Montenegro:
Economy

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Other pages in this profile of Montenegro:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition Montenegro severed its economy from federal control and from Serbia during the MILOSEVIC era and maintained its own central bank, used the euro instead of the Yugoslav dinar as official currency, collected customs tariffs, and managed its own budget. The dissolution of the loose political union between Serbia and Montenegro in 2006 led to separate membership in several international financial institutions, such as the European Bank for Reconstruction and Development. On 18 January 2007, Montenegro joined the World Bank and IMF. Montenegro is pursuing its own membership in the World Trade Organization as well as negotiating a Stabilization and Association agreement with the European Union in anticipation of eventual membership. Severe unemployment remains a key political and economic problem for this entire region. Montenegro has privatized its large aluminum complex - the dominant industry - as well as most of its financial sector, and has begun to attract foreign direct investment in the tourism sector.
GDP (purchasing power parity)	Definition - World rank and map $5.918 billion (2007 est.)
GDP (official exchange rate)	Definition $2.974 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 7.5% (2007 est.)
GDP - per capita	Definition - World rank and map $3,800 (2005 est.)
GDP - composition by sector	Definition agriculture: NA% industry: NA% services: NA%
Labor force	Definition 259,100 (2004)
Labor force - by occupation	Definition agriculture: 2% industry: 30% services: 68% (2004 est.)
Unemployment rate	Definition - World rank and map 14.7% (2007 est.)
Population below poverty line	Definition 7% (2007 est.)
Distribution of family income - Gini index	Definition - World rank and map 30 (2003)
Inflation rate (consumer prices)	Definition - World rank and map 3.4% (2007)
Investment (gross fixed)	Definition - World rank and map 30.5% of GDP (2006 est.)
Budget	Definition revenues: NA expenditures: NA
Public debt	Definition - World rank and map 38% of GDP (2006)
Agriculture - products	Definition grains, tobacco, potatoes, citrus fruits, olives, grapes; sheepherding; commercial fishing negligible
Industries	Definition steelmaking, aluminum, agricultural processing, consumer goods, tourism
Electricity - production	Definition - World rank and map 2.864 billion kWh (2005 est.)
Electricity - consumption	Definition - World rank and map 18.6 million kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 27.5 kWh (2005)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 0 bbl/day (2004)
Oil - consumption	Definition - World rank and map 450 bbl/day (2004)
Oil - consumption per 1,000 people	Definition - World rank and map 0.7 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 0 bbl (1 January 2006 est.)
Natural gas - consumption	Definition - World rank and map NA cu m
Current account balance	Definition - World rank and map $NA
Exports	Definition - World rank and map $171.3 million (2003)
Exports - partners	Definition Switzerland 83.9%, Italy 6.1%, Bosnia and Herzegovina 1.3% (2006)
Imports	Definition - World rank and map $601.7 million (2003)
Imports - partners	Definition Greece 10.2%, Italy 10.2%, Germany 9.6%, Bosnia and Herzegovina 9.2% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $NA
Debt - external	Definition - World rank and map $650 million (2006)
Market value of publicly traded shares	Definition $NA
Economic aid - recipient	Definition $NA
Currency (code)	Definition euro (EUR)
Exchange rates	Definition euros per US dollar - 0.7345 (2007), 0.7964 (2006), 0.8041 (2005), 0.8054 (2004), 0.886 (2003)
Fiscal year	Definition calendar year

Montenegro: Economy

Montenegro:
Economy