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PROFILE: Montenegro



Country Facts

 Montenegro, which means Black Mountain, began in the 12th century as a highland region of the Serbian province of Zeta.

 

  • 1496 - Came under Ottoman control. It was a semi-autonomous theocracy ruled by a series of bishop princes. 

  • 1852 - Became a secular principality. 

  • 1878 - Became an independent sovereign principality.

  • 1918 - Absorbed by the kingdom consisting of Serbs, Croats and Slovenes.

  • 1929 - Became part of the Kingdom of Yugoslavia.

  • 1945 - Joined the Socialist Federal Republic of Yugoslavia (SFRY).

  • 1992 - SFRY dissolved. Montenegro and Serbia created the Federal Republic of Yugoslavia.

  • 2003 - SFRY became the State Union of Serbia & Montenegro.

  • 2006 - Montenegro became Independent.

  • 2010 - Montenegro became an EU candidate.

  • 2017 - Joined NATO. 

 

Background Information

 

  • Location - Southeastern Europe, between the Adriatic Sea and Serbia.  Bordered by Albania, Bosnia and Herzegovina, Croatia, Kosovo and Serbia

  • Government Type - Parliamentary Republic

  • Capital City: Podgorica (Note: The city of Cetinje retains the status of "Old Royal Capital")

  • Literacy Rate: 98.98%

  • Size: Slightly smaller than Connecticut

  • Population: 602,445 (2023 est.)

  • Population Growth Rate: - 0.43 (2023 est.) 


The Economy

 

  • Unemployment Rate: 15.25 % (2022 est.)

  • GDP - $6.23B (2022)

  • GDP Growth Rate - 6.41% (2022 est.)

  • Labor Force - 284,000 (2022 est.)

  • Labor Force Breakdown: Services - 76%, Industry - 17.6% - Agriculture - 7.4% (2021)   

  • Major Industries: Steel, Aluminum, Mining, Agriculture, Food Processing, Consumer Goods, Tourism

  • Agricultural Products: Milk, Potatoes, Cabbage and other vegetables, Olives, Tomatoes, Grapes, Watermelons, Apples, Wheat and Barley


International Trade

 

Total Product Exports: $1.32B (2022 est.)


Major Product Exports: copper ore - $335M, electricity - $262M, - aluminum $237M, packaged medicines - $43.9M (2022)


Major Export Partners (2022):

  • South Korea - $321M

  • Serbia -$159M

  • Italy - $125M  

  • Switzerland - $116M

  • Bosnia & Herzegovina - $95.5M

     

Total Product Imports: $4.73B (2022 est.)


Major Product Imports: electricity - $592M, refined petroleum $419M, cars -$148M, packaged medicines $110M (2022)


Major Import Partners (2022)

  • China - $387M

  • Italy - $378M

  • Croatia - $330M

  • Greece - $317M


English language News site

     The Montenegro Times - general news - themontenegrotimes.com

 

Sampling of companies

  • Uniprom KAP: aluminum logs and alloys - Podgorica

  • VOLI: food retailer and wholesaler - Podgorica

  • Konatar Company: large wholesaler - Niksic

  • Trebjesa Brewery: beer - Niksic

  • Ramini Company: marble, granite and stones production - Niksic

  • Plantaze: winery - Podgorica

  • Milovic Company:  large construction contractor - Niksic

  • Rudnici Boksita Niksic: bauxite mine - Niksic

  • Jugopetrol: AD Podgorica - petroleum exploration and production - Podgorica

  • Di Air: airlines - Podgorica 

  • OKI Air International: airlines - Podgorica

  • Telenor Montenegro: mobile telecommunications - Podgorica 

 

National Holidays: 2024

  • New Year’s Day: January 1 & 2

  • Orthodox Christmas - January 8

  • First Day of Ramadan - March 10

  • Eid al-Fitr - April 9

  • Labor Day - May 1 & 2

  • May 3 - Orthodox Good Friday

  • May 5-6 - Orthodox Easter

  • May 21-22 - Independence Day

  • November 13 - Njegos Day


By Paul Mastilak

InterMark3, Inc.

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