Exports in Montenegro

Montenegro Exports (EUR bn, %) | Economic News & Forecasts

Montenegro - Exports (percent change based on Euros)

With tourism revenues accounting for more than 20% of the country’s GDP, Montenegro’s economy is languishing under the global Covid-19 measures that have brought international travel to a near standstill. Moreover, merchandise exports plummeted in March on frail European demand, while remittance inflows are expected to plunge. In response to the crisis, on 24 April the cabinet approved a second EUR 75 million package that provides 70% wage subsidies to affected individuals. As Montenegro’s fiscal position has become even more precarious, S&P Global Ratings downgraded its outlook for the sovereign’s B+ credit rating to negative on 1 May. More positively, the government began to gradually reopen the economy starting 4 May, which should help revive activity.

Montenegro - Exports (EUR bn, %) Data

2014   2015   2016   2017   2018  
Exports (annual variation in %)-9.8  -7.6  6.2  9.0  14.0  

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Note: Exports, annual variation in %.

Montenegro Facts

Value Change Date
Exchange Rate1.120.65 %Dec 31

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