Montenegro

Montenegro severed its economy from federal control and from Serbia during the MILOSEVIC era and maintained its own central bank, adopted the Deutchmark, then the euro - rather than 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. In January 2007, Montenegro joined the World Bank and IMF. Montenegro is pursuing its own membership in the World Trade Organization and signed a Stabilization and Association agreement with the European Union in October 2007. The European Council granted candidate country status to Montenegro at the December 2010 session. Unemployment and regional disparities in development are key political and economic problems. 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. The global financial crisis has had a significant negative impact on the economy, due to the ongoing credit crunch, a decline in the real estate sector, and a fall in aluminum exports.

$6.569 billion (2010 est.)

$6.689 billion (2009 est.)

$7.093 billion (2008 est.)

$3.884 billion (2010 est.)

-1.8% (2010 est.)

-5.7% (2009 est.)

6.9% (2008 est.)

$9,900 (2010 est.)

$10,000 (2009 est.)

$10,500 (2008 est.)

259,100 (2004)

14.7% (2007 est.)

7% (2007 est.)

30 (2003)

30.5% of GDP (2006 est.)

38% of GDP (2006)

3.4% (2007)

9.36% (31 December 2009 est.)

9.24% (31 December 2008 est.)

$816.8 million (31 December 2008)

$1.172 billion (31 December 2007)

$1.406 billion (31 December 2008)

$1.446 billion (31 December 2007)

$3.29 billion (31 December 2009)

$3.771 billion (31 December 2008)

$4.289 billion (31 December 2009)

$2.863 billion (31 December 2008)

$3.699 billion (31 December 2007)

tobacco, potatoes, citrus fruits, olives, grapes; sheep

steelmaking, aluminum, agricultural processing, consumer goods, tourism

2.864 billion kWh (2005 est.)

18.6 million kWh (2005)

0 kWh (2005)

0 kWh (2005)

0 bbl/day (2009 est.)

5,000 bbl/day (2009 est.)

314 bbl/day (2005)

6,093 bbl/day (2005)

0 bbl (1 January 2010 est.)

NA cu m

0 cu m (1 January 2010 est.)

-$1.102 billion (2007 est.)

$171.3 million (2003)

Italy 29.52%, Greece 22.65%, Slovenia 11.83%, Hungary 8.96%, US 7.93% (2009)

$601.7 million (2003)

Italy 17.54%, Slovenia 14.62%, Germany 10.5%, Austria 7.82%, China 7.82%, Russia 4.4%, Hungary 4.11%, Greece 4.11%, Netherlands 3.96% (2009)

$NA

$650 million (2006)

euros (EUR) per US dollar - 0.7715 (2010), 0.7179 (2009), 0.6827 (2008), 0.7345 (2007), 0.7964 (2006)