40%
41%
42%
43%
44%
16%
17%
18%
19%
20%
GDP per capita (€) and annual growth (%)
in Montenegro and the EU-28
Public finances, monetary and financial data
Public debt (% of GDP)
Surplus/deficit (% of GDP)
GDP per capita
(left axis)
EU-28
Montenegro
GDP growth
(right axis)
Montenegro
EU-28
Montenegro total unemployment and
female labour market participation
Female labour force participation (right axis)
Total unemployment (left axis)
FDI and remittances to
Montenegro and the EU-28
€
thousand
27.6
2.1%
2.9%
6.2
42.1%
17.7%
EU-28
Montenegro
-3% 3% 9% 15% 21%2.1%
Remittances received (% of GDP)
FDI net inflows (% of GDP)
EU-28
Montenegro
Inflation rate ME (%)
Montenegro business environment and socio-economic indicators
The Ease of Doing Business’s ‘distance to frontier’ score assesses the overall level of regulatory performance of a country. It ranges from 0=’lowest performance’ to 100=’the frontier’, the best performance observed worldwide each year.
The Human Development Index (HDI) measures the average achievement in key dimensions of human development. It is based on life expectancy at birth, average duration of education and GDP per capita. It ranges from 0 to 100. ‘High human development countries’ (UN) are in the range between 70 and 80.
The Corruption Perception Index measures the perceived levels of public–sector corruption worldwide. Scores range from 0 (highly corrupt) to 100 (very clean). In 2016, two thirds of countries scored below 50.
The GINI Index measures the deviation of the distribution of income among individuals or households within a country from a perfectly equal distribution. It is hence a measure of inequality in income distri-bution. A value of 0 represents absolute equality, a value of 100 absolute inequality.
Rank
64/180 48/188 42/190 24/142Score
Ease of Doing Business
Human Development Index*
Corruption Perception Index
GINI Index*
Worst Best Best Worst 100 100 100 0 0 0 80.7 73.2 46.0 100 0 30.6EU-28
(2017)7.7%
51.0%
According to the European Central Bank, Montenegro adopted the euro unilaterally in 2002 and has since used it as its de facto currency.
Montenegro: Economic indicators and trade with EU
EPRS | European Parliamentary Research Service EUI | European University Institute
Authors: Giulio Sabbati and Velina Lilyanova, Members’ Research Service
Caterina Francesca Guidi, Globalstat, EUI
PE 620.193 - April 2018
AT A GLANCE
Infographic
EU exports of goods to Montenegro (2017)
EU imports of goods from Montenegro (2017)
EU trade with Montenegro
Main trade partners (2017)
Trade in goods (exports plus imports)
EU
US
Top EU partners (2017)
Trade in goods
EU exports to Montenegro
EU imports from Montenegro
Other
Pharmaceutical
products
Furniture
Ships and boats
Plastic and rubber
Vehicles and aircraft
Oil, gas, coal
Mechanical
appliances
and electrical
equipment
Agri-food
18.0% 17.5% 14.4% 13.4% 3.1% 3.0% 2.8% 2.7% 25.1%Other
Copper
Mechanical
appliances
and electrical
equipment
Iron, steel
Ores, slag and ash
Cars and trucks
Ships and boats
Aluminium
14.5% 25.3% 19.3% 13.9% 10.2% 8.4% 4.2% 4.2%1 068
166
304
349
Imports
Exports
Imports
Exports
€ million
179
166
134
123
119
73
62
52
49
43
EU imports from
Montenegro
EU export to
Montenegro
0
100
€ million
200
Others
Other
APEC
Members
Montenegro: 0.03%
Japan: 3.5%
Turkey: 4.1%
Russia: 6.2%
Switzerland
China
US
16.9%
15.3%
7.0%
15.6%
31.1%
EU
Montenegro: 0.03%
03%
03%
3 %
Montenegro: 0.03%
Others
Albania: 1.6%
Turkey: 3.5%
China
BIH
Serbia
EU-28
45.7 %
21.5 %
11.9 %
ME
7.9%
8.0 %EU Financial assistance to Montenegro
under IPA II (2014-2020 allocations)
Preferential loans to Montenegro
EIB finance contracts signed in 2010-2017;
EBRD activity in Montenegro to date.
52.4
52.3
46.9
37.5
32.1
28.1
21.2
Agriculture and rural development
Rule of law and fundamental rights Democracy and governance Environment and climate action Transport
Education, employment and social policies Competitiveness and innovation
€270.5
million
IPA II: Instrument for Pre-accession Assistance
EIB
EBRD
420
561
0
200
400
600
EIB
EBRD
€ million
Energy Services Water, sewerage Transport Credit lines Credit lines: 66% Transport: 17% € 420 million Energy: 0.3% Water, sewerage: 13% Services: 2% NotesGlobalStat is a project developed by the European University Institute’s Global Governance Programme (Italy) and the Francisco Manuel dos Santos Foundation (Portugal). Data sources for page 1: GDP figures, inflation and exchange rates are from IMF WEO (October 2017) and Eurostat (2018); Labour market data are from World Bank WDI based on ILO KILM (2017); FDI and remittances data are estimates from World Bank staff based on IMF BoP data (2017): 2006 remittances data for Montenegro are not available: HDI and GINI are from UNDP HDR (2016) and are re-scaled (*) from 0 - 1 to 0 - 100 for better comparability - GINI is an average value computed on 2005-2013; CPI is from Transparency International (2017); Doing Business data are from the World Bank Group - Doing Business Unit (2017). According to the European Central Bank, Montenegro adopted the euro unilaterally in 2002 and has since used it as its de facto currency.
Data sources for page 2: EU trade with Montenegro, Main trade partners (EU), Top EU partners (goods), EU exports of goods to Montenegro (%) and EU imports of goods from Montenegro (%) are from ComExt, Eurostat; Other APEC members = Australia, Brunei Darussalam, Canada, Chile, Hong Kong, Indonesia, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Singapore, South Korea, Thailand and Vietnam; Trade in services are from Eurostat; Main trade partners (Montenegro) are from IMF; EU Financial assistance to Montenegro under IPA II (2014-2020 allocations) are from European Commission; EIB preferential loans to Montenegro are from EIB (European Investment Bank).
The authors acknowledge the assistance of Nadejda Kresnichka-Nikolchova in preparing graphics, and Enrico Di Gaspero in collecting data for this publication.
This document is prepared for, and addressed to, the Members and staff of the European Parliament as background material to assist them in their parliamentary work. The content of the document is the sole responsibility of its author(s) and any opinions expressed herein should not be taken to represent an official position of the Parliament. Reproduction and translation for non-commercial purposes are authorised, provided the source is acknowledged and the European Parliament is given prior notice and sent a copy. © European Union & GlobalStat, 2018.
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