Markets Actual Q1 Q2 Q3 Q4 2021
Currency 1.08 1.1 1.1 1.1 1.09 1.09
Stock Market (points) 11149.15 12000 11900 11800 11600 11200

Overview Actual Q1 Q2 Q3 Q4 2021
GDP Annual Growth Rate (%) 4.70 2.5 2.2 2.5 2.9 2.9
Unemployment Rate (%) 16.21 14.6 13.9 13.9 14.6 14.1
Inflation Rate (%) 1.00 1.1 1 1.4 1.5 1.7
Inflation Rate Mom (%) -0.10 0.1 0.1 0.1 0.4 0.4
Balance of Trade (EUR Thousand) -174616.20 -194000 -194000 -194000 -193700 -193700
Current Account to GDP (%) -18.50 -18.2 -18.2 -18.2 -18.2 -17.6
Government Debt to GDP (%) 62.27 70.2 70.2 70.2 70.2 72.3
Government Budget (% of GDP) -2.00 -2.3 -2.3 -2.3 -2.3 -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 2021
GDP Annual Growth Rate (%) 4.70 2.5 2.2 2.5 2.9 2.9
GDP (USD Billion) 5.45 5.9 5.9 5.9 5.9 6
GDP Constant Prices (EUR Million) 1602.92 876 1142 1623 1649 1697
GDP per capita (USD) 8226.60 8900 8900 8900 8900 9200
GDP per capita PPP (USD) 17278.06 17800 17800 17800 17800 18000
Gross Fixed Capital Formation (EUR Thousand) 331525.00 279244 381812 382378 388606 399876

Labour Actual Q1 Q2 Q3 Q4 2021
Unemployment Rate (%) 16.21 14.6 13.9 13.9 14.6 14.1
Wages (EUR/Month) 781.00 790 790 790 800 800
Population (Million) 0.62 0.62 0.62 0.62 0.62 0.62
Wages In Manufacturing (EUR/Month) 604.00 670 670 670 690 690

Prices Actual Q1 Q2 Q3 Q4 2021
Inflation Rate (%) 1.00 1.1 1 1.4 1.5 1.7
Inflation Rate Mom (%) -0.10 0.1 0.1 0.1 0.4 0.4
Consumer Price Index CPI (points) 105.70 106 106 106 107 109
Producer Prices (points) 169.90 171 174 172 172 174
Harmonised Consumer Prices (points) 106.50 108 108 108 111 114
Producer Prices Change (%) 1.80 2.5 2 1.3 1 1.3
Food Inflation (%) 3.20 2.28 2.28 2.28 2.28 2.28

Trade Actual Q1 Q2 Q3 Q4 2021
Balance of Trade (EUR Thousand) -174616.20 -194000 -194000 -194000 -193700 -193700
Current Account to GDP (%) -18.50 -18.2 -18.2 -18.2 -18.2 -17.6
Imports (EUR Thousand) 216615.00 234100 234100 234100 236200 236200
Exports (EUR Thousand) 41998.00 40100 40100 40100 42500 42500
Tourist Arrivals 41387.00 38800 38800 38800 44500 44500

Government Actual Q1 Q2 Q3 Q4 2021
Government Debt to GDP (%) 62.27 70.2 70.2 70.2 70.2 72.3
Government Budget (% of GDP) -2.00 -2.3 -2.3 -2.3 -2.3 -2
Government Budget Value (EUR) 2963957.61 -124248618 -124248618 -124248618 -124249431 -124249431
Government Spending (EUR Thousand) 196526.00 172294 227712 228050 231764 238485

Taxes Actual Q1 Q2 Q3 Q4 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 Q1 Q2 Q3 Q4 2021
Industrial Production (%) 10.00 2 2.5 2.5 2.8 2.8

Consumer Actual Q1 Q2 Q3 Q4 2021
Retail Sales Yoy (%) 3.50 3 3 3 2 2
Consumer Spending (EUR Thousand) 883196.00 789153 914842 916199 931120 958123
Retail Sales Mom (%) 14.40 13 13 13 13 13
Gasoline Prices (USD/Liter) 1.44 1.28 1.32 1.35 1.4 1.4
Consumer Credit (EUR Thousand) 1357738.00 1303319 1309583 1335471 1381047 1421097


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.