| Economy | 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, adopted the Deutchmark, then the euro - rather than 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 and signed a Stabilization and Association agreement with the European Union in October 2007. On December 15, 2007, Montenegro submitted an EU membership application. Unemployment and regional disparities in development are key political and economic problems. 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. The global financial crisis is likely to have a significant negative impact on the economy. |
GDP (purchasing power parity):
|
$6.6 billion (2008 est.)
$6.198 billion (2007)
$5.792 billion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$9,700 (2008 est.)
$9,100 (2007 est.)
$8,400 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
|
$4.515 billion (2008 est.) |
GDP - real growth rate:
|
6.5% (2008 est.)
7% (2007 est.)
8.6% (2006 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% (2007) |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
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9.09% (31 December 2007) |
Stock of money:
|
$1.172 billion (31 December 2007) |
Stock of money - per capita:
|
1,744 USD per capita |
Stock of quasi money:
|
$1.446 billion (31 December 2007) |
Stock of quasi money - per capita:
|
2,152 USD per capita |
Stock of domestic credit:
|
$3.083 billion (31 December 2007) |
Stock of domestic credit - per capita:
|
4,587 USD per capita |
Labor force:
|
259,100 (2004) |
Labor force participation rate:
|
38.55 % 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:
|
4,261 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 (2007 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
450 bbl/day (2004) |
Oil - consumption - per capita:
|
0.24 bbl/year per capita |
Oil - exports:
|
313.6 bbl/day (2005) |
Oil - imports:
|
6,093 bbl/day (2005) |
Oil - proved reserves:
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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:
|
-$1.102 billion(2007 est.) |
Current account balance - per capita:
|
-1,639 USD per capita |
Exports:
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$171.3 million (2003) |
Exports per capita:
|
255 USD per capita |
Exports - commodities:
|
void |
Exports - partners:
|
void |
Imports:
|
$601.7 million f.o.b. (2003) |
Imports per capita:
|
896 USD per capita |
Imports - commodities:
|
void |
Imports - partners:
|
void |
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:
|
968 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$3.699 billion (31 December 2007) |
Market value of publicly traded shares - per capita:
|
5,503 USD per capita |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$NA |
Economic aid - recipient per capita:
|
void |
Currency (code):
|
euro (EUR) |
Exchange rates:
|
euros (EUR) per US dollar - 0.6827 (2008 est.), 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004) |
Fiscal year:
|
calendar year |
|
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