Trade Balance in Montenegro
Montenegro - Trade Balance (Euros)Although the economy managed to grow at a modest pace in the first quarter, the Covid-19 outbreak and restrictions to curb its spread likely dealt a harsh blow to activity in the second quarter. Annual GDP growth eased to a four-year-low of 2.7% in Q1 (Q4 2019: +3.1% year-on-year) amid slowing private consumption and exports as the pandemic’s impact started to bite. In the second quarter, however, available data paints a discouraging picture. Tourist arrivals practically collapsed to zero in April–May due to travel restrictions and closure of borders, boding ill for the vital tourism industry which accounts for about a fifth of output. Moreover, retail sales crashed again in May despite businesses gradually resuming activity, and the unemployment rate rose to a one-and-a-half-year high that same month, suggesting private consumption reeled. Meanwhile, the country reintroduced some restrictions in late June amid a reemergence of new cases.
Montenegro - Trade Balance (EUR) Data
|Trade Balance (EUR billion)||-1.5||-1.7||-1.9||-2.0||-2.1|
5 years of economic forecasts for more than 30 economic indicators.
Montenegro Trade Balance (EUR) Chart
Source: Central Bank of Montenegro
|Exchange Rate||1.12||0.65 %||Dec 31|
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