Montenegro Economic Outlook
January 14, 2020The economy powered ahead in the third quarter, with GDP expanding 4.7% year-on-year (Q2: +3.2% yoy). Strong growth was underpinned by a rebound in fixed investment and a greater contribution from the external sector, which received impetus from robust tourism and the recovery in electricity and gas supply. On the downside, household spending moderated notably in the quarter, in tandem with falling real wages in Q3. Turning to Q4, economic growth should remain brisk. Tourist arrivals increased at a robust pace in October–November and energy generation surged in November, likely due to initial operations of the recently completed Montenegro–Italy submarine power cable. That said, the manufacturing sector remained on feeble footing as output plunged in November.
Montenegro Economic GrowthThe economy appears poised to slow further in 2020 after a more modest outturn in 2019, but remain healthy overall. Growth will likely be weighed on by an expected slowdown in private consumption. On the upside, a recovery in the industrial sector, an improving labor market and strong tourism should buffer growth. FocusEconomics panelists expect GDP to expand 2.8% in 2020, which is unchanged from last month’s forecast. In 2021, the economy is seen growing 2.9%.
Montenegro Economy Data
5 years of Montenegro economic forecasts for more than 30 economic indicators.
Get a sample report showing our regional, country and commodities data and analysis.
|Exchange Rate||1.12||0.65 %||Dec 31|
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.