Industrial production in Montenegro declined 20.1 percent year-on-year in March 2019, following a 12.8 percent fall in the previous month. It was the biggest decrease in industrial output since June 2014, as manufacturing production dropped (-4.1 percent compared to 5.6 percent in February) and electricity, gas, steam & air conditioning supply output fell further (-38.3 percent compared to -27.9 percent). On the other hand, mining & quarrying output went up at a faster pace (30.8 percent compared to 10.9 percent). On a monthly basis, industrial production rose 2.1 percent, easing from an 8.9 percent gain in the prior month. Industrial Production in Montenegro averaged 0.79 percent from 2009 until 2019, reaching an all time high of 91 percent in March of 2010 and a record low of -51.40 percent in August of 2009.
Industrial Production in Montenegro is expected to be 5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Montenegro to stand at 4.50 in 12 months time. In the long-term, the Montenegro Industrial Production is projected to trend around 2.50 percent in 2020, according to our econometric models.