Montenegro - Economic Forecasts - 2018-2020 Outlook

This page has economic forecasts for Montenegro including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Montenegro economy.


Overview Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 20.94 19.7 19.4 19 18.6 16.5 percent
Inflation Rate 2.60 3.4 3.2 3 2.5 2.7 percent
Balance of Trade -193979.00 -155702 -129685 -123529 -125253 -127498 EUR Thousand
Government Debt to GDP 63.70 66.7 66.7 66.7 66.7 70.2 percent
MARKETS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Currency 1.23
1.21 1.19 1.17 1.15 1.07
Stock Market 12247.14
points
12000 11900 11800 11600 10400
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Annual Growth Rate 4.70
percent
2.2 2.2 2 2 1.9
GDP 4.17
USD Billion
3.97 4.05 4.12 5.68 6.98
GDP Constant Prices 1351.12
EUR Million
744 986 1330 957 946
GDP per capita 7455.33
USD
7600 7600 7600 7600 7890
GDP per capita PPP 15658.11
USD
15430 15502 15574 15646 15069
Gross Fixed Capital Formation 255154.00
EUR Thousand
206163 257247 246378 244552 232792
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 20.94
percent
19.7 19.4 19 18.6 16.5
Employed Persons 177627.00
177599 177000 176457 175926 170522
Wages 768.00
EUR/Month
767 767 766 765 758
Minimum Wages 288.05
EUR/Month
288 288 288 288 288
Population 0.62
Million
0.61 0.61 0.61 0.61 0.63
Wages In Manufacturing 630.00
EUR/Month
642 648 653 658 677
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Inflation Rate 2.60
percent
3.4 3.2 3 2.5 2.7
Inflation Rate Mom 1.00
percent
0.21 0.16 0.17 0.17 0.17
Consumer Price Index CPI 103.90
Index Points
104 104 104 104 103
Producer Prices 162.20
Index Points
172 172 162 177 188
Producer Prices Change 0.10
percent
1.1 1.5 2 2.1 2.4
Food Inflation -0.50
percent
0.03 0.73 1.23 1.57 2.24
Harmonised Consumer Prices 103.70
Index Points
104 104 103 103 102
Export Prices 133.90
Index Points
131 129 127 126 123
MONEY Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Loans to Private Sector 943849.00
EUR Thousand
985553 1017106 1039255 1053429 1007768
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Balance of Trade -193979.00
EUR Thousand
-155702 -129685 -123529 -125253 -127498
Exports 36070.70
EUR Thousand
31686 32044 31651 31456 31058
Imports 230049.40
EUR Thousand
188862 160968 154643 156472 158554
Current Account -416572.31
EUR Thousand
-302530 -320683 220634 -379150 -294591
Current Account to GDP -19.10
percent
-9.8 -9.8 -9.8 -9.8 -7.5
Capital Flows -129775.68
EUR Thousand
108266 172619 13641 100504 89773
Tourist Arrivals 30668.00
29900 132200 116200 25600 30200
Terrorism Index 0.08
0.22 0.19 0.16 0.14 0.18
Foreign Direct Investment 687154.00
EUR Thousand
751722 780471 809220 837969 772261
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt to GDP 63.70
percent
66.7 66.7 66.7 66.7 70.2
Government Budget -7.20
percent of GDP
-5.4 -5.4 -5.4 -5.4 -3.2
Government Budget Value -94292007.07
EUR
-79179246 -79760438 -74416020 -73905198 -51092935
Government Spending 187043.00
EUR Thousand
160015 186661 184059 210822 204305
Government Revenues 1265995454.17
EUR
363142842 738534130 1233177015 1601992648 1495557084
Government Debt 2490.00
EUR Million
2505 2490 2487 2480 2351
Fiscal Expenditure 1360287461.24
EUR
439541814 847108786 1328900552 1736206527 1623391714
Military Expenditure 66.80
USD Million
64.04 65.8 67.55 69.31 69.95
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Industrial Production 1.50
percent
-0.07 -2.18 -1.74 -2.9 -1.1
Industrial Production Mom -1.60
percent
2.34 0.99 0.95 0.99 0.98
Manufacturing Production -10.90
percent
-1.69 0.34 0.92 1.14 1.31
Changes in Inventories -66786.00
EUR Thousand
25579 57231 -57296 -13776 -21023
Internet Speed 6689.26
KBps
6360 6392 6692 6423 5925
IP Addresses 73349.00
IP
71385 70875 70366 70133 66837
Mining Production 70.60
percent
53.45 39.81 33.46 30.51 27.91
Competitiveness Index 4.15
Points
4.12 4.12 4.12 4.12 4.19
Competitiveness Rank 77.00
76 76 76 76 63
Corruption Index 45.00
Points
43 44 44 44 43
Corruption Rank 64.00
67 63 60 57 64
Ease of Doing Business 42.00
52 49 47 45 52
CONSUMER Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Retail Sales Yoy 5.20
percent
4.67 5.09 5.64 2.7 2
Consumer Spending 801990.00
EUR Thousand
712911 787031 790326 831045 816178
Retail Sales Mom 15.80
percent
0.45 1.58 1.64 7 6
Gasoline Prices 1.53
USD/Liter
1.55 1.56 1.56 1.55 1.45
Consumer Credit 1123155.00
EUR Thousand
1130083 1130507 1125755 1116532 851705
HOUSING Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Housing Index 1142.00
EUR/SQ. METRE
1179 1201 1209 1214 1204
Construction Output 40.40
percent
28.69 22.2 18.47 15.32 15.51
Building Permits 262.00
245 244 239 243 228
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Corporate Tax Rate 9.00
percent
10 10 10 10 11
Personal Income Tax Rate 9.00
percent
9 9 9 9 9
Sales Tax Rate 21.00
percent
19 19 19 19 20
Social Security Rate 34.30
percent
34 34 34 34 34
Social Security Rate For Companies 10.30
percent
10.23 10.23 10.23 10.23 9.41
Social Security Rate For Employees 24.00
percent
23.83 23.83 23.83 23.83 23.68
CLIMATE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Precipitation 1.16
mm
89.55 94.74 76.13 120 97.14
Temperature 1.80
celsius
1.86 14.18 19.13 5.79 10.46