Official Central Bank of Montenegro (CBCG) data show that the net FDI inflow amounted to 782.63 million euros in 2022, an increase of 34.56% compared to the previous year.

Total FDI inflow amounted to 1,151.42 million euros (a growth of 24.07%) due to an increase in equity investments and investments in the form of intercompany debt.

The monthly inflow of total FDI in Montenegro`s balance of payments, in thousand euros
Source: Central Bank of Montenegro

Inflow in the form of equity investments amounted to 667.42 million euros or 57.96% of the total recorded FDI inflow.
In the structure of equity investments, investments in companies and banks accounted for 219.40 million euros (a 2.01% increase), while investments in real estate amounted to 448.02 million euros (a 60.99% growth).

Inflow in the form of intercompany debt amounted to 401.54 million euros or 34.87% of the total FDI inflow, which is 24.15% more than in the previous year.

Structure of total FDI inflow in Montenegro`s balance of payments, January – December 2022, in %. Source: Central Bank of Montenegro

Total FDI outflow amounted to 368.79 million euros in 2022, 6.45% more than the previous year.
Outflow arising from residents’ investments abroad amounted to 132.42 million euros, while the withdrawal of non-residents’ funds invested in Montenegro totaled 236.37 million euros.

Promising Economic Indicators and Projections in the first quarter of 2023

After a very successful 2022, the first quarter of 2023 has promising economic indicators and projections.

According to the latest Economic Projections Report, the World Bank has upheld its growth projections for the Montenegrin economy for this year and the following year.
In January, the World Bank estimated that Montenegro’s gross domestic product (GDP) would experience a growth rate of 3.4% this year, with a slight moderation to 3.1% next year.
These figures have remained unchanged in the new report published on the World Bank’s website.

This steady forecast reflects the stability and resilience of Montenegro’s economy, which continues to attract local and international investors.
It highlights the ongoing efforts of the Montenegrin government to implement strategic economic reforms and foster an environment conducive to sustainable growth.

The Government of Montenegro published the data from EUROSTAT about the GDP growth rate for the first quarter of 2023, and Montenegro has the second biggest rate after the Island.

Tourism is one of the main contributors to Montenegrin’s GDP, and we already have positive trends in 2023.
In the first three months, according to the preliminary data, tourist arrivals in Montenegro were almost 60% higher than in the same period of the previous year.
This information encourages the expectations of tourism officials that this summer tourist season will surpass the record from 2019.

In conclusion of all of these indicators and results, Montenegro’s stable economic outlook and favorable investment climate make it an ideal choice for businesses seeking long-term growth prospects in Southeast Europe.


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