Markets Actual Q1 Q2 Q3 Q4 2020
Currency 1.14 1.13 1.13 1.12 1.12 1.1
Stock Market (points) 12247.14 11600 11600 11600 11600 11000
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 5.00 2.7 2.5 2.6 2.8 2.9
Unemployment Rate (%) 18.49 18.4 18.2 18.8 17 16.5
Inflation Rate (%) 1.60 2.6 2.7 2.9 2.8 2.7
Inflation Rate Mom (%) -0.60 0.2 0.1 0.2 0.1 0.4
Balance of Trade (EUR Thousand) -162776.00 -169000 -187700 -171626 -211000 -193700
Current Account to GDP (%) -19.10 -16 -16 -16 -16 -12
Government Debt to GDP (%) 62.50 68.7 68.7 68.7 68.7 70.2
Government Budget (% of GDP) -2.00 -4.8 -4.8 -4.8 -4.8 -3.2
Corporate Tax Rate (%) 9.00 9 9 9 9 9
Personal Income Tax Rate (%) 9.00 9 9 9 9 9
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 5.00 2.7 2.5 2.6 2.8 2.9
GDP (USD Billion) 4.77 6.2 6.2 6.2 6.2 6.9
GDP Constant Prices (EUR Million) 1487.03 824 1071 1506 1529 1573
GDP per capita (USD) 7812.95 8250 8250 8250 8250 8450
GDP per capita PPP (USD) 16409.29 16850 16850 16850 16850 17200
Gross Fixed Capital Formation (EUR Thousand) 318354.00 266890 352499 352673 357892 368271
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 18.49 18.4 18.2 18.8 17 16.5
Wages (EUR/Month) 769.00 782 766 766 790 800
Population (Million) 0.62 0.62 0.62 0.62 0.62 0.63
Wages In Manufacturing (EUR/Month) 606.00 660 622 623 670 690
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 1.60 2.6 2.7 2.9 2.8 2.7
Inflation Rate Mom (%) -0.60 0.2 0.1 0.2 0.1 0.4
Consumer Price Index CPI (Index Points) 104.60 107 108 108 108 111
Producer Prices (Index Points) 165.90 169 169 168 170 174
Harmonised Consumer Prices (Index Points) 105.20 108 109 109 108 111
Producer Prices Change (%) 2.40 2.2 2.1 2 2.2 2.4
Food Inflation (%) 1.50 2.5 2.2 2.28 2.28 2.28
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (EUR Thousand) -162776.00 -169000 -187700 -171626 -211000 -193700
Current Account to GDP (%) -19.10 -16 -16 -16 -16 -12
Imports (EUR Thousand) 199979.53 203700 217900 203992 234100 236200
Exports (EUR Thousand) 37203.00 34700 30200 32367 40100 42500
Tourist Arrivals 39580.00 34800 68500 67100 38800 44500
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 62.50 68.7 68.7 68.7 68.7 70.2
Government Budget (% of GDP) -2.00 -4.8 -4.8 -4.8 -4.8 -3.2
Government Budget Value (EUR) -25335453.29 -124520603 -124209070 -124255227 -124248618 -124249431
Government Spending (EUR Thousand) 196746.00 168037 199856 200051 200440 206253
Taxes Actual Q1 Q2 Q3 Q4 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 Q1 Q2 Q3 Q4 2020
Industrial Production (%) 18.20 8 5 4 4.5 2.5
Consumer Actual Q1 Q2 Q3 Q4 2020
Retail Sales Yoy (%) 4.50 3.5 3 2.7 3 2
Consumer Spending (EUR Thousand) 846527.00 708569 844090 844507 857004 881857
Retail Sales Mom (%) -8.70 3.8 3.9 -3.8 13 13
Gasoline Prices (USD/Liter) 1.37 1.29 1.26 1.23 1.2 1.2


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.