| People | Montenegro |
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Economy - overview:
|
Montenegro severed its economy from federal control and from Serbia during the MILOSEVIC era and maintained its own central bank, used the euro instead of the Yugoslav dinar as official currency, collected customs tariffs, and managed its own budget. The dissolution of the loose political union between Serbia and Montenegro in 2006 led to separate membership in several international financial institutions, such as the European Bank for Reconstruction and Development. On 18 January 2007, Montenegro joined the World Bank and IMF. Montenegro is pursuing its own membership in the World Trade Organization as well as negotiating a Stabilization and Association agreement with the European Union in anticipation of eventual membership. Severe unemployment remains a key political and economic problem for this entire region. Montenegro has privatized its large aluminum complex - the dominant industry - as well as most of its financial sector, and has begun to attract foreign direct investment in the tourism sector. |
GDP (purchasing power parity):
|
$26.38 billion (2006 est.) |
GDP (official exchange rate):
|
$2.27 billion (2006 est.) |
GDP - real growth rate:
|
6% (2007 est.) |
GDP - per capita (PPP):
|
$3,800 (2005 est.) |
GDP - composition by sector:
|
agriculture: NA%
industry: NA%
services: NA% |
Investment (gross fixed):
|
30.5% of GDP (2006 est.) |
Population below poverty line:
|
7% (2007 est.) |
Household income or consumption by percentage share:
|
void |
Distribution of family income - Gini index:
|
30 (2003) |
Inflation rate (consumer prices):
|
3.4% (2004) |
Labor force:
|
259,100 (2004) |
Labor force participation rate:
|
38.21 % of population |
Labor force - by occupation:
|
agriculture: 2%
industry: 30%
services: 68% (2004 est.) |
Unemployment rate:
|
14.7% (2007 est.) |
Budget:
|
revenues: NA
expenditures: NA |
Budget revenues per capita:
|
void |
Public debt:
|
38% of GDP (2006) |
Industries:
|
steelmaking, aluminum, agricultural processing, consumer goods, tourism |
Industrial production growth rate:
|
void |
Electricity - production:
|
2.864 billion kWh (2005 est.) |
Electricity - production per capita:
|
4,224 kWh per capita |
Electricity - consumption:
|
18.6 million kWh (2005) |
Electricity - consumption - per capita:
|
28 kWh per capita |
Electricity - exports:
|
0 kWh (2005) |
Electricity - imports:
|
0 kWh (2005) |
Oil - production:
|
0 bbl/day (2004) |
Oil - production per capita:
|
void |
Oil - consumption:
|
450 bbl/day (2004) |
Oil - consumption - per capita:
|
0.24 bbl/year per capita |
Oil - exports:
|
void |
Oil - imports:
|
void |
Oil - proved reserves:
|
0 bbl (1 January 2006 est.) |
Natural gas - production:
|
void |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
NA cu m |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
void |
Natural gas - imports:
|
void |
Natural gas - proved reserves:
|
void |
Agriculture - products:
|
grains, tobacco, potatoes, citrus fruits, olives, grapes; sheepherding; commercial fishing negligible |
Current account balance:
|
$NA |
Current account balance - per capita:
|
void |
Exports:
|
$171.3 million (2003) |
Exports per capita:
|
253 USD per capita |
Exports - commodities:
|
void |
Exports - partners:
|
Switzerland 83.9%, Italy 6.1%, Bosnia and Herzegovina 1.3% (2006) |
Imports:
|
$601.7 million (2003) |
Imports per capita:
|
888 USD per capita |
Imports - commodities:
|
void |
Imports - partners:
|
Greece 10.2%, Italy 10.2%, Germany 9.6%, Bosnia and Herzegovina 9.2% (2006) |
Reserves of foreign exchange and gold:
|
$NA |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$650 million (2006) |
Debt - external - per capita:
|
959 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
$NA |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$NA |
Economic aid - recipient per capita:
|
void |
Currency (code):
|
euro (EUR) |
Exchange rates:
|
euros per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003) |
Fiscal year:
|
calendar year |
|
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