SEE Business Doing Business in South East Europe Markets - Serbia Montenegro Croatia Bosnia H Macedonia

In Montenegro, real GDP rose by 6.5% in 2006 despite the weak annual industrial production (1%), notably due to problems in the coal mine, the thermoelectric power plant and the steelworks. Tourism, construction and financial sectors were the most dynamic factors of the economic growth. The consolidated budget recorded a surplus of 1.1% of GDP, while public debt decreased to 35.6% of GDP and the external debt reached 25.6% of GDP.

The current account deficit widened in 2006 to EUR 512 million (23.7% of GDP). The major factor for the gap widening was the significant and growing trade deficit, fuelled by the low competitiveness of the economy, and the increased demand for imported products consequence of the strong investment activity and rapid credit growth. Net foreign direct investment (FDI) reached EUR 466.7 million, reflecting the surge of investments, notably on tourism and real estate.

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Electricity and Gas Montenegro

 

 

The WTO accession process will require further reforms. To that end the Montenegrin authorities established new centres for metrology, standardisation and intellectual property, which should also serve the purpose of alignment of Montenegro's foreign trade regime and customs policy with the EU requirements.