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class="vector-toc-text"> <span class="vector-toc-numb">2.5</span> <span>Energy</span> </div> </a> <ul id="toc-Energy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Agriculture" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Agriculture"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.6</span> <span>Agriculture</span> </div> </a> <ul id="toc-Agriculture-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Import/Export_statistics" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Import/Export_statistics"> <div class="vector-toc-text"> <span class="vector-toc-numb">2.7</span> <span>Import/Export statistics</span> </div> </a> <ul id="toc-Import/Export_statistics-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Trade_agreements" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Trade_agreements"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Trade agreements</span> </div> </a> <ul id="toc-Trade_agreements-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Minimum_wage" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Minimum_wage"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Minimum wage</span> </div> </a> <ul id="toc-Minimum_wage-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Taxation" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Taxation"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Taxation</span> </div> </a> <ul id="toc-Taxation-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Notes" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Notes"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>Notes</span> </div> </a> <ul id="toc-Notes-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" title="Table of Contents" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Economy of Montenegro</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 30 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-30" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">30 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF_%D8%A7%D9%84%D8%AC%D8%A8%D9%84_%D8%A7%D9%84%D8%A3%D8%B3%D9%88%D8%AF" title="اقتصاد الجبل الأسود – Arabic" lang="ar" hreflang="ar" data-title="اقتصاد الجبل الأسود" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/Monteneqro_iqtisadiyyat%C4%B1" title="Monteneqro iqtisadiyyatı – Azerbaijani" lang="az" hreflang="az" data-title="Monteneqro iqtisadiyyatı" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-ba mw-list-item"><a href="https://ba.wikipedia.org/wiki/%D0%A7%D0%B5%D1%80%D0%BD%D0%BE%D0%B3%D0%BE%D1%80%D0%B8%D1%8F_%D0%B8%D2%A1%D1%82%D0%B8%D1%81%D0%B0%D0%B4%D1%8B" title="Черногория иҡтисады – Bashkir" lang="ba" hreflang="ba" data-title="Черногория иҡтисады" data-language-autonym="Башҡортса" data-language-local-name="Bashkir" class="interlanguage-link-target"><span>Башҡортса</span></a></li><li class="interlanguage-link interwiki-be mw-list-item"><a href="https://be.wikipedia.org/wiki/%D0%AD%D0%BA%D0%B0%D0%BD%D0%BE%D0%BC%D1%96%D0%BA%D0%B0_%D0%A7%D0%B0%D1%80%D0%BD%D0%B0%D0%B3%D0%BE%D1%80%D1%8B%D1%96" title="Эканоміка Чарнагорыі – Belarusian" lang="be" hreflang="be" data-title="Эканоміка Чарнагорыі" data-language-autonym="Беларуская" data-language-local-name="Belarusian" class="interlanguage-link-target"><span>Беларуская</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%98%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0_%D0%BD%D0%B0_%D0%A7%D0%B5%D1%80%D0%BD%D0%B0_%D0%B3%D0%BE%D1%80%D0%B0" title="Икономика на Черна гора – Bulgarian" lang="bg" hreflang="bg" data-title="Икономика на Черна гора" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Economia_de_Montenegro" title="Economia de Montenegro – Catalan" lang="ca" hreflang="ca" data-title="Economia de Montenegro" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Ekonomika_%C4%8Cern%C3%A9_Hory" title="Ekonomika Černé Hory – Czech" lang="cs" hreflang="cs" data-title="Ekonomika Černé Hory" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Montenegros_%C3%B8konomi" title="Montenegros økonomi – Danish" lang="da" hreflang="da" data-title="Montenegros økonomi" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de badge-Q70894304 mw-list-item" title=""><a href="https://de.wikipedia.org/wiki/Wirtschaft_Montenegros" title="Wirtschaft Montenegros – German" lang="de" hreflang="de" data-title="Wirtschaft Montenegros" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%9F%CE%B9%CE%BA%CE%BF%CE%BD%CE%BF%CE%BC%CE%AF%CE%B1_%CF%84%CE%BF%CF%85_%CE%9C%CE%B1%CF%85%CF%81%CE%BF%CE%B2%CE%BF%CF%85%CE%BD%CE%AF%CE%BF%CF%85" title="Οικονομία του Μαυροβουνίου – Greek" lang="el" hreflang="el" data-title="Οικονομία του Μαυροβουνίου" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target"><span>Ελληνικά</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Econom%C3%ADa_de_Montenegro" title="Economía de Montenegro – Spanish" lang="es" hreflang="es" data-title="Economía de Montenegro" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/%C3%89conomie_du_Mont%C3%A9n%C3%A9gro" title="Économie du Monténégro – French" lang="fr" hreflang="fr" data-title="Économie du Monténégro" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-gl mw-list-item"><a href="https://gl.wikipedia.org/wiki/Econom%C3%ADa_de_Montenegro" title="Economía de Montenegro – Galician" lang="gl" hreflang="gl" data-title="Economía de Montenegro" data-language-autonym="Galego" data-language-local-name="Galician" class="interlanguage-link-target"><span>Galego</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EB%AA%AC%ED%85%8C%EB%84%A4%EA%B7%B8%EB%A1%9C%EC%9D%98_%EA%B2%BD%EC%A0%9C" title="몬테네그로의 경제 – Korean" lang="ko" hreflang="ko" data-title="몬테네그로의 경제" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D5%89%D5%A5%D5%BC%D5%B6%D5%B8%D5%A3%D5%B8%D6%80%D5%AB%D5%A1%D5%B5%D5%AB_%D5%BF%D5%B6%D5%BF%D5%A5%D5%BD%D5%B8%D6%82%D5%A9%D5%B5%D5%B8%D6%82%D5%B6" title="Չեռնոգորիայի տնտեսություն – Armenian" lang="hy" hreflang="hy" data-title="Չեռնոգորիայի տնտեսություն" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-io mw-list-item"><a href="https://io.wikipedia.org/wiki/Ekonomio_di_Montenegro" title="Ekonomio di Montenegro – Ido" lang="io" hreflang="io" data-title="Ekonomio di Montenegro" data-language-autonym="Ido" data-language-local-name="Ido" class="interlanguage-link-target"><span>Ido</span></a></li><li class="interlanguage-link interwiki-ka mw-list-item"><a href="https://ka.wikipedia.org/wiki/%E1%83%9B%E1%83%9D%E1%83%9C%E1%83%A2%E1%83%94%E1%83%9C%E1%83%94%E1%83%92%E1%83%A0%E1%83%9D%E1%83%A1_%E1%83%94%E1%83%99%E1%83%9D%E1%83%9C%E1%83%9D%E1%83%9B%E1%83%98%E1%83%99%E1%83%90" title="მონტენეგროს ეკონომიკა – Georgian" lang="ka" hreflang="ka" data-title="მონტენეგროს ეკონომიკა" data-language-autonym="ქართული" data-language-local-name="Georgian" class="interlanguage-link-target"><span>ქართული</span></a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a href="https://mk.wikipedia.org/wiki/%D0%95%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D1%98%D0%B0_%D0%BD%D0%B0_%D0%A6%D1%80%D0%BD%D0%B0_%D0%93%D0%BE%D1%80%D0%B0" title="Економија на Црна Гора – Macedonian" lang="mk" hreflang="mk" data-title="Економија на Црна Гора" data-language-autonym="Македонски" data-language-local-name="Macedonian" class="interlanguage-link-target"><span>Македонски</span></a></li><li class="interlanguage-link interwiki-oc mw-list-item"><a href="https://oc.wikipedia.org/wiki/Economia_de_Montenegro" title="Economia de Montenegro – Occitan" lang="oc" hreflang="oc" data-title="Economia de Montenegro" data-language-autonym="Occitan" data-language-local-name="Occitan" class="interlanguage-link-target"><span>Occitan</span></a></li><li class="interlanguage-link interwiki-uz mw-list-item"><a href="https://uz.wikipedia.org/wiki/Chernagoriya_iqtisodiyoti" title="Chernagoriya iqtisodiyoti – Uzbek" lang="uz" hreflang="uz" data-title="Chernagoriya iqtisodiyoti" data-language-autonym="Oʻzbekcha / ўзбекча" data-language-local-name="Uzbek" class="interlanguage-link-target"><span>Oʻzbekcha / ўзбекча</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Gospodarka_Czarnog%C3%B3ry" title="Gospodarka Czarnogóry – Polish" lang="pl" hreflang="pl" data-title="Gospodarka Czarnogóry" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Economia_de_Montenegro" title="Economia de Montenegro – Portuguese" lang="pt" hreflang="pt" data-title="Economia de Montenegro" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Economia_Muntenegrului" title="Economia Muntenegrului – Romanian" lang="ro" hreflang="ro" data-title="Economia Muntenegrului" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%AD%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B8%D0%BA%D0%B0_%D0%A7%D0%B5%D1%80%D0%BD%D0%BE%D0%B3%D0%BE%D1%80%D0%B8%D0%B8" title="Экономика Черногории – Russian" lang="ru" hreflang="ru" data-title="Экономика Черногории" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-sq mw-list-item"><a href="https://sq.wikipedia.org/wiki/Ekonomia_e_Malit_t%C3%AB_Zi" title="Ekonomia e Malit të Zi – Albanian" lang="sq" hreflang="sq" data-title="Ekonomia e Malit të Zi" data-language-autonym="Shqip" data-language-local-name="Albanian" class="interlanguage-link-target"><span>Shqip</span></a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Gospodarstvo_%C4%8Crne_gore" title="Gospodarstvo Črne gore – Slovenian" lang="sl" hreflang="sl" data-title="Gospodarstvo Črne gore" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target"><span>Slovenščina</span></a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://sr.wikipedia.org/wiki/%D0%9F%D1%80%D0%B8%D0%B2%D1%80%D0%B5%D0%B4%D0%B0_%D0%A6%D1%80%D0%BD%D0%B5_%D0%93%D0%BE%D1%80%D0%B5" title="Привреда Црне Горе – Serbian" lang="sr" hreflang="sr" data-title="Привреда Црне Горе" data-language-autonym="Српски / srpski" data-language-local-name="Serbian" class="interlanguage-link-target"><span>Српски / srpski</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/Karada%C4%9F_ekonomisi" title="Karadağ ekonomisi – Turkish" lang="tr" hreflang="tr" data-title="Karadağ ekonomisi" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%95%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D1%96%D0%BA%D0%B0_%D0%A7%D0%BE%D1%80%D0%BD%D0%BE%D0%B3%D0%BE%D1%80%D1%96%D1%97" title="Економіка Чорногорії – Ukrainian" lang="uk" hreflang="uk" data-title="Економіка Чорногорії" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target"><span>Українська</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E9%BB%91%E5%B1%B1%E7%B6%93%E6%BF%9F" title="黑山經濟 – Chinese" lang="zh" hreflang="zh" data-title="黑山經濟" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target"><span>中文</span></a></li> </ul> <div class="after-portlet after-portlet-lang"><span class="wb-langlinks-edit wb-langlinks-link"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q2093187#sitelinks-wikipedia" title="Edit interlanguage links" class="wbc-editpage">Edit links</a></span></div> </div> </div> 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.infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><table class="infobox" style="width:26.0em;padding:0;"><caption class="infobox-title adr">Economy of <span class="country-name">Montenegro</span></caption><tbody><tr><td colspan="2" class="infobox-image"><span class="mw-default-size" typeof="mw:File/Frameless"><a href="/wiki/File:PodgoricaOverview.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/4/4b/PodgoricaOverview.jpg/220px-PodgoricaOverview.jpg" decoding="async" width="220" height="165" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/4b/PodgoricaOverview.jpg/330px-PodgoricaOverview.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/4b/PodgoricaOverview.jpg/440px-PodgoricaOverview.jpg 2x" data-file-width="2048" data-file-height="1536" /></a></span><div class="infobox-caption">[[Capital of Montenegro Podgorica ]]</div></td></tr><tr><th scope="row" class="infobox-label">Currency</th><td class="infobox-data"><a href="/wiki/Euro" title="Euro">Euro</a> (EUR, €)</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Fiscal_year" title="Fiscal year">Fiscal year</a></div></th><td class="infobox-data">Calendar year</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Trade organisations</div></th><td class="infobox-data"><a href="/wiki/Central_European_Free_Trade_Agreement" title="Central European Free Trade Agreement">CEFTA</a>, <a href="/wiki/World_Trade_Organization" title="World Trade Organization">WTO</a></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Country group</div></th><td class="infobox-data"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style><div class="plainlist"> <ul><li><a href="/wiki/Developing_country" title="Developing country">Developing/Emerging</a><sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></li> <li>Upper-middle income economy<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th colspan="2" class="infobox-header" style="background:lightblue;">Statistics</th></tr><tr><th scope="row" class="infobox-label">Population</th><td class="infobox-data"><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 633,158 (2023)<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><a href="/wiki/Gross_domestic_product" title="Gross domestic product">GDP</a></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> $8.85 billion (<a href="/wiki/Gross_domestic_product" title="Gross domestic product">nominal</a>, 2025 est.)<sup id="cite_ref-IMFWEOME_4-0" class="reference"><a href="#cite_note-IMFWEOME-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup></li> <li><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> $21.31 billion (<a href="/wiki/Purchasing_power_parity" title="Purchasing power parity">PPP</a>, 2025 est.)<sup id="cite_ref-2020/01_5-0" class="reference"><a href="#cite_note-2020/01-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label">GDP rank</th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><a href="/wiki/List_of_countries_by_GDP_(nominal)" title="List of countries by GDP (nominal)">158th (nominal, 2023 est.)</a></li> <li><a href="/wiki/List_of_countries_by_GDP_(PPP)" title="List of countries by GDP (PPP)">152th (PPP, 2023 est.)</a></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">GDP growth</div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><style data-mw-deduplicate="TemplateStyles:r1239334494">@media screen{html.skin-theme-clientpref-night .mw-parser-output div:not(.notheme)>.tmp-color,html.skin-theme-clientpref-night .mw-parser-output p>.tmp-color,html.skin-theme-clientpref-night .mw-parser-output table:not(.notheme) .tmp-color{color:inherit!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output div:not(.notheme)>.tmp-color,html.skin-theme-clientpref-os .mw-parser-output p>.tmp-color,html.skin-theme-clientpref-os .mw-parser-output table:not(.notheme) .tmp-color{color:inherit!important}}</style><span class="tmp-color" style="color:blue">+6.0%</span> (2023)<sup id="cite_ref-IMFWEOME_4-1" class="reference"><a href="#cite_note-IMFWEOME-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239334494"><span class="tmp-color" style="color:blue">+3.7%</span> (2024)<sup id="cite_ref-IMFWEOME_4-2" class="reference"><a href="#cite_note-IMFWEOME-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239334494"><span class="tmp-color" style="color:blue">+3.7%</span> (2025)<sup id="cite_ref-IMFWEOME_4-3" class="reference"><a href="#cite_note-IMFWEOME-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">GDP per capita</div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> $13,960 (nominal, 2025 est.)<sup id="cite_ref-IMFWEOME_4-4" class="reference"><a href="#cite_note-IMFWEOME-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup></li> <li><span typeof="mw:File"><span title="Decrease"><img alt="Decrease" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/11px-Decrease2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/17px-Decrease2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/22px-Decrease2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> $33,620 (PPP, 2025 est.)<sup id="cite_ref-IMFWEOME_4-5" class="reference"><a href="#cite_note-IMFWEOME-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">GDP per capita rank</div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><a href="/wiki/List_of_countries_by_GDP_(nominal)_per_capita" title="List of countries by GDP (nominal) per capita">79th (nominal, 2023 est.)</a></li> <li><a href="/wiki/List_of_countries_by_GDP_(PPP)_per_capita" title="List of countries by GDP (PPP) per capita">68th (PPP, 2023 est.)</a></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">GDP by sector</div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"><a href="/wiki/Primary_sector_of_the_economy" title="Primary sector of the economy">Agriculture</a>: 7.5% <ul><li><a href="/wiki/Secondary_sector_of_the_economy" title="Secondary sector of the economy">Industry</a>: 15.9%</li> <li><a href="/wiki/Tertiary_sector_of_the_economy" title="Tertiary sector of the economy">Services</a>: 76.6%</li> <li>(2016 est.)<sup id="cite_ref-CIAWFMJ_6-0" class="reference"><a href="#cite_note-CIAWFMJ-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0; line-height:1.2em"><a href="/wiki/Inflation" title="Inflation">Inflation</a> (<a href="/wiki/Consumer_price_index" title="Consumer price index">CPI</a>)</div></th><td class="infobox-data">4.3% (2024 est.)<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Population below <span class="nowrap"><a href="/wiki/Poverty_threshold" title="Poverty threshold">poverty line</a></span></div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li>8.6% (2013 est.)<sup id="cite_ref-CIAWFMJ_6-1" class="reference"><a href="#cite_note-CIAWFMJ-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></li> <li><span typeof="mw:File"><span title="Positive decrease"><img alt="Positive decrease" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/11px-Decrease_Positive.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/17px-Decrease_Positive.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/22px-Decrease_Positive.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 31.4% at risk of poverty or social exclusion (2022)<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup></li> <li><span typeof="mw:File"><span title="Negative increase"><img alt="Negative increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/59/Increase_Negative.svg/11px-Increase_Negative.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/59/Increase_Negative.svg/17px-Increase_Negative.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/59/Increase_Negative.svg/22px-Increase_Negative.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 18.1% on less than $5.50/day (2020f)<sup id="cite_ref-Spring2020_9-0" class="reference"><a href="#cite_note-Spring2020-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Gini_coefficient" title="Gini coefficient"><span class="wrap">Gini coefficient</span></a></div></th><td class="infobox-data"><span typeof="mw:File"><span title="Positive decrease"><img alt="Positive decrease" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/11px-Decrease_Positive.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/17px-Decrease_Positive.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/22px-Decrease_Positive.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 31.5 <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239334494"><span class="tmp-color" style="color:darkorange">medium</span> (2022, <a href="/wiki/Eurostat" title="Eurostat">Eurostat</a>)<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Human_Development_Index" title="Human Development Index">Human Development Index</a></div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 0.832 <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239334494"><span class="tmp-color" style="color:darkgreen">very high</span> (2021)<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> (<a href="/wiki/List_of_countries_by_Human_Development_Index" title="List of countries by Human Development Index">49th</a>)</li> <li><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 0.756 <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239334494"><span class="tmp-color" style="color:green">high</span> <a href="/wiki/List_of_countries_by_inequality-adjusted_HDI" class="mw-redirect" title="List of countries by inequality-adjusted HDI">IHDI (40th)</a> (2021)<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Corruption_Perceptions_Index" title="Corruption Perceptions Index">Corruption Perceptions Index</a></div></th><td class="infobox-data"><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 46 out of 100 points (2023)<sup id="cite_ref-ti_2023_13-0" class="reference"><a href="#cite_note-ti_2023-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> (<a href="/wiki/Corruption_Perceptions_Index#Ranking_over_Time" title="Corruption Perceptions Index">63th</a>)</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Labour force</div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><span typeof="mw:File"><span title="Decrease"><img alt="Decrease" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/11px-Decrease2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/17px-Decrease2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/22px-Decrease2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 257,387 (2019)<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup></li> <li><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 59.8% employment rate (2018)<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Labour force by occupation</div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><a href="/wiki/Primary_sector_of_the_economy" title="Primary sector of the economy">agriculture</a>: 7.9%</li> <li><a href="/wiki/Secondary_sector_of_the_economy" title="Secondary sector of the economy">industry</a>: 17.1%</li> <li><a href="/wiki/Tertiary_sector_of_the_economy" title="Tertiary sector of the economy">services</a>: 75%</li> <li>(2017 est.)<sup id="cite_ref-CIAWFMJ_6-2" class="reference"><a href="#cite_note-CIAWFMJ-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label">Unemployment</th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><span typeof="mw:File"><span title="Positive decrease"><img alt="Positive decrease" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/11px-Decrease_Positive.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/17px-Decrease_Positive.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/22px-Decrease_Positive.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 16.1% (2017 est.)<sup id="cite_ref-CIAWFMJ_6-3" class="reference"><a href="#cite_note-CIAWFMJ-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></li> <li><span typeof="mw:File"><span title="Positive decrease"><img alt="Positive decrease" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/11px-Decrease_Positive.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/17px-Decrease_Positive.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/22px-Decrease_Positive.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 30.7% youth unemployment (2018)<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Average gross salary</div></th><td class="infobox-data"><a href="/wiki/List_of_European_countries_by_average_wage" title="List of European countries by average wage">€1210 / $1252</a> monthly (December, 2024)</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Net_income" title="Net income"><span class="wrap">Average net salary</span></a></div></th><td class="infobox-data"><a href="/wiki/List_of_European_countries_by_average_wage" title="List of European countries by average wage">€1012 / $1047</a> monthly (December, 2024)</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Main industries</div></th><td class="infobox-data"><a href="/wiki/Steelmaking" title="Steelmaking">steelmaking</a>, <a href="/wiki/Aluminum" class="mw-redirect" title="Aluminum">aluminum</a>, <a href="/wiki/Food_processing" title="Food processing">agricultural processing</a>, <a href="/wiki/Consumer_goods" class="mw-redirect" title="Consumer goods">consumer goods</a>, <a href="/wiki/Tourism" title="Tourism">tourism</a></td></tr><tr><th colspan="2" class="infobox-header" style="background:lightblue;">External</th></tr><tr><th scope="row" class="infobox-label">Exports</th><td class="infobox-data"><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> $2.502 billion (2021 est.)<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Export goods</div></th><td class="infobox-data">Copper ore, aluminum, electricity, dried legumes, packaged medicines, lead, scrap iron, lumber</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Main export partners</div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Flag_of_Serbia.svg/23px-Flag_of_Serbia.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Flag_of_Serbia.svg/35px-Flag_of_Serbia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Flag_of_Serbia.svg/45px-Flag_of_Serbia.svg.png 2x" data-file-width="1350" data-file-height="900" /></span></span> </span><a href="/wiki/Serbia" title="Serbia">Serbia</a> 15.7%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/9a/Flag_of_Spain.svg/23px-Flag_of_Spain.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/9a/Flag_of_Spain.svg/35px-Flag_of_Spain.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/9a/Flag_of_Spain.svg/45px-Flag_of_Spain.svg.png 2x" data-file-width="750" data-file-height="500" /></span></span> </span><a href="/wiki/Spain" title="Spain">Spain</a> 11.3%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/3/32/Flag_of_Pakistan.svg/23px-Flag_of_Pakistan.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/32/Flag_of_Pakistan.svg/35px-Flag_of_Pakistan.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/32/Flag_of_Pakistan.svg/45px-Flag_of_Pakistan.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Pakistan" title="Pakistan">Pakistan</a> 9.4%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/08/Flag_of_Switzerland_%28Pantone%29.svg/16px-Flag_of_Switzerland_%28Pantone%29.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/08/Flag_of_Switzerland_%28Pantone%29.svg/24px-Flag_of_Switzerland_%28Pantone%29.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/08/Flag_of_Switzerland_%28Pantone%29.svg/32px-Flag_of_Switzerland_%28Pantone%29.svg.png 2x" data-file-width="512" data-file-height="512" /></span></span>  </span><a href="/wiki/Switzerland" title="Switzerland">Switzerland</a> 7.6%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/09/Flag_of_South_Korea.svg/23px-Flag_of_South_Korea.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/09/Flag_of_South_Korea.svg/35px-Flag_of_South_Korea.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/09/Flag_of_South_Korea.svg/45px-Flag_of_South_Korea.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/South_Korea" title="South Korea">South Korea</a> 5.7%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/bf/Flag_of_Bosnia_and_Herzegovina.svg/23px-Flag_of_Bosnia_and_Herzegovina.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/bf/Flag_of_Bosnia_and_Herzegovina.svg/35px-Flag_of_Bosnia_and_Herzegovina.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/bf/Flag_of_Bosnia_and_Herzegovina.svg/46px-Flag_of_Bosnia_and_Herzegovina.svg.png 2x" data-file-width="800" data-file-height="400" /></span></span> </span><a href="/wiki/Bosnia_and_Herzegovina" title="Bosnia and Herzegovina">Bosnia and Herzegovina</a> 4.8%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/b/ba/Flag_of_Germany.svg/23px-Flag_of_Germany.svg.png" decoding="async" width="23" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/b/ba/Flag_of_Germany.svg/35px-Flag_of_Germany.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/b/ba/Flag_of_Germany.svg/46px-Flag_of_Germany.svg.png 2x" data-file-width="1000" data-file-height="600" /></span></span> </span><a href="/wiki/Germany" title="Germany">Germany</a> 4.7%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/23px-Flag_of_Italy.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/35px-Flag_of_Italy.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/45px-Flag_of_Italy.svg.png 2x" data-file-width="1500" data-file-height="1000" /></span></span> </span><a href="/wiki/Italy" title="Italy">Italy</a> 4.1%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/f/f3/Flag_of_Russia.svg/23px-Flag_of_Russia.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/f/f3/Flag_of_Russia.svg/35px-Flag_of_Russia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/f/f3/Flag_of_Russia.svg/45px-Flag_of_Russia.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Russia" title="Russia">Russia</a> 3.9%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b4/Flag_of_Turkey.svg/23px-Flag_of_Turkey.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b4/Flag_of_Turkey.svg/35px-Flag_of_Turkey.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b4/Flag_of_Turkey.svg/45px-Flag_of_Turkey.svg.png 2x" data-file-width="1200" data-file-height="800" /></span></span> </span><a href="/wiki/Turkey" title="Turkey">Turkey</a> 3.7% (2021)<sup id="cite_ref-OECexport_18-0" class="reference"><a href="#cite_note-OECexport-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label">Imports</th><td class="infobox-data"><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> $3.637 billion (2021 est.)<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Import goods</div></th><td class="infobox-data">Refined petroleum, cars, packaged medicines, recreational boats, cigarettes</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Main import partners</div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Flag_of_Serbia.svg/23px-Flag_of_Serbia.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Flag_of_Serbia.svg/35px-Flag_of_Serbia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Flag_of_Serbia.svg/45px-Flag_of_Serbia.svg.png 2x" data-file-width="1350" data-file-height="900" /></span></span> </span><a href="/wiki/Serbia" title="Serbia">Serbia</a> 25.7%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Greece.svg/23px-Flag_of_Greece.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Greece.svg/35px-Flag_of_Greece.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Greece.svg/45px-Flag_of_Greece.svg.png 2x" data-file-width="600" data-file-height="400" /></span></span> </span><a href="/wiki/Greece" title="Greece">Greece</a> 9.5%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/1/1b/Flag_of_Croatia.svg/23px-Flag_of_Croatia.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/1b/Flag_of_Croatia.svg/35px-Flag_of_Croatia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/1b/Flag_of_Croatia.svg/46px-Flag_of_Croatia.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Croatia" title="Croatia">Croatia</a> 7.4%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_the_People%27s_Republic_of_China.svg/23px-Flag_of_the_People%27s_Republic_of_China.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_the_People%27s_Republic_of_China.svg/35px-Flag_of_the_People%27s_Republic_of_China.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_the_People%27s_Republic_of_China.svg/45px-Flag_of_the_People%27s_Republic_of_China.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/China" title="China">China</a> 7.1%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/bf/Flag_of_Bosnia_and_Herzegovina.svg/23px-Flag_of_Bosnia_and_Herzegovina.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/bf/Flag_of_Bosnia_and_Herzegovina.svg/35px-Flag_of_Bosnia_and_Herzegovina.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/bf/Flag_of_Bosnia_and_Herzegovina.svg/46px-Flag_of_Bosnia_and_Herzegovina.svg.png 2x" data-file-width="800" data-file-height="400" /></span></span> </span><a href="/wiki/Bosnia_and_Herzegovina" title="Bosnia and Herzegovina">Bosnia and Herzegovina</a> 6.2%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/23px-Flag_of_Italy.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/35px-Flag_of_Italy.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/45px-Flag_of_Italy.svg.png 2x" data-file-width="1500" data-file-height="1000" /></span></span> </span><a href="/wiki/Italy" title="Italy">Italy</a> 4.9%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/b/ba/Flag_of_Germany.svg/23px-Flag_of_Germany.svg.png" decoding="async" width="23" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/b/ba/Flag_of_Germany.svg/35px-Flag_of_Germany.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/b/ba/Flag_of_Germany.svg/46px-Flag_of_Germany.svg.png 2x" data-file-width="1000" data-file-height="600" /></span></span> </span><a href="/wiki/Germany" title="Germany">Germany</a> 4.3%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b4/Flag_of_Turkey.svg/23px-Flag_of_Turkey.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b4/Flag_of_Turkey.svg/35px-Flag_of_Turkey.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b4/Flag_of_Turkey.svg/45px-Flag_of_Turkey.svg.png 2x" data-file-width="1200" data-file-height="800" /></span></span> </span><a href="/wiki/Turkey" title="Turkey">Turkey</a> 3.3%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Flag_of_Slovenia.svg/23px-Flag_of_Slovenia.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Flag_of_Slovenia.svg/35px-Flag_of_Slovenia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Flag_of_Slovenia.svg/46px-Flag_of_Slovenia.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Slovenia" title="Slovenia">Slovenia</a> 3.01%</li> <li><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c1/Flag_of_Hungary.svg/23px-Flag_of_Hungary.svg.png" decoding="async" width="23" height="12" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c1/Flag_of_Hungary.svg/35px-Flag_of_Hungary.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c1/Flag_of_Hungary.svg/46px-Flag_of_Hungary.svg.png 2x" data-file-width="1200" data-file-height="600" /></span></span> </span><a href="/wiki/Hungary" title="Hungary">Hungary</a> 1.8% (2021)<sup id="cite_ref-OECimport_20-0" class="reference"><a href="#cite_note-OECimport-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Foreign_direct_investment" title="Foreign direct investment">FDI</a> stock</div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><span typeof="mw:File"><span title="Decrease"><img alt="Decrease" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/11px-Decrease2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/17px-Decrease2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/22px-Decrease2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> $737.7 million (31 December 2017 est.)<sup id="cite_ref-CIAWFMJ_6-4" class="reference"><a href="#cite_note-CIAWFMJ-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></li> <li><span typeof="mw:File"><span title="Decrease"><img alt="Decrease" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/11px-Decrease2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/17px-Decrease2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/22px-Decrease2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> Abroad: $39.77 million (31 December 2017 est.)<sup id="cite_ref-CIAWFMJ_6-5" class="reference"><a href="#cite_note-CIAWFMJ-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Current_account_(balance_of_payments)" title="Current account (balance of payments)"><span class="wrap">Current account</span></a></div></th><td class="infobox-data"><span typeof="mw:File"><span title="Positive decrease"><img alt="Positive decrease" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/11px-Decrease_Positive.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/17px-Decrease_Positive.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/22px-Decrease_Positive.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> −$540.073 million (2021 est.)<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Gross <a href="/wiki/External_debt" title="External debt"><span class="wrap">external debt</span></a></div></th><td class="infobox-data"><span typeof="mw:File"><span title="Negative increase"><img alt="Negative increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/59/Increase_Negative.svg/11px-Increase_Negative.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/59/Increase_Negative.svg/17px-Increase_Negative.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/59/Increase_Negative.svg/22px-Increase_Negative.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> $3.66 billion (2021)<sup id="cite_ref-CIAWFMJ_6-6" class="reference"><a href="#cite_note-CIAWFMJ-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></td></tr><tr><th colspan="2" class="infobox-header" style="background:lightblue;">Public finances</th></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/List_of_countries_by_government_debt" title="List of countries by government debt"><span class="wrap">Government debt</span></a></div></th><td class="infobox-data"><span typeof="mw:File"><span title="Positive decrease"><img alt="Positive decrease" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/11px-Decrease_Positive.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/17px-Decrease_Positive.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/92/Decrease_Positive.svg/22px-Decrease_Positive.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 65.76% of GDP (2023 est.)<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Government_budget_balance" title="Government budget balance"><span class="wrap">Budget balance</span></a></div></th><td class="infobox-data">−3.1% (of GDP) (2024 est.):<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label">Revenues</th><td class="infobox-data">1.78 billion (2017 est.)<sup id="cite_ref-CIAWFMJ_6-7" class="reference"><a href="#cite_note-CIAWFMJ-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label">Expenses</th><td class="infobox-data">2.05 billion (2017 est.)<sup id="cite_ref-CIAWFMJ_6-8" class="reference"><a href="#cite_note-CIAWFMJ-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/List_of_countries_by_credit_rating" title="List of countries by credit rating"><span class="wrap">Credit rating</span></a></div></th><td class="infobox-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"><div class="plainlist"> <ul><li><a href="/wiki/Standard_%26_Poor%27s" class="mw-redirect" title="Standard & Poor's">Standard & Poor's</a>:<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup></li> <li>B (Domestic)</li> <li>B (Foreign)</li> <li>AAA (T&C Assessment)</li> <li>Outlook: Positive</li> <li><a href="/wiki/Moody%27s" class="mw-redirect" title="Moody's">Moody's</a>:<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup></li> <li>B1</li> <li>Outlook: Stable</li></ul> </div></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Foreign_exchange_reserves" title="Foreign exchange reserves"><span class="wrap">Foreign reserves</span></a></div></th><td class="infobox-data"><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> $1.982 billion (31 December 2021 est.)<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup></td></tr><tr><td colspan="2" class="infobox-below" style="background:lightblue;"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0; line-height:1.25em;padding:0.2em;"> <i>All values, unless otherwise stated, are in <a href="/wiki/United_States_dollar" title="United States dollar">US dollars</a>.</i></div></td></tr></tbody></table> <style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl dl,.mw-parser-output .hlist dl ol,.mw-parser-output .hlist dl ul,.mw-parser-output .hlist ol dl,.mw-parser-output .hlist ol ol,.mw-parser-output .hlist ol ul,.mw-parser-output .hlist ul dl,.mw-parser-output .hlist ul ol,.mw-parser-output .hlist ul ul{display:inline}.mw-parser-output .hlist .mw-empty-li{display:none}.mw-parser-output .hlist dt::after{content:": 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.sidebar{width:100%!important;clear:both;float:none!important;margin-left:0!important;margin-right:0!important}}body.skin--responsive .mw-parser-output .sidebar a>img{max-width:none!important}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><table class="sidebar nomobile nowraplinks" style="width:18.0em;"><tbody><tr><td class="sidebar-top-image"><span typeof="mw:File"><a href="/wiki/Coat_of_arms_of_Montenegro" title="Coat of arms of Montenegro"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/2/23/Coat_of_arms_of_Montenegro.svg/100px-Coat_of_arms_of_Montenegro.svg.png" decoding="async" width="100" height="115" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/23/Coat_of_arms_of_Montenegro.svg/150px-Coat_of_arms_of_Montenegro.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/23/Coat_of_arms_of_Montenegro.svg/200px-Coat_of_arms_of_Montenegro.svg.png 2x" data-file-width="539" data-file-height="622" /></a></span></td></tr><tr><td class="sidebar-pretitle-with-top-image" style="border-top:1px solid #aaa;">Part of <a href="/wiki/Category:Montenegro" title="Category:Montenegro">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle" style="font-size:150%;"><a href="/wiki/Montenegro" title="Montenegro">Montenegro</a></th></tr><tr><th class="sidebar-heading" style="border-top:1px solid #aaa;font-size:110%;;padding:0.3em 0 0.4em;"> <a href="/wiki/History_of_Montenegro" title="History of Montenegro">History</a></th></tr><tr><th class="sidebar-heading" style="border-top:1px solid #aaa;font-size:110%;"> <a href="/wiki/Geography_of_Montenegro" title="Geography of Montenegro">Geography</a></th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.1em;"> <ul><li><a href="/wiki/List_of_cities_in_Montenegro" title="List of cities in Montenegro">Cities</a></li> <li><a href="/wiki/List_of_mountains_in_Montenegro" title="List of mountains in Montenegro">Mountains</a></li> <li><a href="/wiki/List_of_populated_places_in_Montenegro" title="List of populated places in Montenegro">Places</a></li></ul> <ul><li><a href="/wiki/List_of_regions_of_Montenegro" class="mw-redirect" title="List of regions of Montenegro">Regions</a></li> <li><a href="/wiki/List_of_rivers_of_Montenegro" title="List of rivers of Montenegro">Rivers</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="border-top:1px solid #aaa;font-size:110%;"> <a href="/wiki/Politics_of_Montenegro" title="Politics of Montenegro">Politics</a></th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.1em;"> <ul><li><a href="/wiki/Elections_in_Montenegro" title="Elections in Montenegro">Elections</a></li> <li><a href="/wiki/Foreign_relations_of_Montenegro" title="Foreign relations of Montenegro">Foreign relations</a></li></ul> <ul><li><a href="/wiki/Government_of_Montenegro" title="Government of Montenegro">Government</a></li> <li><a href="/wiki/Military_of_Montenegro" class="mw-redirect" title="Military of Montenegro">Military</a></li></ul> <ul><li><a href="/wiki/Municipalities_of_Montenegro" title="Municipalities of Montenegro">Municipalities</a></li> <li><a href="/wiki/Parliament_of_Montenegro" title="Parliament of Montenegro">Parliament</a></li></ul> <ul><li><a href="/wiki/List_of_political_parties_in_Montenegro" title="List of political parties in Montenegro">Political parties</a></li></ul> <div style="display:inline-block; padding:0.2em 0.4em; line-height:1.2em;"><a href="/wiki/President_of_Montenegro" title="President of Montenegro">President</a><br /><span style="font-size:85%;">(<a href="/wiki/Milo_%C4%90ukanovi%C4%87" title="Milo Đukanović">Milo Đukanović</a>)</span></div> <div style="display:inline-block; padding:0.2em 0.4em; line-height:1.2em;"><a href="/wiki/Prime_Minister_of_Montenegro" title="Prime Minister of Montenegro">Prime Minister</a><br /><span style="font-size:85%;">(<a href="/wiki/Zdravko_Krivokapi%C4%87" title="Zdravko Krivokapić">Zdravko Krivokapić</a>)</span></div></td> </tr><tr><th class="sidebar-heading" style="border-top:1px solid #aaa;font-size:110%;"> <a class="mw-selflink selflink">Economy</a></th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.1em;"> <ul><li><a href="/wiki/Telecommunications_in_Montenegro" title="Telecommunications in Montenegro">Telecommunications</a></li></ul> <ul><li><a href="/wiki/Transport_in_Montenegro" title="Transport in Montenegro">Transportation</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="border-top:1px solid #aaa;font-size:110%;"> <a href="/wiki/Category:Society_of_Montenegro" title="Category:Society of Montenegro">Society</a></th></tr><tr><td class="sidebar-content hlist" style="padding-top:0.1em;"> <ul><li><a href="/wiki/Culture_of_Montenegro" title="Culture of Montenegro">Culture</a></li></ul> <div style="display:inline-block; padding:0.2em 0.4em; line-height:1.2em;"><a href="/wiki/Demographics_of_Montenegro" title="Demographics of Montenegro">Demographics</a><br />(<a href="/wiki/Demographic_history_of_Montenegro" title="Demographic history of Montenegro">history</a>)</div></td> </tr><tr><td class="sidebar-navbar" style="border-top:1px solid #aaa;"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Montenegro_topics_sidebar" title="Template:Montenegro topics sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Montenegro_topics_sidebar" title="Template talk:Montenegro topics sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Montenegro_topics_sidebar" title="Special:EditPage/Template:Montenegro topics sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>The <b>economy of Montenegro</b> is currently in a process of <a href="/wiki/Transition_economy" title="Transition economy">transition</a>, as it navigates the impacts of the <a href="/wiki/Yugoslav_Wars" title="Yugoslav Wars">Yugoslav Wars</a>, the decline of industry following the dissolution of the <a href="/wiki/Yugoslavia" title="Yugoslavia">Yugoslavia</a>, and <a href="/wiki/Economic_sanctions" title="Economic sanctions">economic sanctions</a> imposed by the <a href="/wiki/United_Nations" title="United Nations">United Nations</a>. <a href="/wiki/Montenegro" title="Montenegro">Montenegro</a> joined the <a href="/wiki/World_Trade_Organization" title="World Trade Organization">World Trade Organization</a> on 29 April 2012.<sup id="cite_ref-memberlist_27-0" class="reference"><a href="#cite_note-memberlist-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Montenegro%E2%80%93NATO_relations" title="Montenegro–NATO relations">Montenegro joined</a> the <a href="/wiki/North_Atlantic_Treaty_Organization" class="mw-redirect" title="North Atlantic Treaty Organization">North Atlantic Treaty Organization</a> on 5 June 2017.<sup id="cite_ref-auto_28-0" class="reference"><a href="#cite_note-auto-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>As a relatively small principality founded in 1852, <a href="/wiki/Montenegro" title="Montenegro">Montenegro</a>'s economy was originally wholly based in agriculture, but it began developing an industrial economy at the turn of the 20th century. Growth was hampered by its small population, lack of raw materials, an underdeveloped transport network, and a comparatively low rate of domestic and international investment. </p><p>The first industrial enterprises built in Montenegro were <a href="/wiki/Woodworking" title="Woodworking">wood mills</a>, an <a href="/wiki/Oil_refinery" title="Oil refinery">oil refinery</a>, a <a href="/wiki/Brewery" title="Brewery">brewery</a>, <a href="/wiki/Salt_evaporation_pond" title="Salt evaporation pond">salt works</a>, and electric <a href="/wiki/Power_plants" class="mw-redirect" title="Power plants">power plants</a>. Economic development was interrupted by several wars, including the <a href="/wiki/First_Balkan_War" title="First Balkan War">First Balkan War</a> (1912–13), <a href="/wiki/World_War_I" title="World War I">World War I</a> (1914–18), and <a href="/wiki/World_War_II" title="World War II">World War II</a> (1939–45). Throughout the first half of the 20th century, agriculture continued to dominate Montenegro's economic activity. </p> <div class="mw-heading mw-heading3"><h3 id="The_Yugoslav_era">The Yugoslav era</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=2" title="Edit section: The Yugoslav era"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Montenegro's economy was developed significantly after World War II, as the country was integrated into the <a href="/wiki/SFR_Yugoslavia" class="mw-redirect" title="SFR Yugoslavia">Socialist Federal Republic of Yugoslavia</a> and experienced a period of rapid urbanization and industrialization. Its industrial sector included the generation of electricity, <a href="/wiki/Steel_mill" title="Steel mill">steel</a> and <a href="/wiki/Aluminum" class="mw-redirect" title="Aluminum">aluminum</a> production, <a href="/wiki/Coal_mining" title="Coal mining">coal mining</a>, <a href="/wiki/Forestry" title="Forestry">forestry</a> and <a href="/wiki/Wood_processing" title="Wood processing">wood processing</a>, <a href="/wiki/Textiles" class="mw-redirect" title="Textiles">textiles</a>, and tobacco manufacturing, while international trade, shipping, and tourism became increasingly important by the late 1980s. </p> <div class="mw-heading mw-heading3"><h3 id="Post-Yugoslavia">Post-Yugoslavia</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=3" title="Edit section: Post-Yugoslavia"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Following the dissolution of Yugoslavia in the early 1990s, Montenegro's entire industrial production system effectively collapsed, leading to shortages of many goods and skyrocketing prices for them. Due to its political alliance with Serbia and favourable geographic location, with access to the <a href="/wiki/Adriatic_Sea" title="Adriatic Sea">Adriatic Sea</a> and a shipping-link to <a href="/wiki/Albania" title="Albania">Albania</a> across <a href="/wiki/Lake_Skadar" title="Lake Skadar">Lake Skadar</a>, Montenegro became a hub for smuggling activity during the 1990s. The smuggling of petrol and cigarettes, in particular, became a de facto legalised practice within the country.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Dissolution_of_State_Union_with_Serbia">Dissolution of State Union with Serbia</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=4" title="Edit section: Dissolution of State Union with Serbia"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 1997, <a href="/wiki/Milo_%C4%90ukanovi%C4%87" title="Milo Đukanović">Milo Đukanović</a> took control of Montenegro's ruling party, the <a href="/wiki/Democratic_Party_of_Socialists_of_Montenegro" title="Democratic Party of Socialists of Montenegro">Democratic Party of Socialists of Montenegro</a>, and began severing political ties with <a href="/wiki/Serbia" title="Serbia">Serbia</a>. He blamed the policies of Serbian President <a href="/wiki/Slobodan_Milo%C5%A1evi%C4%87" title="Slobodan Milošević">Slobodan Milošević</a> for the overall decline of the Montenegrin economy. Resurgent inflation led the Montenegrin government to "<a href="/wiki/Dollarize" class="mw-redirect" title="Dollarize">dollarize</a>" the economy, adopting the <a href="/wiki/German_mark" class="mw-redirect" title="German mark">German mark</a> as its dominant currency.<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> These economic policies also led to a revision in 2003 of the relationship between the two countries from a federal republic to a much looser political union of <a href="/wiki/Serbia_and_Montenegro" title="Serbia and Montenegro">Serbia and Montenegro</a>, in which the Montenegrin government assumed responsibility for its own economic policies. </p><p>The union did not last and on 21 May 2006, the people of Montenegro voted by <a href="/wiki/2006_Montenegrin_independence_referendum" title="2006 Montenegrin independence referendum">referendum</a> to declare independence from Serbia.<sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Current_economy">Current economy</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=5" title="Edit section: Current economy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Following the independence referendum, Montenegro's economy has evolved to highlight its service sector, with a goal of becoming an elite tourist destination, and is <a href="/wiki/Accession_of_Montenegro_to_the_European_Union" title="Accession of Montenegro to the European Union">navigating the process of joining</a> the <a href="/wiki/European_Union" title="European Union">European Union</a>. Attempts to attract foreign investors for large infrastructure projects are ongoing, as these projects are integral to its development as a tourist destination. </p><p>Montenegro experienced a real estate boom in 2006 and 2007, with wealthy <a href="/wiki/Russians" title="Russians">Russians</a>, <a href="/wiki/United_Kingdom" title="United Kingdom">Britons</a> and others buying property on the Montenegrin coast. As of 2008, Montenegro received more foreign investment per capita than any other nation in Europe.<sup id="cite_ref-zivkovic17_32-0" class="reference"><a href="#cite_note-zivkovic17-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> </p><p>In the first half of 2012, Montenegro exported goods, mostly metals, worth €182.3 million, which was 14.6% less than in the same period of the preceding year. Its major export partners include Croatia, Serbia, Bosnia and Herzegovina, and Hungary. Montenegro's imports in the first half of 2012, mostly food, oil, and electrical energy, were worth €864.9 million, which was 2.6% more than the same period in 2011. Its major import partners include Serbia, Greece, and Bosnia and Herzegovina.<sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> </p><p>In 2022, the sector with the highest number of companies registered in Montenegro is Services with 15,496 companies followed by Retail Trade and Wholesale Trade with 11,200 and 6,839 companies respectively.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Finance">Finance</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=6" title="Edit section: Finance"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The <a href="/wiki/Central_Bank_of_Montenegro" title="Central Bank of Montenegro">Central Bank of Montenegro</a> was founded in 2001 and shortly thereafter adopted the <a href="/wiki/Euro" title="Euro">euro</a> as the currency of the country in March 2002. </p><p>The banking sector of Montenegro has a significant share of foreign capital. Banks in Montenegro provide both retail and corporate banking products under one roof, and most offer non-resident accounts, usually to both natural persons and legal entities.<sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup> </p><p>The <a href="/wiki/Montenegro_Stock_Exchange" title="Montenegro Stock Exchange">Montenegro Stock Exchange</a>, founded in 1993, was strengthened in 2011 when it merged to become the sole stock exchange in the country. It is owned by a number of financial institutions. </p> <div class="mw-heading mw-heading3"><h3 id="Infrastructure">Infrastructure</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=7" title="Edit section: Infrastructure"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Transport_in_Montenegro" title="Transport in Montenegro">Transport in Montenegro</a></div> <p>In the <a href="/wiki/Late_2000s_recession" class="mw-redirect" title="Late 2000s recession">2007 Great Recession</a> the economic growth slowed, as several infrastructure projects, such as the development of <a href="/wiki/Velika_Pla%C5%BEa" title="Velika Plaža">Velika Plaža</a>, <a href="/wiki/Ada_Bojana" title="Ada Bojana">Ada Bojana</a>, <a href="/wiki/Buljarica" title="Buljarica">Buljarica</a>, <a href="/wiki/Jaz_Beach" title="Jaz Beach">Jaz Beach</a>, and the construction of the <a href="/wiki/A-1_motorway_(Montenegro)" title="A-1 motorway (Montenegro)">Bar-Boljare motorway</a> and new <a href="/wiki/Power_plant" class="mw-redirect" title="Power plant">power plants</a> had to be postponed. </p><p>The <a href="/wiki/Port_of_Bar" title="Port of Bar">Port of Bar</a> is the country's primary communication with the maritime trade. Its terminal is specialized in bulk shipment of bauxite and other ores, grain, wood products, acetic acid and petroleum derivatives. In 2019 its allowable draft was reported as 12.8m and several private storage tanks exist on site, to service trade.<sup id="cite_ref-mfam19_36-0" class="reference"><a href="#cite_note-mfam19-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup> Ro–Ro traffic from <a href="/wiki/Bari" title="Bari">Bari</a> and <a href="/wiki/Ancona" title="Ancona">Ancona</a> is handled through an operational quay which is 400m long with water depth of between 4m and 5.9m.<sup id="cite_ref-iatap_37-0" class="reference"><a href="#cite_note-iatap-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Industry">Industry</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=8" title="Edit section: Industry"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The 2007 recession was difficult for the <a href="/wiki/Podgorica_Aluminium_Plant" class="mw-redirect" title="Podgorica Aluminium Plant">Podgorica Aluminium Plant</a>, which was initially built in 1969 and was the biggest single contributor to the Montenegrin <a href="/wiki/Gross_domestic_product" title="Gross domestic product">gross domestic product</a>. The plant, first sold to <a href="/wiki/Oleg_Deripaska" title="Oleg Deripaska">Oleg Deripaska</a>'s <a href="/wiki/En%2B_Group" title="En+ Group">En+ Group</a> in 2005, declared bankruptcy in 2013 and was sold to local magnate <a href="/w/index.php?title=Veselin_Pejovic&action=edit&redlink=1" class="new" title="Veselin Pejovic (page does not exist)">Veselin Pejovic</a>'s <a href="/w/index.php?title=Uniprom&action=edit&redlink=1" class="new" title="Uniprom (page does not exist)">Uniprom</a> in 2014.<sup id="cite_ref-uniprom_38-0" class="reference"><a href="#cite_note-uniprom-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Tourism">Tourism</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=9" title="Edit section: Tourism"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Tourism_in_Montenegro" title="Tourism in Montenegro">Tourism in Montenegro</a></div> <p>With 300km of coastline, backed by mountains, Montenegro is proving to be a desirable holiday destination and generated around 25% of Montenegro's GDP. <a href="/wiki/Impact_of_the_COVID-19_pandemic_on_tourism" title="Impact of the COVID-19 pandemic on tourism">Covid restrictions</a> in 2020 saw Montenegro suffer a 15% drop in GDP and high unemployment in the tourist sector before rebounding in 2021.<sup id="cite_ref-39" class="reference"><a href="#cite_note-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> Montenegro prefers luxurious and upscale projects to attract tourists, encouraging foreign investment to create the facilities.<sup id="cite_ref-40" class="reference"><a href="#cite_note-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Energy">Energy</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=10" title="Edit section: Energy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/List_of_power_stations_in_Montenegro" title="List of power stations in Montenegro">List of power stations in Montenegro</a></div> <p><a href="/wiki/Elektroprivreda_Crne_Gore" title="Elektroprivreda Crne Gore">Elektroprivreda Crne Gore</a> (EPCG) is the mainly state-owned coal and power producer and distributor which owns two large hydroelectric plants and a coal powered thermal power plant.<sup id="cite_ref-balk196_41-0" class="reference"><a href="#cite_note-balk196-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> </p><p>Two wind power farms are in operation, Krnovo Wind Farm and Možura Wind Farm which generate a total of 118MW. </p><p>In June 2023 APCG obtained €82m finance to build the Gvozd wind farm which will generate 54.6 MW.<sup id="cite_ref-balk196_41-1" class="reference"><a href="#cite_note-balk196-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> A new wind farm, the Bijela wind farm is planned with 118MW capacity following UAE based Alcazar Energy acquiring the rights in 2023 to spend $200m building the farm.<sup id="cite_ref-42" class="reference"><a href="#cite_note-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> </p><p>In 2023 Montenegro exported around €200m worth of electricity (2022 €140m) becoming the top export item for the country.<sup id="cite_ref-43" class="reference"><a href="#cite_note-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Agriculture">Agriculture</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=11" title="Edit section: Agriculture"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In July 2006 prior to EU integration efforts a survey document was produced by the Ministry of Agriculture, Forestry and Water Management for the EU-funded project <i>Agriculture and Rural Development Strategy of Montenegro</i>.<sup id="cite_ref-seema_44-0" class="reference"><a href="#cite_note-seema-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/Statistical_Office_of_Montenegro" title="Statistical Office of Montenegro">Statistical Office of Montenegro</a> learned as late as November 2021 how to collect its data in formats acceptable to the <a href="/wiki/European_Commission" title="European Commission">European Commission</a>.<sup id="cite_ref-unml_45-0" class="reference"><a href="#cite_note-unml-45"><span class="cite-bracket">[</span>45<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-somc_46-0" class="reference"><a href="#cite_note-somc-46"><span class="cite-bracket">[</span>46<span class="cite-bracket">]</span></a></sup> </p><p>Since 2010 agricultural trade relations between the EU and Montenegro have been governed by the <a href="/w/index.php?title=EU-Montenegro_Stabilisation_and_Association_Agreement&action=edit&redlink=1" class="new" title="EU-Montenegro Stabilisation and Association Agreement (page does not exist)">EU-Montenegro Stabilisation and Association Agreement</a>, and with the exception of beef, sugar and wine all agricultural products originating in Montenegro can enter the EU duty free. The EU has a large agri-food trade surplus with Montenegro, and exports meat, dairy and food preparations. The EU mainly imports vegetables such as mushrooms, wine and oils from Montenegro.<sup id="cite_ref-dgec_47-0" class="reference"><a href="#cite_note-dgec-47"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup> </p><p>It was reported by the EC <a href="/wiki/Directorate-General_for_Agriculture_and_Rural_Development" title="Directorate-General for Agriculture and Rural Development">Directorate-General for Agriculture and Rural Development</a> in March 2019 that the share of agriculture in Montenegro's <a href="/wiki/GDP" class="mw-redirect" title="GDP">GDP</a> was 8%. Agricultural land accounts for 38% of the total. Olives and citrus fruits are grown in the coastal region, while seasonal vegetables and tobacco are produced in the central areas. In the north of the country ungulates dominate the farming.<sup id="cite_ref-dgag_48-0" class="reference"><a href="#cite_note-dgag-48"><span class="cite-bracket">[</span>48<span class="cite-bracket">]</span></a></sup> The largest share of the land consists of pasture and grassland.<sup id="cite_ref-mifad_49-0" class="reference"><a href="#cite_note-mifad-49"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup> </p><p>Montenegro became a member of the <a href="/wiki/UN" class="mw-redirect" title="UN">UN</a> <a href="/wiki/International_Fund_for_Agricultural_Development" title="International Fund for Agricultural Development">International Fund for Agricultural Development</a> (IFAD) in 2015, which notes that the rural population represents one-third of the total. In 2019 the IFAD focused its activities "on the key challenges of better connectivity and higher productivity by (i) fostering the graduation of micro and small agricultural holdings from the current non-viable subsistence-type agriculture toward semi-commercial and commercial agriculture, through investments in pro-poor rural infrastructure, (ii) promoting the aggregation of smallholders within inclusive value chain clusters and (iii) supporting the proactive role of municipalities to deploy investment to promote inclusion for entire sectors of the rural population."<sup id="cite_ref-mifad_49-1" class="reference"><a href="#cite_note-mifad-49"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup> </p><p>Over the years 2009 to 2019 the <a href="/wiki/World_Bank" title="World Bank">World Bank</a> contributed a development project called the <i>Montenegro Institutional Development and Agriculture Strengthening Project</i>, by which (amongst other highlights) the <a href="/w/index.php?title=Food_safety_system&action=edit&redlink=1" class="new" title="Food safety system (page does not exist)">food safety system</a> was upgraded in EU compliant manners, a Border Inspection Post with <a href="/wiki/Veterinary" class="mw-redirect" title="Veterinary">veterinary</a> and <a href="/w/index.php?title=Phyto-sanitary_controls&action=edit&redlink=1" class="new" title="Phyto-sanitary controls (page does not exist)">phyto-sanitary controls</a> was established in the <a href="/wiki/Port_of_Bar" title="Port of Bar">Port of Bar</a>, an electronic farm register was created, procedures for the classification of farm and food establishments were completed according to EU norms, and the Veterinary Diagnostic Laboratory in <a href="/wiki/Podgorica" title="Podgorica">Podgorica</a> was accredited in <a href="/wiki/ISO_17025" class="mw-redirect" title="ISO 17025">ISO 17025</a> analysis methods.<sup id="cite_ref-midas20_50-0" class="reference"><a href="#cite_note-midas20-50"><span class="cite-bracket">[</span>50<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Import/Export_statistics"><span id="Import.2FExport_statistics"></span>Import/Export statistics</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=12" title="Edit section: Import/Export statistics"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1216972533">.mw-parser-output .col-begin{border-collapse:collapse;padding:0;color:inherit;width:100%;border:0;margin:0}.mw-parser-output .col-begin-small{font-size:90%}.mw-parser-output .col-break{vertical-align:top;text-align:left}.mw-parser-output .col-break-2{width:50%}.mw-parser-output .col-break-3{width:33.3%}.mw-parser-output .col-break-4{width:25%}.mw-parser-output .col-break-5{width:20%}@media(max-width:720px){.mw-parser-output .col-begin,.mw-parser-output .col-begin>tbody,.mw-parser-output .col-begin>tbody>tr,.mw-parser-output .col-begin>tbody>tr>td{display:block!important;width:100%!important}.mw-parser-output .col-break{padding-left:0!important}}</style><div> <table class="col-begin" role="presentation"> <tbody><tr> <td class="col-break col-break-2"> <table class="wikitable"> <caption>Imports per year (Source: World Bank) <sup id="cite_ref-worl923_51-0" class="reference"><a href="#cite_note-worl923-51"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup> </caption> <tbody><tr> <th>Year </th> <th>Imports (Billions in US dollars) </th></tr> <tr> <td>2018</td> <td>3.68 </td></tr> <tr> <td>2019</td> <td>3.60 </td></tr> <tr> <td>2020</td> <td>2.91 </td></tr> <tr> <td>2021</td> <td>3.65 </td></tr> <tr> <td>2022</td> <td>4.63 </td></tr></tbody></table> </td> <td class="col-break col-break-2"> <table class="wikitable"> <caption>Exports per year (Source: World Bank) <sup id="cite_ref-worl923_51-1" class="reference"><a href="#cite_note-worl923-51"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup> </caption> <tbody><tr> <th>Year </th> <th>Exports (Billions in US dollars) </th></tr> <tr> <td>2018</td> <td>2.36 </td></tr> <tr> <td>2019</td> <td>2.43 </td></tr> <tr> <td>2020</td> <td>1.24 </td></tr> <tr> <td>2021</td> <td>2.51 </td></tr> <tr> <td>2022</td> <td>3.21 </td></tr></tbody></table> <p>  </p> </td></tr></tbody></table></div> <div class="mw-heading mw-heading2"><h2 id="Trade_agreements">Trade agreements</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=13" title="Edit section: Trade agreements"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Montenegro has free trade agreements with many countries, but not Russia or Belarus.<sup id="cite_ref-52" class="reference"><a href="#cite_note-52"><span class="cite-bracket">[</span>52<span class="cite-bracket">]</span></a></sup> </p> <ul><li><a href="/wiki/Central_European_Free_Trade_Agreement" title="Central European Free Trade Agreement">Central European Free Trade Agreement</a> signed in 2007 giving free trade between Albania, North Macedonia, Moldova, UNMIK/Kosovo, Croatia, Serbia, and Bosnia and Herzegovina.</li> <li>Turkey free trade agreement became effective in 2010</li> <li>Ukraine 2011</li> <li><a href="/wiki/European_Free_Trade_Association" title="European Free Trade Association">European Free Trade Association</a>, signed in 2011 giving free trade with EU countries together with Switzerland, Norway, Iceland, and Liechtenstein</li> <li>USA <i>Most-Favored Nation status</i> from 2003</li></ul> <div class="mw-heading mw-heading2"><h2 id="Minimum_wage">Minimum wage</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=14" title="Edit section: Minimum wage"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>After years with a minimum wage of €288.10 per month, there was a small increase in 2019 to €331.30 before 2022 saw a jump to €532.50, €6,390 p.a.<sup id="cite_ref-53" class="reference"><a href="#cite_note-53"><span class="cite-bracket">[</span>53<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Taxation">Taxation</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=15" title="Edit section: Taxation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>VAT standard rate is 21% in 2022, with some items at 7% and is in line with EU guidelines.<sup id="cite_ref-54" class="reference"><a href="#cite_note-54"><span class="cite-bracket">[</span>54<span class="cite-bracket">]</span></a></sup> </p><p>From 2023, a tax rate of 9% is applied to personal gross income above €700 per month, and a tax rate of 15% for income above €1,000 per month. Montenegrin municipalities also apply an income tax surcharge equivalent to 13-15% of the national tax rate. Social security costs are 15.5%, 6% being borne by the employee.<sup id="cite_ref-55" class="reference"><a href="#cite_note-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=16" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Outline_of_Montenegro#Economy_and_infrastructure_of_Montenegro" title="Outline of Montenegro">Outline of Montenegro#Economy and infrastructure of Montenegro</a></li> <li><a href="/wiki/Geography_of_Montenegro" title="Geography of Montenegro">Geography of Montenegro</a></li> <li><a href="/wiki/Geology_of_Montenegro" title="Geology of Montenegro">Geology of Montenegro</a></li> <li><a href="/wiki/History_of_Montenegro" title="History of Montenegro">History of Montenegro</a></li> <li><a href="/wiki/Economy_of_Serbia_and_Montenegro" title="Economy of Serbia and Montenegro">Economy of Serbia and Montenegro</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="Notes">Notes</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=17" title="Edit section: Notes"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> </div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=18" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239543626"><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/weoselco.aspx?g=2200&sg=All+countries+%2f+Emerging+market+and+developing+economies">"World Economic Outlook Database, April 2019"</a>. <i>IMF.org</i>. <a href="/wiki/International_Monetary_Fund" title="International Monetary Fund">International Monetary Fund</a><span class="reference-accessdate">. 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Retrieved <span class="nowrap">31 August</span> 2023</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Tax+system+in+Montenegro&rft_id=https%3A%2F%2Fimmigrantinvest.com%2Fblog%2Ftaxes-in-montenegro-en%2F%23%3A~%3Atext%3DThe%2520tax%2520rates%2520are%2520the%2520same%2520for%2520citizens%2520and%2520foreigners%2Ctheir%2520worldwide%2520income%2520in%2520Montenegro.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomy+of+Montenegro" class="Z3988"></span></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economy_of_Montenegro&action=edit&section=19" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 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.hlist td ol,.mw-parser-output .navbox .hlist td ul,.mw-parser-output .navbox td.hlist dl,.mw-parser-output .navbox td.hlist ol,.mw-parser-output .navbox td.hlist ul{padding:0.125em 0}.mw-parser-output .navbox .navbar{display:block;font-size:100%}.mw-parser-output .navbox-title .navbar{float:left;text-align:left;margin-right:0.5em}body.skin--responsive .mw-parser-output .navbox-image img{max-width:none!important}@media print{body.ns-0 .mw-parser-output .navbox{display:none!important}}</style><style data-mw-deduplicate="TemplateStyles:r886047488">.mw-parser-output .nobold{font-weight:normal}</style></div><div role="navigation" class="navbox" aria-labelledby="Montenegro_articles409" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Montenegro_topics" title="Template:Montenegro topics"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Montenegro_topics" title="Template talk:Montenegro topics"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Montenegro_topics" title="Special:EditPage/Template:Montenegro topics"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Montenegro_articles409" style="font-size:114%;margin:0 4em"><a href="/wiki/Montenegro" title="Montenegro">Montenegro</a> articles</div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_Montenegro" title="History of Montenegro">History</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li>Roman period <ul><li><a href="/wiki/Praevalitana" title="Praevalitana">Praevalitana</a></li></ul></li> <li><a href="/wiki/Duklja" title="Duklja">Duklja</a></li> <li>Zeta <ul><li><a href="/wiki/Zeta_(crown_land)" title="Zeta (crown land)">under Nemanjići</a></li> <li><a href="/wiki/Zeta_under_the_Bal%C5%A1i%C4%87i" title="Zeta under the Balšići">under Balšići</a></li> <li><a href="/wiki/Zeta_under_the_Crnojevi%C4%87i" title="Zeta under the Crnojevići">under Crnojevići</a></li></ul></li> <li>Venetian period <ul><li><a href="/wiki/Venetian_Albania" title="Venetian Albania">Venetian Albania</a></li></ul></li> <li>French period <ul><li><a href="/wiki/Illyrian_Provinces" title="Illyrian Provinces">Illyrian Provinces</a></li></ul></li> <li>Ottoman period <ul><li><a href="/wiki/Sanjak_of_Montenegro" title="Sanjak of Montenegro">Sanjak</a></li> <li><a href="/wiki/Montenegro_Vilayet" class="mw-redirect" title="Montenegro Vilayet">Vilayet</a></li></ul></li> <li>Austrian period <ul><li><a href="/wiki/Venetian_Province" title="Venetian Province">Venetian Province</a></li> <li><a href="/wiki/Kingdom_of_Dalmatia" title="Kingdom of Dalmatia">Kingdom of Dalmatia</a></li></ul></li> <li><a href="/wiki/Prince-Bishopric_of_Montenegro" title="Prince-Bishopric of Montenegro">Prince-Bishopric</a></li> <li><a href="/wiki/Principality_of_Montenegro" title="Principality of Montenegro">Principality</a></li> <li><a href="/wiki/Kingdom_of_Montenegro" title="Kingdom of Montenegro">Kingdom <span style="font-size:85%;">(1910–18)</span></a></li> <li><a href="/wiki/Kingdom_of_Yugoslavia" title="Kingdom of Yugoslavia">Kingdom of Yugoslavia</a> <ul><li><a href="/wiki/Zeta_Banovina" title="Zeta Banovina">Zeta Banovina</a></li></ul></li> <li><a href="/wiki/World_War_II_in_Yugoslavia" title="World War II in Yugoslavia">World War II</a> <ul><li><a href="/wiki/Italian_governorate_of_Montenegro" title="Italian governorate of Montenegro">Italian governorate of Montenegro</a></li> <li><a href="/wiki/German_occupied_territory_of_Montenegro" class="mw-redirect" title="German occupied territory of Montenegro">German occupied territory of Montenegro</a></li> <li><a href="/wiki/Montenegrin_Anti-Fascist_Assembly_of_National_Liberation" title="Montenegrin Anti-Fascist Assembly of National Liberation">CASNO</a></li></ul></li> <li><a href="/wiki/SFR_Yugoslavia" class="mw-redirect" title="SFR Yugoslavia">SFR Yugoslavia</a> <ul><li><a href="/wiki/Socialist_Republic_of_Montenegro" title="Socialist Republic of Montenegro">Socialist Republic</a></li></ul></li> <li><a href="/wiki/Serbia_and_Montenegro" title="Serbia and Montenegro">Serbia and Montenegro</a> <ul><li><a href="/wiki/Republic_of_Montenegro_(1992%E2%80%932006)" title="Republic of Montenegro (1992–2006)">Federal Republic</a></li></ul></li> <li><a href="/wiki/2006_Montenegrin_independence_referendum" title="2006 Montenegrin independence referendum">2006 independence referendum</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Geography_of_Montenegro" title="Geography of Montenegro">Geography</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_cities_in_Montenegro" title="List of cities in Montenegro">Cities</a></li> <li><a href="/wiki/Geography_of_Montenegro#Statistics" title="Geography of Montenegro">Extreme points</a></li> <li><a href="/wiki/List_of_islands_of_Montenegro" title="List of islands of Montenegro">Islands</a></li> <li><a href="/wiki/List_of_lakes_of_Montenegro" title="List of lakes of Montenegro">Lakes</a></li> <li><a href="/wiki/List_of_mountains_in_Montenegro" title="List of mountains in Montenegro">Mountains</a></li> <li><a href="/wiki/List_of_national_parks_of_Montenegro" title="List of national parks of Montenegro">Protected areas</a></li> <li><a href="/wiki/Statistical_regions_of_Montenegro" title="Statistical regions of Montenegro">Regions</a></li> <li><a href="/wiki/List_of_rivers_of_Montenegro" title="List of rivers of Montenegro">Rivers</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Politics_of_Montenegro" title="Politics of Montenegro">Politics</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Constitution_of_Montenegro" title="Constitution of Montenegro">Constitution</a></li> <li><a href="/wiki/Elections_in_Montenegro" title="Elections in Montenegro">Elections</a></li> <li><a href="/wiki/Foreign_relations_of_Montenegro" title="Foreign relations of Montenegro">Foreign relations</a></li> <li><a href="/wiki/Armed_Forces_of_Montenegro" title="Armed Forces of Montenegro">Military</a></li> <li><a href="/wiki/Municipalities_of_Montenegro" title="Municipalities of Montenegro">Municipalities</a></li> <li><a href="/wiki/Government_of_Montenegro" title="Government of Montenegro">Government</a> <ul><li><a href="/wiki/Prime_Minister_of_Montenegro" title="Prime Minister of Montenegro">Prime Minister</a></li></ul></li> <li><a href="/wiki/President_of_Montenegro" title="President of Montenegro">President</a> <ul><li><a href="/wiki/List_of_heads_of_state_of_Montenegro" title="List of heads of state of Montenegro">List</a></li></ul></li> <li><a href="/wiki/Parliament_of_Montenegro" title="Parliament of Montenegro">Parliament</a> <ul><li><a href="/wiki/President_of_the_Parliament_of_Montenegro" title="President of the Parliament of Montenegro">Speaker</a></li></ul></li> <li><a href="/wiki/List_of_political_parties_in_Montenegro" title="List of political parties in Montenegro">Political parties</a></li> <li><a href="/wiki/National_Security_Agency_(Montenegro)" title="National Security Agency (Montenegro)">Intelligence agency</a></li> <li><a href="/wiki/Law_enforcement_in_Montenegro" class="mw-redirect" title="Law enforcement in Montenegro">Law enforcement</a></li> <li>Human rights <ul><li><a href="/wiki/Freedom_of_religion_in_Montenegro" title="Freedom of religion in Montenegro">Religion</a></li> <li><a href="/wiki/LGBT_rights_in_Montenegro" class="mw-redirect" title="LGBT rights in Montenegro">LGBT rights</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a class="mw-selflink selflink">Economy</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Central_Bank_of_Montenegro" title="Central Bank of Montenegro">Central Bank</a></li> <li><a href="/wiki/List_of_companies_of_Montenegro" title="List of companies of Montenegro">Companies</a></li> <li><a href="/wiki/Euro" title="Euro">Euro <span style="font-size:85%;">(currency)</span></a></li> <li><a class="mw-selflink selflink">Economy of Montenegro</a></li> <li><a href="/wiki/Telecommunications_in_Montenegro" title="Telecommunications in Montenegro">Telecommunications</a> <ul><li><a href="/wiki/List_of_mobile_network_operators_of_Europe#Montenegro" class="mw-redirect" title="List of mobile network operators of Europe">Mobile network operators</a></li></ul></li> <li><a href="/wiki/Tourism_in_Montenegro" title="Tourism in Montenegro">Tourism</a></li> <li><a href="/wiki/Transport_in_Montenegro" title="Transport in Montenegro">Transport</a> <ul><li><a href="/wiki/Rail_transport_in_Montenegro" title="Rail transport in Montenegro">Rail</a></li></ul></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Category:Society_of_Montenegro" title="Category:Society of Montenegro">Society</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Crime_in_Montenegro" title="Crime in Montenegro">Crime</a></li> <li><a href="/wiki/Demographics_of_Montenegro" title="Demographics of Montenegro">Demographics</a></li> <li><a href="/wiki/Education_in_Montenegro" title="Education in Montenegro">Education</a></li> <li><a href="/wiki/Languages_of_Montenegro" title="Languages of Montenegro">Languages</a></li> <li><a href="/wiki/Montenegrins" title="Montenegrins">Montenegrins</a> <ul><li><a href="/wiki/List_of_Montenegrins" title="List of Montenegrins">List</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;padding-left:0.5em;padding-right:0.5em;font-weight:normal;"><a href="/wiki/Culture_of_Montenegro" title="Culture of Montenegro">Culture</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Montenegrin_Academy_of_Sciences_and_Arts" title="Montenegrin Academy of Sciences and Arts">Academy</a></li> <li><a href="/wiki/Architecture_of_Montenegro" title="Architecture of Montenegro">Architecture</a></li> <li><a href="/wiki/Cinema_of_Montenegro" class="mw-redirect" title="Cinema of Montenegro">Cinema</a></li> <li><a href="/wiki/Montenegrin_cuisine" title="Montenegrin cuisine">Cuisine</a> <ul><li><a href="/wiki/Montenegrin_wine" title="Montenegrin wine">Wine</a></li></ul></li> <li><a href="/wiki/Montenegrin_folklore" class="mw-redirect" title="Montenegrin folklore">Folklore</a></li> <li><a href="/wiki/Literature_of_Montenegro" class="mw-redirect" title="Literature of Montenegro">Literature</a></li> <li><a href="/wiki/Music_of_Montenegro" class="mw-redirect" title="Music of Montenegro">Music</a></li> <li><a href="/wiki/Media_in_Montenegro" class="mw-redirect" title="Media in Montenegro">Media</a> <ul><li><a href="/wiki/Montenegrin_News_Agency" title="Montenegrin News Agency">News Agency</a></li> <li><a href="/wiki/List_of_newspapers_in_Montenegro" title="List of newspapers in Montenegro">Newspapers</a></li> <li><a href="/wiki/Television_in_Montenegro" title="Television in Montenegro">TV</a></li> <li><a href="/wiki/Radio_in_Montenegro" class="mw-redirect" title="Radio in Montenegro">Radio</a></li></ul></li> <li><a href="/wiki/Religion_in_Montenegro" title="Religion in Montenegro">Religion</a></li> <li><a href="/wiki/Sport_in_Montenegro" title="Sport in Montenegro">Sport</a></li> <li><a href="/wiki/List_of_World_Heritage_Sites_in_Montenegro" title="List of World Heritage Sites in Montenegro">World Heritage Sites</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;padding-left:0.5em;padding-right:0.5em;font-weight:normal;"><a href="/wiki/National_symbols_of_Montenegro" title="National symbols of Montenegro">Symbols</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Oj,_svijetla_majska_zoro" title="Oj, svijetla majska zoro">Anthem</a></li> <li><a href="/wiki/Coat_of_arms_of_Montenegro" title="Coat of arms of Montenegro">Coat of arms</a> <ul><li><a href="/wiki/Armorial_of_Montenegro" title="Armorial of Montenegro">List</a></li></ul></li> <li><a href="/wiki/Flag_of_Montenegro" title="Flag of Montenegro">Flag</a> <ul><li><a href="/wiki/List_of_flags_of_Montenegro" title="List of flags of Montenegro">List</a></li></ul></li> <li><a href="/wiki/Name_of_Montenegro" class="mw-redirect" title="Name of Montenegro">Name</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2" style="font-weight:bold;"><div><div style="margin-bottom:-0.4em;"><ul><li><span class="nobold"><a href="/wiki/Outline_of_Montenegro" title="Outline of Montenegro">Outline</a></span></li></ul></div> <ul><li><a href="/wiki/Category:Montenegro" title="Category:Montenegro">Category</a></li></ul></div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" 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href="/wiki/Special:EditPage/Template:Central_European_Free_Trade_Agreement" title="Special:EditPage/Template:Central European Free Trade Agreement"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Members_of_the_Central_European_Free_Trade_Agreement102" style="font-size:114%;margin:0 4em"><a href="/wiki/Central_European_Free_Trade_Agreement#Members" title="Central European Free Trade Agreement">Members of the Central European Free Trade Agreement</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Economy_of_Albania" title="Economy of Albania">Albania</a></li> <li><a href="/wiki/Economy_of_Bosnia_and_Herzegovina" title="Economy of Bosnia and Herzegovina">Bosnia and Herzegovina</a></li> <li><a href="/wiki/Economy_of_Kosovo" title="Economy of Kosovo">Kosovo</a></li> <li><a href="/wiki/Economy_of_Moldova" title="Economy of Moldova">Moldova</a></li> <li><a class="mw-selflink selflink">Montenegro</a></li> <li><a href="/wiki/Economy_of_North_Macedonia" title="Economy of North Macedonia">North Macedonia</a></li> <li><a href="/wiki/Economy_of_Serbia" title="Economy of Serbia">Serbia</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Economy_of_Europe122" style="padding:3px"><table class="nowraplinks mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Economy_of_Europe" title="Template:Economy of Europe"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Economy_of_Europe" title="Template talk:Economy of Europe"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Economy_of_Europe" title="Special:EditPage/Template:Economy of Europe"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Economy_of_Europe122" style="font-size:114%;margin:0 4em"><a href="/wiki/Economy_of_Europe" title="Economy of Europe">Economy of Europe </a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Sovereign states</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Economy_of_Albania" title="Economy of Albania">Albania</a></li> <li><a href="/wiki/Economy_of_Andorra" title="Economy of Andorra">Andorra</a></li> <li><a href="/wiki/Economy_of_Armenia" title="Economy of Armenia">Armenia</a></li> <li><a href="/wiki/Economy_of_Austria" title="Economy of Austria">Austria</a></li> <li><a href="/wiki/Economy_of_Azerbaijan" title="Economy of Azerbaijan">Azerbaijan</a></li> <li><a href="/wiki/Economy_of_Belarus" title="Economy of Belarus">Belarus</a></li> <li><a href="/wiki/Economy_of_Belgium" title="Economy of Belgium">Belgium</a></li> <li><a href="/wiki/Economy_of_Bosnia_and_Herzegovina" title="Economy of Bosnia and Herzegovina">Bosnia and Herzegovina</a></li> <li><a href="/wiki/Economy_of_Bulgaria" title="Economy of Bulgaria">Bulgaria</a></li> <li><a href="/wiki/Economy_of_Croatia" title="Economy of Croatia">Croatia</a></li> <li><a href="/wiki/Economy_of_Cyprus" title="Economy of Cyprus">Cyprus</a></li> <li><a href="/wiki/Economy_of_the_Czech_Republic" title="Economy of the Czech Republic">Czech Republic</a></li> <li><a href="/wiki/Economy_of_Denmark" title="Economy of Denmark">Denmark</a></li> <li><a href="/wiki/Economy_of_Estonia" title="Economy of Estonia">Estonia</a></li> <li><a href="/wiki/Economy_of_Finland" title="Economy of Finland">Finland</a></li> <li><a href="/wiki/Economy_of_France" title="Economy of France">France</a></li> <li><a href="/wiki/Economy_of_Georgia_(country)" title="Economy of Georgia (country)">Georgia</a></li> <li><a href="/wiki/Economy_of_Germany" title="Economy of Germany">Germany</a></li> <li><a href="/wiki/Economy_of_Greece" title="Economy of Greece">Greece</a></li> <li><a href="/wiki/Economy_of_Hungary" title="Economy of Hungary">Hungary</a></li> <li><a href="/wiki/Economy_of_Iceland" title="Economy of Iceland">Iceland</a></li> <li><a href="/wiki/Economy_of_the_Republic_of_Ireland" title="Economy of the Republic of Ireland">Ireland</a></li> <li class="mw-empty-elt"></li> <li><a href="/wiki/Economy_of_Italy" title="Economy of Italy">Italy</a></li> <li><a href="/wiki/Economy_of_Kazakhstan" title="Economy of Kazakhstan">Kazakhstan</a></li> <li><a href="/wiki/Economy_of_Latvia" title="Economy of Latvia">Latvia</a></li> <li><a href="/wiki/Economy_of_Liechtenstein" title="Economy of Liechtenstein">Liechtenstein</a></li> <li><a href="/wiki/Economy_of_Lithuania" title="Economy of Lithuania">Lithuania</a></li> <li><a href="/wiki/Economy_of_Luxembourg" title="Economy of Luxembourg">Luxembourg</a></li> <li><a href="/wiki/Economy_of_Malta" title="Economy of Malta">Malta</a></li> <li><a href="/wiki/Economy_of_Moldova" title="Economy of Moldova">Moldova</a></li> <li><a href="/wiki/Economy_of_Monaco" title="Economy of Monaco">Monaco</a></li> <li><a class="mw-selflink selflink">Montenegro</a></li> <li><a href="/wiki/Economy_of_the_Netherlands" title="Economy of the Netherlands">Netherlands</a></li> <li><a href="/wiki/Economy_of_North_Macedonia" title="Economy of North Macedonia">North Macedonia</a></li> <li><a href="/wiki/Economy_of_Norway" title="Economy of Norway">Norway</a></li> <li><a href="/wiki/Economy_of_Poland" title="Economy of Poland">Poland</a></li> <li><a href="/wiki/Economy_of_Portugal" title="Economy of Portugal">Portugal</a></li> <li><a href="/wiki/Economy_of_Romania" title="Economy of Romania">Romania</a></li> <li><a href="/wiki/Economy_of_Russia" title="Economy of Russia">Russia</a></li> <li><a href="/wiki/Economy_of_San_Marino" title="Economy of San Marino">San Marino</a></li> <li><a href="/wiki/Economy_of_Serbia" title="Economy of Serbia">Serbia</a></li> <li><a href="/wiki/Economy_of_Slovakia" title="Economy of Slovakia">Slovakia</a></li> <li><a href="/wiki/Economy_of_Slovenia" title="Economy of Slovenia">Slovenia</a></li> <li><a href="/wiki/Economy_of_Spain" title="Economy of Spain">Spain</a></li> <li><a href="/wiki/Economy_of_Sweden" title="Economy of Sweden">Sweden</a></li> <li><a href="/wiki/Economy_of_Switzerland" title="Economy of Switzerland">Switzerland</a></li> <li><a href="/wiki/Economy_of_Turkey" title="Economy of Turkey">Turkey</a></li> <li><a href="/wiki/Economy_of_Ukraine" title="Economy of Ukraine">Ukraine</a></li> <li><a href="/wiki/Economy_of_the_United_Kingdom" title="Economy of the United Kingdom">United Kingdom</a></li> <li><a href="/wiki/Economy_of_Vatican_City" title="Economy of Vatican City">Vatican City</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">States with limited<br />recognition</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Economy_of_Abkhazia" title="Economy of Abkhazia">Abkhazia</a></li> <li><a href="/wiki/Economy_of_Kosovo" title="Economy of Kosovo">Kosovo</a></li> <li><a href="/wiki/Economy_of_Northern_Cyprus" title="Economy of Northern Cyprus">Northern Cyprus</a></li> <li><a href="/wiki/Economy_of_South_Ossetia" class="mw-redirect" title="Economy of South Ossetia">South Ossetia</a></li> <li><a href="/wiki/Economy_of_Transnistria" class="mw-redirect" title="Economy of Transnistria">Transnistria</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Dependencies and<br />other entities</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Economy_of_%C3%85land" class="mw-redirect" title="Economy of Åland">Åland</a></li> <li><a href="/wiki/Economy_of_the_Faroe_Islands" title="Economy of the Faroe Islands">Faroe Islands</a></li> <li><a href="/wiki/Economy_of_Gibraltar" title="Economy of Gibraltar">Gibraltar</a></li> <li><a href="/wiki/Economy_of_Guernsey" class="mw-redirect" title="Economy of Guernsey">Guernsey</a></li> <li><a href="/wiki/Economy_of_the_Isle_of_Man" title="Economy of the Isle of Man">Isle of Man</a></li> <li><a href="/wiki/Economy_of_Jersey" title="Economy of Jersey">Jersey</a></li> <li><a href="/wiki/Economy_of_Svalbard" 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