Economy of Montenegro

A Growing Economy with Strong Export & Import Markets

Montenegro’s economy has evolved significantly over the past century, transforming from a primarily agricultural-based economy to a more diverse and industrialized market. Today, it’s a growing economy that attracts international investments and continues to develop key sectors like energy, metals, and manufacturing.

Economic History of Montenegro

The 20th century marked a turning point for Montenegro’s economic development, driven by industrial innovations such as power plants, wood mills, breweries, and oil refineries. Despite being impacted by the First Balkan War, World War I, and World War II, agriculture remained a cornerstone of Montenegro’s economy.

Post-independence (after 2006), Montenegro witnessed a period of economic boom, with significant foreign investments and rapid development in various sectors, particularly energy and tourism.

Key Exports of Montenegro

Montenegro has a diverse export portfolio, with key products being:

• Electricity

• Iron and steel

• Cork and wood

• Energy and petroleum products

• Non-ferrous metals and metal scraps

The country’s natural resources and industrial production play a crucial role in the economy, contributing significantly to its export revenues.

Major Export Partners

Montenegro’s primary export partners are:

• Italy

• Serbia

• Hungary

• Croatia

• Greece

• Bosnia and Herzegovina

• Albania

Key Imports of Montenegro

While Montenegro has a strong export market, it also imports several goods to meet local demand. Key imports include:

• Road vehicles

• Manufactures of metal

• Medicinal and pharmaceutical products

Main Import Partners

Montenegro’s import partners include:

• China

• Italy

• Serbia

• Germany

• Bosnia and Herzegovina

• Greece

• Croatia

Montenegro’s economy continues to evolve with strong exports, industrial production, and key international partnerships. Whether in energy, manufacturing, or agriculture, Montenegro is a growing hub for business and investment.