Montenegro: Selected Issues

International Monetary Fund

No 2016/080, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper focuses on Montenegro’s export sector performance and challenges. Montenegro has run a persistent trade deficit since its independence. Montenegro’s goods exports have decreased, while goods imports have been more or less stable. A comparison reveals a relatively weak recovery of goods exports for Montenegro. Montenegro’s goods exports to the euro area have declined over time despite euroization. Foreign demand explains services exports well, but less so goods exports. Business climate surveys indicate high nonprice barriers in Montenegro’s export sector. The share of high-value-added export goods has been diminishing over time. Services exports also signal narrow productivity gains. Weak productivity growth may hinder the export sector.

Keywords: ISCR; CR; goods export; goods; Montenegro; export destination; demand model; export sector; export demand equation; export share; export goods; exports goods value; Exports; Service exports; Personal income; Export performance; Global (search for similar items in EconPapers)
Pages: 13
Date: 2016-03-08
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Citations: View citations in EconPapers (1)

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