Montenegro vs Serbia
Montenegro vs Serbia: Inflation
Inflation in 2025: 3.9% a year in Montenegro and 3.9% a year in Serbia, by IMF estimates. In 2025 the value was higher in Serbia, by 0 percentage points, or 1 times that in Montenegro.
% a year · IMF
What the numbers say
- Serbia has been higher since 2023, when it overtook Montenegro.
- In 2025, Montenegro ranked 57 and Serbia ranked 56 of 179 countries, counting from the highest.
- The IMF projection (World Economic Outlook, October 2026) puts Montenegro at 2.2% a year and Serbia at 3% a year in 2031.
Every year
% a year · IMF
| Year | Montenegro | Serbia |
|---|---|---|
| 2025 | 3.9 | 3.9 |
| 2024 | 3.3 | 4.7 |
| 2023 | 8.6 | 12.4 |
| 2022 | 13 | 12 |
| 2021 | 2.4 | 4.1 |
| 2020 | -0.3 | 1.5 |
| 2019 | 0.4 | 1.9 |
| 2018 | 2.6 | 2 |
| 2017 | 2.4 | 3.2 |
| 2016 | -0.3 | 1.1 |
| 2015 | 1.6 | 1.4 |
| 2014 | -0.7 | 2.2 |
| 2013 | 2.2 | 7.7 |
| 2012 | 4.1 | 7.3 |
| 2011 | 3.5 | 11.1 |
| 2010 | 0.4 | 6.1 |
| 2009 | 3.5 | 8.1 |
| 2008 | 9 | 12.4 |
| 2007 | 3.4 | 5.9 |
| 2006 | 2.1 | 10.7 |
| 2005 | 3.4 | 16.3 |
| 2004 | 3.1 | 10.6 |
| 2003 | 7.5 | 2.9 |
| 2002 | 19.7 | 8.9 |
| 2001 | 23.7 | 80.7 |
| 2000 | 29.9 | 70 |
| 1999 | – | 41.1 |
| 1998 | – | 30 |
IMF projection (World Economic Outlook, October 2026) · 2026–2031
| Year | Montenegro | Serbia |
|---|---|---|
| 2026 | 3.5 | 3.1 |
| 2027 | 3.3 | 4.2 |
| 2028 | 2.3 | 3.1 |
| 2029 | 2.2 | 3 |
| 2030 | 2.2 | 3 |
| 2031 | 2.2 | 3 |
Each country on its own
Good to know
- How much consumer prices rose in a year, on average.
- Source: IMF, World Economic Outlook, October 2026.
- The dashed line is the IMF projection (World Economic Outlook, October 2026), a scenario rather than a forecast.
- Ranks count the 179 countries with a value in 2025, highest first.
How the layers work, where their data comes from and what they can’t tell you: Countries through time
Montenegro vs Serbia
Health
- Life expectancyMontenegro: 77.1 years in 2023Serbia: 76.8 years in 2023
- Child mortalityMontenegro: 0.2 per 100 live births in 2024Serbia: 0.5 per 100 live births in 2024
- Infant mortalityMontenegro: 1.7 per 1,000 live births in 2023Serbia: 4.2 per 1,000 live births in 2023
- Safe drinking waterMontenegro: 85.1% in 2022Serbia: 75.1% in 2022
- DepressionMontenegro: 2.56% in 2017Serbia: 2.57% in 2017
- Suicide rateMontenegro: 9.4 per 100,000 people in 2017Serbia: 12.7 per 100,000 people in 2017
People
- PopulationMontenegro: 633,600 people in 2023Serbia: 6.77 million people in 2023
- Population growthMontenegro: 1.86% a year in 2023Serbia: -0.44% a year in 2023
- Fertility rateMontenegro: 1.8 births per woman in 2023Serbia: 1.5 births per woman in 2023
- Urban populationMontenegro: 65.6% in 2025Serbia: 62.6% in 2025
- Median ageMontenegro: 39.3 years in 2023Serbia: 43.9 years in 2023
- People aged 65 and overMontenegro: 17.5% in 2023Serbia: 22.3% in 2023
- Net migration rateMontenegro: 18.9 per 1,000 people in 2023Serbia: 0.6 per 1,000 people in 2023
Economy
Education
Politics
Conflict
Military
- Military spendingMontenegro: 1.89% of GDP in 2025Serbia: 2.76% of GDP in 2025
- Military spending in US dollarsMontenegro: $163M in 2025Serbia: $2.55B in 2025
- Military spending per personMontenegro: $277 in 2025Serbia: $414 in 2025
- Military share of state spendingMontenegro: 4.4% of government spending in 2025Serbia: 6.4% of government spending in 2025
- Armed forces personnelMontenegro: 12,000 people in 2020Serbia: 32,000 people in 2020
- National powerMontenegro: 0.01% of world capability in 2022Serbia: 0.09% of world capability in 2022
- Armed forces, share of workersMontenegro: 4.66% of the labour force in 2020Serbia: 1.01% of the labour force in 2020
- Arms importsMontenegro: 1 million TIV in 2025Serbia: 146 million TIV in 2025
- Arms exportsMontenegro: 4 million TIV in 2022Serbia: 39 million TIV in 2025