Montenegro: economy

What is the inflation rate in Montenegro?

Consumer prices in Montenegro were 5.2% higher in September 2026 than a year earlier, according to the Statistical Office of Montenegro (Monstat). Prices rose 0.5% from August. The rise was driven mostly by clothing, vegetables, fuels for personal transport, footwear, solid fuels and dairy products.

For January to September 2026, prices were 3.7% higher on average than in the same period of 2025, so inflation has picked up during the year. In September alone, clothing and footwear rose 4.3% from August, while restaurants and accommodation services fell 2.2%.

Official sources: Monstat: consumer price indices, September 2026

What is Montenegro's GDP growth rate?

Montenegro's real GDP grew 3.3% in 2025, according to the Statistical Office of Montenegro (Monstat). GDP was EUR 8,269 million in 2025, compared with EUR 7,645 million in 2024.

In the first quarter of 2026, real GDP grew 2.6% year on year, to EUR 1,652.7 million, according to Monstat's preliminary quarterly estimate. Quarterly figures are preliminary and may be revised when annual accounts are compiled. The annual figures follow the European ESA 2010 methodology and combine the production and expenditure approaches.

Official sources: Monstat: gross domestic product of Montenegro 2025 · Monstat: quarterly GDP, first quarter 2026

What is Montenegro's GDP per capita?

Montenegro's GDP per capita was EUR 13,271 in 2025, up from EUR 12,260 in 2024, according to the Statistical Office of Montenegro (Monstat). In US dollars it was US$14,817 in 2025, according to World Bank data updated on 8 October 2026.

These are nominal figures, so they include the effect of price rises as well as real growth of 3.3% in 2025. Comparisons with EU countries are better made in purchasing power standards, which adjust for lower price levels: consumer prices in Montenegro were 66% of the EU average in 2025, according to Monstat, citing Eurostat.

Official sources: Monstat: gross domestic product of Montenegro 2025 · World Bank: GDP per capita, Montenegro · Monstat: comparative price levels 2025

What does Montenegro import and export?

Montenegro exported EUR 372.9 million of goods and imported EUR 2,993.6 million in January to August 2026, according to preliminary figures from the Statistical Office of Montenegro (Monstat). Exports covered only 12.5% of imports, the same as a year earlier.

The largest export group was mineral fuels, lubricants and related materials, at EUR 113.3 million, of which electricity accounted for EUR 73.6 million. The largest import group was machinery and transport equipment, at EUR 694.8 million. The figures cover goods only.

Official sources: Monstat: external trade in goods, January-August 2026

How many tourists visit Montenegro?

Tourists made 264,475 arrivals and 1,125,805 overnight stays in Montenegro's collective accommodation in August 2026, according to the Statistical Office of Montenegro (Monstat). Foreign tourists accounted for 91.4% of overnight stays.

Seaside resorts took 92.1% of overnight stays, the capital 3.6% and mountain resorts 2.8%. Collective accommodation covers hotels, holiday facilities, boarding houses, motels, resorts and hostels; it does not include private rooms and apartments, so total tourist numbers are higher.

Official sources: Monstat: arrivals and overnight stays, August 2026

Is Montenegro's economy growing?

The latest figure from the World Bank, for 2025, is 2.7%. Since 2005 it has ranged from -15.0% (2020) to 13.0% (2021). It is 20th highest of 49 in Europe & Central Asia, where the median is 2.1%. Worldwide: 109th of 180.

What is GDP per capita in Montenegro?

In 2025, GDP per person in Montenegro was $14,817, according to the World Bank. No year since 2005 has been higher. Europe & Central Asia median: $28,420; Montenegro is 35th highest of 49. Worldwide: 62nd of 180.

What is Montenegro's GDP per capita at PPP?

In 2025, GDP per person at purchasing power parity in Montenegro was $35,423 in international dollars, according to the World Bank. No year since 2005 has been higher. It is 35th highest of 49 in Europe & Central Asia, where the median is $50,946 in international dollars. Worldwide: 59th of 179.

What share of Montenegro's economy is exports?

The World Bank puts exports of goods and services in Montenegro at 40.1% of GDP in 2025. The peak was 51.3% of GDP in 2022 and the low 26.3% of GDP in 2020. It is 32nd highest of 46 in Europe & Central Asia, where the median is 47.7% of GDP. World rank, highest first: 58th of 133.

Does Montenegro earn more abroad than it spends?

According to the IMF, the current account balance in Montenegro was -20.4% of GDP in 2025, a deficit. The peak was -9.3% of GDP in 2021 and the low -49.5% of GDP in 2008. Europe & Central Asia median: -0.3% of GDP; Montenegro is 47th highest of 47. World rank, highest first: 128th of 132.

What is FDI in Montenegro?

According to the IMF, net inflows of foreign direct investment in Montenegro was 7.3% of GDP in 2025. Its high point since 2007 was 2009, at 37.3% of GDP; its low point was 2016, at 5.2% of GDP. It is 3rd highest of 49 in Europe & Central Asia, where the median is 1.9% of GDP. Of 179 countries with 2025 data, 23rd highest.

What interest rate do banks charge in Montenegro?

According to the IMF, the average bank lending rate in Montenegro was 6.3% in 2025. Since 2005 it has ranged from 5.6% (2022) to 12.4% (2005). Europe & Central Asia median: 8.0%; Montenegro is 10th highest of 17. Worldwide: 56th of 73.