Markets Actual Q3 Q4 Q1 Q2 2022
Currency 1.18 1.17 1.17 1.16 1.16 1.14
Stock Market (points) 11035.12 10801 10551 10308 10070 9595

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Annual Growth Rate (%) -6.40 10 5.8 5.8 4 3
Unemployment Rate (%) 24.01 23 19 17.5 17.5 17
Inflation Rate (%) 2.40 2.7 3 2.9 2.5 2.5
Inflation Rate Mom (%) 0.20 0.4 0.4 0.4 0.4 0.4
Balance of Trade (EUR Thousand) -174434.00 -193700 -193700 -193700 -193700 -193700
Current Account to GDP (% of GDP) -15.00 -16.1 -16.1 -13.5 -13.5 -13.5
Government Debt to GDP (% of GDP) 74.91 95.2 95.2 85.8 85.8 85.8
Government Budget (% of GDP) -2.00 -3.6 -3.6 0.1 0.1 0.1
Corporate Tax Rate (%) 9.00 9 9 9 9 9
Personal Income Tax Rate (%) 9.00 9 9 9 9 9

GDP Actual Q3 Q4 Q1 Q2 2022
GDP Annual Growth Rate (%) -6.40 10 5.8 5.8 4 3
GDP (USD Billion) 4.78 5.62 5.62 6.08 6.08 6.08
GDP Constant Prices (EUR Million) 858.58 1066 1245 1225 908 1262
GDP per capita (USD) 7292.67 8000 8000 8000 8000 8300
GDP per capita PPP (USD) 18278.73 21100 21100 21100 21100 21400
Gross Fixed Capital Formation (EUR Thousand) 228011.00 327620 346525 330125 241236 340028

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 24.01 23 19 17.5 17.5 17
Wages (EUR/Month) 792.00 800 800 800 800 800
Minimum Wages (EUR/Month) 331.33 331 331 331 331 331
Population (Million) 0.62 0.62 0.62 0.62 0.62 0.62
Wages In Manufacturing (EUR/Month) 574.00 690 690 690 690 690

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 2.40 2.7 3 2.9 2.5 2.5
Inflation Rate Mom (%) 0.20 0.4 0.4 0.4 0.4 0.4
Consumer Price Index CPI (points) 107.10 107 113 108 109 111
Producer Prices (points) 171.40 172 173 176 176 177
Harmonised Consumer Prices (points) 107.70 111 114 114 114 114
Producer Prices Change (%) 1.00 2.2 2.5 2.5 2.5 2.5
Food Inflation (%) 2.80 1.8 2.28 2.28 2.28 2.28

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (EUR Thousand) -174434.00 -193700 -193700 -193700 -193700 -193700
Current Account to GDP (% of GDP) -15.00 -16.1 -16.1 -13.5 -13.5 -13.5
Imports (EUR Thousand) 205136.00 236200 236200 236200 236200 236200
Exports (EUR Thousand) 30702.00 42500 42500 42500 42500 42500
Tourist Arrivals (Persons) 18827.00 108000 29000 29000 29000 38500

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 74.91 95.2 95.2 85.8 85.8 85.8
Government Budget (% of GDP) -2.00 -3.6 -3.6 0.1 0.1 0.1
Government Budget Value (EUR) -217443988.18 -124249431 -124249431 -124249431 -124249431 -124249431
Government Spending (EUR Thousand) 177686.00 247373 214156 294907 187992 303754

Taxes Actual Q3 Q4 Q1 Q2 2022
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 (%) 32.30 34.3 34.3 34.3 34.3 34.3
Social Security Rate For Companies (%) 8.30 10.3 10.3 10.3 10.3 10.3
Social Security Rate For Employees (%) 24.00 24 24 24 24 24

Business Actual Q3 Q4 Q1 Q2 2022
Industrial Production (%) 9.30 6.8 6.5 6.5 6.5 6.5

Consumer Actual Q3 Q4 Q1 Q2 2022
Retail Sales Yoy (%) -6.40 4.3 6.1 6.1 6.1 5.7
Consumer Spending (EUR Thousand) 745909.00 893316 921435 922630 789172 950309
Retail Sales Mom (%) 15.10 -11 14.4 14.4 14.4 14.4
Gasoline Prices (USD/Liter) 1.55 1.47 1.4 1.33 1.26 1.2
Consumer Credit (EUR Thousand) 1404500.00 1613559 1361596 1475031 1471889 1519282


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.