Markets Actual Q3 Q4 Q1 Q2 2020
Currency 1.11 1.13 1.13 1.12 1.12 1.11
Stock Market (points) 11131.64 11600 11600 11600 11600 11000
Overview Actual Q3 Q4 Q1 Q2 2020
GDP Annual Growth Rate (%) 3.00 2.6 2.8 2.5 2.2 2.9
Unemployment Rate (%) 15.21 18.2 17 17 17 16.5
Inflation Rate (%) -0.10 1.5 1.8 1.7 1.6 1.8
Inflation Rate Mom (%) -0.70 0.2 0.1 0.1 0.1 0.4
Balance of Trade (EUR Thousand) -209472.26 -171626 -194000 -194000 -194000 -193700
Current Account to GDP (%) -18.50 -16 -16 -15 -15 -15
Government Debt to GDP (%) 62.27 68.7 68.7 70.2 70.2 70.2
Government Budget (% of GDP) -2.00 -4.8 -4.8 -1 -1 -1
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 2020
GDP Annual Growth Rate (%) 3.00 2.6 2.8 2.5 2.2 2.9
GDP (USD Billion) 5.45 6.2 6.2 6.9 6.9 6.9
GDP Constant Prices (EUR Million) 865.06 1506 1175 1172 887 1209
GDP per capita (USD) 8226.60 8500 8500 8900 8900 8900
GDP per capita PPP (USD) 17278.06 17500 17500 17800 17800 17800
Gross Fixed Capital Formation (EUR Thousand) 275794.00 322496 327268 326313 282689 336759
Labour Actual Q3 Q4 Q1 Q2 2020
Unemployment Rate (%) 15.21 18.2 17 17 17 16.5
Wages (EUR/Month) 770.00 766 790 790 790 800
Population (Million) 0.62 0.62 0.62 0.62 0.62 0.62
Wages In Manufacturing (EUR/Month) 586.00 622 670 670 670 690
Prices Actual Q3 Q4 Q1 Q2 2020
Inflation Rate (%) -0.10 1.5 1.8 1.7 1.6 1.8
Inflation Rate Mom (%) -0.70 0.2 0.1 0.1 0.1 0.4
Consumer Price Index CPI (Index Points) 104.90 108 108 107 107 110
Producer Prices (Index Points) 170.60 168 170 171 169 174
Producer Prices Change (%) 2.90 1.8 1.5 1.1 0.7 1
Food Inflation (%) 3.20 2.28 2.28 2.28 2.28 2.28
Trade Actual Q3 Q4 Q1 Q2 2020
Balance of Trade (EUR Thousand) -209472.26 -171626 -194000 -194000 -194000 -193700
Current Account to GDP (%) -18.50 -16 -16 -15 -15 -15
Imports (EUR Thousand) 239568.60 217900 234100 234100 234100 236200
Exports (EUR Thousand) 30096.34 30200 40100 40100 40100 42500
Tourist Arrivals 125492.00 68500 38800 38800 38800 44500
Government Actual Q3 Q4 Q1 Q2 2020
Government Debt to GDP (%) 62.27 68.7 68.7 70.2 70.2 70.2
Government Budget (% of GDP) -2.00 -4.8 -4.8 -1 -1 -1
Government Spending (EUR Thousand) 170165.00 199306 202255 201665 174419 208120
Taxes Actual Q3 Q4 Q1 Q2 2020
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 2020
Industrial Production (%) -4.80 -12 -7 2 2.5 2.8
Consumer Actual Q3 Q4 Q1 Q2 2020
Retail Sales Yoy (%) 4.40 2.7 3 3 3 2
Consumer Spending (EUR Thousand) 779403.00 857540 870230 867690 798888 895466
Retail Sales Mom (%) 4.50 -3.8 13 13 13 13
Gasoline Prices (USD/Liter) 1.47 1.3 1.27 1.24 1.32 1.24


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.