Markets Actual Q3 Q4 Q1 Q2 2021
Stock Market (points) 10327.97 10185 10045 9907 9769 9494
Currency 1.13 1.13 1.12 1.12 1.11 1.11

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Annual Growth Rate (%) 2.70 -4.8 -2.4 1.7 4 3
Unemployment Rate (%) 18.19 19.5 21 21.5 19 18
Inflation Rate (%) -1.00 0.3 1 1 1.8 1.6
Inflation Rate Mom (%) 0.10 0.1 0.4 0.4 0.4 0.4
Balance of Trade (EUR Thousand) -141542.75 -194000 -193700 -193700 -193700 -193700
Current Account to GDP (%) -18.50 -18.2 -18.2 -16.1 -16.1 -16.1
Government Debt to GDP (%) 62.27 70 70 73 73 73
Government Budget (% of GDP) -2.00 -4.9 -4.9 -5.6 -5.6 -5.6
Corporate Tax Rate (%) 9.00 9 9 9 9 9
Personal Income Tax Rate (%) 9.00 9 9 9 9 9

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Annual Growth Rate (%) 2.70 -4.8 -2.4 1.7 4 3
GDP (USD Billion) 5.49 4.8 4.8 5.1 5.1 5.1
GDP Constant Prices (EUR Million) 909.54 1564 1183 925 946 1218
GDP per capita (USD) 8245.68 7500 7500 8000 8000 8000
GDP per capita PPP (USD) 17278.06 17800 17800 17800 16405 18000
Gross Fixed Capital Formation (EUR Thousand) 331525.00 323562 323568 337161 344786 333275

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 18.19 19.5 21 21.5 19 18
Wages (EUR/Month) 773.00 790 800 800 800 800
Population (Million) 0.62 0.62 0.62 0.62 0.62 0.62
Wages In Manufacturing (EUR/Month) 632.00 670 690 690 690 690

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) -1.00 0.3 1 1 1.8 1.6
Inflation Rate Mom (%) 0.10 0.1 0.4 0.4 0.4 0.4
Consumer Price Index CPI (points) 105.30 105 107 106 107 108
Producer Prices (points) 168.50 172 172 170 170 174
Harmonised Consumer Prices (points) 105.20 108 111 111 111 114
Producer Prices Change (%) 0.30 1.3 1 1 1 1.3
Food Inflation (%) 1.30 2.28 2.28 2.28 2.28 2.28

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (EUR Thousand) -141542.75 -194000 -193700 -193700 -193700 -193700
Current Account to GDP (%) -18.50 -18.2 -18.2 -16.1 -16.1 -16.1
Imports (EUR Thousand) 160335.00 234100 236200 236200 236200 236200
Exports (EUR Thousand) 18792.00 40100 42500 42500 42500 42500
Tourist Arrivals 1658.00 38800 44500 44500 44500 44500

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 62.27 70 70 73 73 73
Government Budget (% of GDP) -2.00 -4.9 -4.9 -5.6 -5.6 -5.6
Government Budget Value (EUR) 2963957.61 -124248618 -124249431 -124249431 -124249431 -124249431
Government Spending (EUR Thousand) 196526.00 191805 191809 199867 204387 197564

Taxes Actual Q3 Q4 Q1 Q2 2021
Corporate Tax Rate (%) 9.00 9 9 9 9 9
Personal Income Tax Rate (%) 9.00 9 9 9 9 9
Sales Tax Rate (%) 21.00 21 21 21 21 21
Social Security Rate (%) 34.30 34.3 34.3 34.3 34.3 34.3
Social Security Rate For Companies (%) 10.30 10.3 10.3 10.3 10.3 10.3
Social Security Rate For Employees (%) 24.00 24 24 24 24 24

Business Actual Q3 Q4 Q1 Q2 2021
Industrial Production (%) 12.90 -30 -11 5.5 6.8 6.5

Consumer Actual Q3 Q4 Q1 Q2 2021
Retail Sales Yoy (%) -19.10 -5 -3.5 2.8 4.3 6.1
Consumer Spending (EUR Thousand) 883196.00 861982 861999 898210 918524 887859
Retail Sales Mom (%) 14.20 -15 15.5 12 9 14.4
Gasoline Prices (USD/Liter) 1.21 1.15 1.09 1.04 0.99 0.94
Consumer Credit (EUR Thousand) 1373894.00 1287289 1325152 1393604 1421416 1364907


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.