• Montenegro

    Montenegro

    DEVELOPMENT CHALLENGES 

    In 2006, Montenegro gained its independence and subsequently began a process of nation-building and structural reforms in the areas of public finances, prices and trade liberalization. Fuelled by foreign direct investment (FDI) and expansion of services in tourism, construction, retailing, banking and telecommunications, economic growth was exceptional in 2006-2008, reaching 9% annually on average. Today, Montenegro is an “upper-middle” income country with a GNI per capita of US$6,620 and is ranked 54th of 187 countries on the Human Development Index (HDI), with a “high” value of 0.771. However, the country still faces significant development challenges.

    • Poverty and inequality
    • High unemployment
    • Skills gap
    • Weak public administration capacity

    KEY TRADE ISSUES 

    • Product concentration, low productive capacity and a large trade deficit
    • Market concentration and WTO accession
    • Underdeveloped transport infrastructure
    • Cumbersome regulatory and business environment

    GOVERNMENT PRIORITIES 

    The overriding strategic goal of the Montenegro Government is to join the EU, having signed a Stabilization and Association Agreement (SAA) in March 2007 and applied for membership in December 2008. EU membership is recognized as an instrument for achieving democratic stability, economic prosperity, social protection and the fulfilment of human rights.

    The overall national priorities are expressed in the National Programme of Integration to the EU 2008-2012 (NPI). They are to:

    • Enhance sustainable economic growth, through increasing economic freedoms and strengthening the role of the private sector;
    • Build institutions and the rule of law; and
    • Improve the standard of living of citizens, through efficient education, health and social protection systems.
    • These priorities are supported by a range of sector plans for education, health, social protection and employment, defined in the Poverty Alleviation and Social Inclusion Strategy 2007-2011 (PASIS).

    More detailed information on Montenegro can be found here. 

    Trade and Tariff Graphs

    Graphs of the country’s export markets, its export performance in a key sector and tariffs exporters of a sample product face.
    Trademap sample Trademap sample: The map uses color codes to illustrate the relative size of different markets in the overall exports of the country shown in pink.
    Trademap sample Trademap sample: The vertical axis shows import values by key importing countries, while the horizontal axis shows export values by the country for the same sector. I.e. the country has gained market share in the case of an importing country at the bottom right of chart and lost market share for countries top left. The size of circles is proportional to market size.
    Market access map sample Market access map sample: The world map shows trade values and tariff levels for a key export product by importing countries. Color codes indicate protection levels. Red circles denote trade volumes.

    Trade and Investment Data

    Detailed data on the country’s export performance, key imports and foreign investment, grouped by product and service categories (HS and BOP).

    Trade Information Sources

    A listing of country specific print and online publications on trade related topics. Includes information from both ITC and external sources.

    Trade Contacts

    The most important trade contacts, including importers’ and exporters’ associations, trade support institutions, trade promotion organizations and institutions providing business development assistance.