Montenegro: Selected IssuesInternational Monetary Fund, 8 мар. 2016 г. - Всего страниц: 13 This paper focuses on Montenegro’s export sector performance and challenges. Montenegro has run a persistent trade deficit since its independence. Montenegro’s goods exports have decreased, while goods imports have been more or less stable. A comparison reveals a relatively weak recovery of goods exports for Montenegro. Montenegro’s goods exports to the euro area have declined over time despite euroization. Foreign demand explains services exports well, but less so goods exports. Business climate surveys indicate high nonprice barriers in Montenegro’s export sector. The share of high-value-added export goods has been diminishing over time. Services exports also signal narrow productivity gains. Weak productivity growth may hinder the export sector. |
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addition Adjusted R-squared aluminum production area have declined balance boost Bosnia and Herzegovina business climate commodity prices comparison Constant countries crisis Croatia Czech Republic decline denotes Despite Euroization distance Distance measurement DOTS economies euro area excluding non-ferrous metals explain Montenegro’s export destinations EXPORT PERFORMANCE export sector export share external fell Figure foreign demand model foreign income levels further high value added Hungary IMF staff calculations IMF staff estimations implying imports improved increasing independence indicating Italy Kosovo log log log lower Macedonia measures MONSTAT Montenegro Montenegro’s export Montenegro’s export sector Montenegro’s goods exports NMS countries non-price barriers overnight stays peers percent of GDP percent of total plays ranking recovery regional relative prices Report represented respectively Russia separate Serbia services exports significant significantly Slovenia Source squared Statistics strongly suggesting surveys Table Terms of trade total goods exports tourism trade balance trade weighted GDP weak Western Balkan