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 Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 19.40 19.4 19 18.6 18.4 16.5 percent
Inflation Rate 2.90 3.2 3 2.5 3 2.7 percent
Balance of Trade -185062.00 -188400 -163500 -194400 -169000 -193700 EUR Thousand
Government Debt to GDP 62.50 66.7 66.7 66.7 68.7 70.2 percent
MARKETS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Currency 1.17
1.21 1.19 1.17 1.15 1.08
Stock Market 10208.21
points
11900 11800 11600 11600 10400
GDP Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Annual Growth Rate 4.00
percent
2.2 2 2 2.6 1.9
GDP 4.17
USD Billion
4.2 4.15 5.68 6.23 6.98
GDP Constant Prices 1050.87
EUR Million
980 1365 1072 775 1123
GDP per capita 7455.33
USD
7600 7600 7600 7740 7890
GDP per capita PPP 15658.11
USD
15502 15574 15646 15303 15069
Gross Fixed Capital Formation 328043.00
EUR Thousand
282683 257711 334604 203638 350508
LABOUR Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 19.40
percent
19.4 19 18.6 18.4 16.5
Employed Persons 181260.00
182045 181629 181486 181491 181503
Wages 761.00
EUR/Month
772 776 780 782 800
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 616.00
EUR/Month
647 653 657 660 690
PRICES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Inflation Rate 2.90
percent
3.2 3 2.5 3 2.7
Inflation Rate Mom 0.10
percent
0.17 0.17 0.17 0.17 0.17
Consumer Price Index CPI 104.50
Index Points
105 106 105 107 111
Producer Prices 164.90
Index Points
164 165 166 169 173
Harmonised Consumer Prices 105.40
Index Points
106 108 106 107 112
Producer Prices Change 1.20
percent
1.5 2 2.1 2.17 2.4
Food Inflation -0.10
percent
2.47 2.98 3 2.5 3.46
Export Prices 137.50
Index Points
137 138 138 138 138
MONEY Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Loans to Private Sector 999335.00
EUR Thousand
1029260 1068982 1101567 1128271 1235967
TRADE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Balance of Trade -185062.00
EUR Thousand
-188400 -163500 -194400 -169000 -193700
Exports 35281.00
EUR Thousand
28100 32200 37800 34700 42500
Imports 220342.00
EUR Thousand
216500 195700 232200 203700 236200
Current Account -304467.52
EUR Thousand
-330000 -305282 -567140 -306092 -562372
Current Account to GDP -19.10
percent
-9.8 -9.8 -9.8 -8.7 -7.5
Capital Flows -182314.33
EUR Thousand
-157107 -257861 -380546 -275577 -315776
Tourist Arrivals 34531.00
132600 136200 34600 34800 44500
Terrorism Index 0.08
0.19 0.16 0.14 0.31 0.18
Foreign Direct Investment 659232.90
EUR Thousand
830811 856810 882808 859076 909901
GOVERNMENT Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Government Debt to GDP 62.50
percent
66.7 66.7 66.7 68.7 70.2
Government Budget -2.00
percent of GDP
-5.4 -5.4 -5.4 -5.6 -3.2
Government Budget Value -227834139.80
EUR
431210816 -47866499 -685065136 780883295 -596447470
Government Spending 249154.00
EUR Thousand
192188 188917 254137 163235 266217
Government Revenues 1785041971.06
EUR
1273582982 1273582924 1273582924 1273582924 1273582924
Government Debt 2665.27
EUR Million
2635 2663 2727 2719 2760
Fiscal Expenditure 2012876110.86
EUR
842372166 1321449424 1976603234 492699629 1870030394
Military Expenditure 71.70
USD Million
65.8 67.55 69.31 70.17 69.95
BUSINESS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Industrial Production 35.80
percent
6.2 3.8 2 2.5 2.5
Industrial Production Mom -16.30
percent
8.39 1.59 0.93 1.07 1.09
Manufacturing Production 20.20
percent
4.72 3.12 5.59 4.13 4.21
Changes in Inventories 89870.00
EUR Thousand
87459 -75046 85117 -72738 72406
Internet Speed 6689.26
KBps
6676 6676 6676 6676 6676
IP Addresses 73349.00
IP
70875 70366 70133 69859 66837
Mining Production -32.00
percent
119 70.37 88.73 84.91 84.87
Competitiveness Index 4.15
Points
4.1 4.1 4.1 4.1 4.1
Competitiveness Rank 77.00
79 79 79 79 79
Ease of Doing Business 42.00
42 42 42 42 42
Corruption Index 46.00
Points
46 46 46 46 46
Corruption Rank 64.00
64 64 64 64 64
CONSUMER Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Retail Sales Yoy 2.50
percent
3.53 3.88 2.7 3.94 2
Consumer Spending 860153.00
EUR Thousand
809573 810026 877356 718244 919059
Retail Sales Mom 11.60
percent
0.97 1.24 7 1.35 6
Gasoline Prices 1.51
USD/Liter
1.44 1.36 1.28 1.21 0.84
Consumer Credit 1166051.00
EUR Thousand
1190014 1223947 1254040 1280819 1437285
HOUSING Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Housing Index 1079.00
EUR/SQ. METRE
1085 1143 1090 1139 1107
Construction Output 46.80
percent
57.93 50.9 49.52 56.37 52.71
Building Permits 275.00
269 265 267 266 266
TAXES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Corporate Tax Rate 9.00
percent
9 9 9 10 11
Personal Income Tax Rate 9.00
percent
9 9 9 9 9
Sales Tax Rate 21.00
percent
21 21 21 20 20
Social Security Rate 34.30
percent
34.3 34.3 34.3 34 34
Social Security Rate For Companies 10.30
percent
10.3 10.3 10.3 10.3 10.3
Social Security Rate For Employees 24.00
percent
24 24 24 24 24
CLIMATE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Precipitation 1.16
mm
94.74 76.13 120 89.73 97.14
Temperature 1.80
celsius
14.18 19.13 5.79 1.86 10.46