Economy - overview:
Montenegro's economy is transitioning to a market system, but the state sector remains large and additional institutional changes are needed. The economy relies heavily on tourism and the export of refined metals. Unprofitable state-owned enterprises weigh on public finances. Montenegro severed its economy from federal control and from Serbia during the MILOSEVIC era and maintained its own central bank, adopted the Deutchmark, then the euro - rather than the Yugoslav dinar - as official currency, collected customs tariffs, and managed its own budget. The dissolution of the loose political union between Serbia and Montenegro in 2006 led to separate membership in several international financial institutions, such as the European Bank for Reconstruction and Development. In January 2007, Montenegro joined the World Bank and IMF. Montenegro is set to join the World Trade Organization in early 2012 and signed a Stabilization and Association agreement with the European Union in October 2007. The European Council (EC) granted candidate country status to Montenegro at the December 2010 session. Montenegro will begin negotiations to join the EC in 2012, if it meets the European Council conditions to fight corruption and organized crime. Unemployment and regional disparities in development are key political and economic problems. Montenegro has privatized its large aluminum complex - the dominant industry - as well as most of its financial sector, and has begun to attract foreign direct investment in the tourism sector. The global financial crisis has had a significant negative impact on the economy, due to the ongoing credit crunch, a decline in the real estate sector, and a fall in aluminum exports. In 2011, real GDP growth slowed to 1.8%.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - partners: Imports: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
NOTE: 1) The information regarding Montenegro on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Montenegro Economy 2012 information contained here. All suggestions for corrections of any errors about Montenegro Economy 2012 should be addressed to the CIA.
$6.957 billion (2011 est.)
country comparison to the world: 153
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$4.2 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
1.8% (2011 est.)
country comparison to the world: 160
[see also: GDP - real growth rate country ranks ]
$11,200 (2011 est.)
country comparison to the world: 103
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: NA%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: NA%
[see also: GDP - composition by sector - industry country ranks ]
services: NA%
[see also: GDP - composition by sector - services country ranks ]
259,100 (2004)
country comparison to the world: 167
[see also: Labor force country ranks ]
agriculture: 2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 30%
[see also: Labor force - by occupation - industry country ranks ]
services: 68% (2004 est.)
[see also: Labor force - by occupation - services country ranks ]
19.5% (2011 est.)
country comparison to the world: 160
[see also: Unemployment rate country ranks ]
6.6% (2010 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 3.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 24.1% (2008)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
24.3 (2010)
country comparison to the world: 139
[see also: Distribution of family income - Gini index country ranks ]
22% of GDP (2011 est.)
country comparison to the world: 90
[see also: Investment (gross fixed) country ranks ]
revenues: $1.7 billion
[see also: Budget revenues country ranks ]
expenditures: $1.9 billion
[see also: Budget expenditures country ranks ]
40.5% of GDP (2011 est.)
country comparison to the world: 39
[see also: Taxes and other revenues country ranks ]
-4.8% of GDP (2011 est.)
country comparison to the world: 143
[see also: Budget surplus (+) or deficit (-) country ranks ]
40% of GDP (2011 est.)
country comparison to the world: 75
note: data cover general Government Debt, and includes debt instruments issued (or owned) by Government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment. Debt instruments for the social funds are not sold at public auctions.
[see also: Public debt country ranks ]
11.3% (2011)
country comparison to the world: 197
[see also: Inflation rate (consumer prices) country ranks ]
9.53% (31 December 2010 est.)
country comparison to the world: 110
[see also: Commercial bank prime lending rate country ranks ]
$816.8 million (31 December 2008)
country comparison to the world: 151
[see also: Stock of narrow money country ranks ]
$1.406 billion (31 December 2008)
country comparison to the world: 155
[see also: Stock of broad money country ranks ]
$3.29 billion (31 December 2009)
country comparison to the world: 122
[see also: Stock of domestic credit country ranks ]
$3.604 billion (31 December 2010)
country comparison to the world: 86
[see also: Market value of publicly traded shares country ranks ]
tobacco, potatoes, citrus fruits, olives, grapes; sheep
steelmaking, aluminum, agricultural processing, consumer goods, tourism
2.66 billion kWh (2008 est.)
country comparison to the world: 129
[see also: Electricity - production country ranks ]
2.474 billion kWh (2008 est.)
country comparison to the world: 132
[see also: Electricity - consumption country ranks ]
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2009 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2010 est.)
country comparison to the world: 198
[see also: Oil - production country ranks ]
4,000 bbl/day (2010 est.)
country comparison to the world: 176
[see also: Oil - consumption country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 190
[see also: Oil - exports country ranks ]
3,149 bbl/day (2009 est.)
country comparison to the world: 170
[see also: Oil - imports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 97
[see also: Natural gas - production country ranks ]
0 cu m NA cu m (2009 est.)
country comparison to the world: 204
[see also: Natural gas - consumption country ranks ]
0 cu m (2009 est.)
country comparison to the world: 142
[see also: Natural gas - exports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 93
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2011 est.)
country comparison to the world: 165
[see also: Natural gas - proved reserves country ranks ]
-$1.022 billion (2011 est.)
country comparison to the world: 125
[see also: Current account balance country ranks ]
$600 million (2011 est.)
country comparison to the world: 165
[see also: Exports country ranks ]
Italy 27.9%, Greece 21.6%, Slovenia 11.3%, Hungary 8.5%, US 7.6%, Egypt 4.8% (2009)
$2.5 billion (2011 est.)
country comparison to the world: 153
[see also: Imports country ranks ]
Italy 17.2%, Slovenia 14.4%, Germany 9.9%, China 7.8%, Austria 7.7%, Russia 6.1%, Greece 4%, Hungary 4% (2009)
$400 million (31 December 2011)
country comparison to the world: 157
[see also: Reserves of foreign exchange and gold country ranks ]
$4.1 billion (2011 est.)
country comparison to the world: 123
[see also: Debt - external country ranks ]
euros (EUR) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12