Last year ended with a rebound from the year before: GDP grew 2.5% mostly because of increased investments, both public and private, and improving net exports due to a continued contribution from tourism and declining imports of goods and services. Consumption stagnated and there are few signs that it will be recovering in the medium term. As in most other countries in the Balkan region, but also elsewhere in the transition world, real growth of GDP is not expected to accelerate beyond 3%.

map Montenegro
Main Economic Indicators201120122013201420152016
Population, 1000 persons.621620622...
GDP, real change in %3.2-
GDP per capita (EUR at PPP)106001040010800...
Gross industrial production, real change in %-10.3.....
Unemployment rate - LFS, in %, average19.719.720.
Average gross monthly wages, EUR722727726...
Consumer prices, % p.a.
Fiscal balance in % of GDP-5.5-4.2-4.0...
Public debt in % of GDP46.054.058.5...
Current account in % of GDP-17.7-18.7-15.2-15.4-15.4-15.0
FDI inflow, EUR mn401482337...
Gross external debt in % of GDP32.941.144.8...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


MONTENEGRO: Slowly improving picture

Vladimir Gligorov
in: Investment to the Rescue
wiiw Forecast Report No. Spring 2014, March 2014 , pp. 77-79
Details and Buy


Monthly Report No. 11/2013

Vasily Astrov, Vladimir Gligorov, Peter Havlik, Mario Holzner and Olga Pindyuk
wiiw Monthly Report No. 11, November 2013
38 pages including 17 Tables