 12.6% | 12.6% | 12.6% | 1 |
Countries ranked near Montenegro
- 23 Dominica 13.5% compare
- 24 Georgia 13.3% compare
- 25 Marshall Islands 12.7% compare
- 27 Guinea-Bissau 12.2% compare
- 28 Yemen 12.0% compare
- 29 Uzbekistan 11.7% compare
More financial sector data for Montenegro
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0022 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 32.64 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 23.83 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0022 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 32.64 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is remittance inflows to gdp in Montenegro?
- Remittance inflows to gdp in Montenegro was 12.6% in 2020, according to World Development Indicators (WDI), World Bank.
- What is the highest remittance inflows to gdp recorded in Montenegro?
- The highest recorded value was 12.6% in 2020.
- What is the lowest remittance inflows to gdp recorded in Montenegro?
- The lowest recorded value was 0.0% in 2005.
- How does Montenegro rank for remittance inflows to gdp?
- Montenegro ranks 26th out of 197 countries with data for 2020.
- Is remittance inflows to gdp rising or falling in Montenegro?
- Over the last ten years it is up 25.1%. The long-run trend across the full record is rising.
- Where does this Montenegro data come from?
- The figures come from World Development Indicators (WDI), World Bank, published as part of Remittance inflows to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by nonresident workers. Data are the sum of three items defined in the fifth edition of the IMF's Balance of Payments Manual: workers' remittances, compensation of employees, and migrants' transfers. Remittances are classified as current private transfers from migrant workers resident in the host country for more than a year, irrespective of their immigration status, to recipients in their country of origin. Migrants' transfers are defined as the net worth of migrants who are expected to remain in the host country for more than one year that is transferred from one country to another at the time of migration. Compensation of employees is the income of migrants who have lived in the host country for less than a year.