Montenegro: Economy

Since 2002 the main currency in the country has been Euro. Previously, it was Deutschemark. Tourist may take in and out of the country the amount not exceeding two hundred Euros without custom declaration. If the amount is higher, foreigners will be offered to declare it. However, first of all, the foreigner shall provide the respective declaration confirming that he or she took in Montenegro the same amount. But a good way out of this situation is entry in the state with a plastic banking card. However, it shall be noted that you will be able to pay for the goods with a plastic card not in all stores.


Economy of the country develops very fast. Support of the European Commonwealth plays an important part for its development, and it is a good basis for foreign investments.


The basis of the state economy is agriculture, heavy industry (machine building, ferrous metallurgy), raw materials industry (aluminum and lead-zinc ore, bauxites), textile industry, ship-building and ship-repairing, food and light industry as well as wood working. The most population is concentrated in the cities. The most populated cities are Tsetinye, Podgoritsa, and Nikshich. The industry is supplied with power by two hydro-electric power plants located in Piva and Perutsitsa, and one in Plevla.


The agricultural industry of Montenegro has one main advantage – there is no industrial pollution, and the products are cultivated absolutely ecologically clean. The main product item is tobacco. The production of vegetable crops (cucumbers, tomatoes, pepper), fruit (citrus, grape, and apples), cattle breeding and winemaking are developed in the state.


Tourism is very important for Montenegrin economy. The efforts aimed at development of its infrastructure: communication, roads, entertainment and recreation areas, hotels, historical monuments and other, gather pace often due to participation of businessmen from Russia. Alongside with that, solicitous and reverent attitude to environment is the basis of the local authorities’ policy.


There are many trans-European highways on the territory of the state: Е762, Е65, Е80, Е851, Е763. There are six airports in the country; two of them have international status (Tivat, Podgoritsa). The capital is linked with Shkodër and Belgrade by rail communication.