Economy of Montenegro. Statistics, Data and Indicators
Montenegro
| 40B+ | Credit rank #73 |
| N/A | Quality of life # |
| 65 | Corruption rank#60 |
| 50 | Ease of doing business#50 |
Montenegro Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 6.1 USD Billion | 2022 |
| GDP Annual Growth Rate | 6.9 % | 2Q/23 |
| GDP per capita | 7879 USD | 2022 |
| Inflation Rate YoY | 8.6 % | Aug/23 |
| Unemployment Rate | 16.2 % | Sep/23 |
| Wages | 995 EUR/Month | 1055.591 USD/Month | Aug/23 |
| Balance of Trade | -293507 EUR Thousand | -0.311 B USD | Jul/23 |
| Current Account | -277871 EUR Thousand | -0.295 B USD | 2Q/23 |
| Government Debt | 4024 EUR Million | 4.269 B USD | 2Q/23 |
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 6.1 USD Billion | 2022 |
| GDP Annual Growth Rate | 6.9 % | 2Q/23 |
| GDP per capita | 7879 USD | 2022 |
| GDP Constant Prices | 1522 EUR Million | 1.615 B USD | 2Q/23 |
| GDP per capita PPP | 22081 USD | 2022 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 69.46 % | 2022 |
| Government Budget Value | -217443984 EUR | -0.233 USD Billion | 2Q/20 |
| Government Spending | 252348 EUR Thousand | 0.268 USD Billion | 2Q/23 |
| Government Debt | 4024 EUR Million | 4.269 USD Billion | 2Q/23 |
| Government Revenues | 837077952 EUR | 897689984 USD Billion | 2Q/20 |
| Fiscal Expenditure | 1054521920 EUR | 1.131 B USD | 2Q/20 |
| Government Budget to GDP | -4.6 % | 2022 |
| Military Expenditure | 98 USD Million | 0.098 B USD | 2022 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Price Index (CPI) | 134 index points | Aug/23 |
| Export Prices | 179 index points | Jun/23 |
| Food Inflation | 10.5 % | Aug/23 |
| Gasoline Prices | 1.79 USD/Liter | Sep/23 |
| Inflation Rate YoY | 8.6 % | Aug/23 |
| Producer Prices | 201 index points | Jun/23 |
| Inflation Rate Mom | 1.7 % | Aug/23 |
| CPI Housing Utilities | 119 Index Points | Aug/23 |
| CPI Transportation | 129 Index Points | Aug/23 |
| Harmonised Consumer Prices | 136 Index Points | Aug/23 |
| Producer Prices Change | 5.5 % | Jun/23 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | -13.3 % | 2022 |
| Balance of Trade | -293507 EUR Thousand | -0.311 USD Billion | Jul/23 |
| Capital Flows | -35546 EUR Thousand | -0.038 USD Billion | 2Q/23 |
| Current Account | -277871 EUR Thousand | -0.295 USD Billion | 2Q/23 |
| Exports | 41846 EUR Thousand | 0.044 USD Billion | Aug/23 |
| Imports | 349591 EUR Thousand | 0.371 USD Billion | Aug/23 |
| Tourist Arrivals | 240754 Persons | 0.241 Million Persons | Aug/23 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Loans to Private Sector | 1244893 EUR Thousand | 1.321 USD Billion | Aug/23 |
| Foreign Direct Investment | 1151666 EUR Thousand | 1.222 B USD | 2022 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Minimum Wages | 533 EUR/Month | 565.457 USD/Month | 3Q/23 |
| Unemployment Rate | 16.2 % | Sep/23 |
| Wages | 995 EUR/Month | 1055.591 USD/Month | Aug/23 |
| Employed Persons | 253581 Person | 0.254 Million Person | Aug/23 |
| Long Term Unemployment Rate | 16 % | 4Q/20 |
| Wages in Manufacturing | 777 EUR/Month | 824.316 USD/Month | Aug/23 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 9 % | 2021 |
| Personal Income Tax Rate | 9 % | 2021 |
| Sales Tax Rate | 21 % | 2023 |
| Social Security Rate | 21.5 % | 2023 |
| Social Security Rate For Companies | 6 % | 2023 |
| Social Security Rate For Employees | 15.5 % | 2023 |
Production Indicators
| Indicator | Data | Period |
|---|---|---|
| Industrial Production | -2.7 % | Aug/23 |
| Mining Production | 3.7 % | Aug/23 |
| Industrial Production (MoM) | -0.8 % | Aug/23 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Corruption Index | 45 index points | 2022 |
| Corruption Rank | 65 place | 2022 |
| Ease of Doing Business | 50 place | 2019 |
| Manufacturing Production | -14.3 % | Aug/23 |
| Competitiveness Index | 60.82 Index Points | 2019 |
| Competitiveness Rank | 73 | 2019 |
Consumer Indicators
| Indicator | Data | Period |
|---|---|---|
| Retail Sales MoM | 4.3 % | Aug/23 |
| Retail Sales YoY | 5.3 % | Aug/23 |
| Consumer Credit | 1634134 EUR Thousand | 1.734 USD Billion | Aug/23 |
| Consumer Spending | 1027944 EUR Thousand | 1.091 USD Billion | 1Q/23 |
Housing Market
| Indicator | Data | Period |
|---|---|---|
| Construction Output | -11.8 % | 2Q/23 |
