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NewsMontenegro, Economy recorded excellent results this year

Montenegro, Economy recorded excellent results this year

“Tourism, when it comes to official data, will reach one billion euros in revenue, and it is very likely that we have already exceeded this figure,” said the minister.

Minister of Economic Development and Tourism Goran Đurović said that the Montenegrin economy recorded excellent results this year, according to numerous indicators.

Among other things, Đurović stated in the announcement that the total export of goods in the period January – October amounted to 576.6 million euros, which, he points out, is almost 70 percent more than last year’s export for the same period. For the sake of comparison, he adds, exports for the whole of 2019 amounted to 415.5 million euros.

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When it comes to the coverage of imports by exports, in 2022 it amounts to 19.6 percent, which is the highest value in the last nine years. According to the minister, the coverage of imports by exports has increased by three percentage points compared to the same period of the previous year.

It also Indicates that, according to Monstat’s preliminary data, the gross domestic product (GDP) of Montenegro grew by 3.2 percent in the third quarter. It amounted to 1.82 billion euros, while in the same period last year it was 1.59 billion euros. The real growth rate in the European Union is 2.4 percent.

“When it comes to tourism, according to the latest Monstat data, 1,078,787 tourists (59.2 percent more compared to the same period in 2021) and 4,106,253 overnight stays (46 percent more in compared to the same period in 2021). Comparing with the same period of the record year 2019, a 90 percent achievement was recorded when it came to tourist arrivals, as well as a 91.2 percent achievement when it came to realized overnight stays,” Đurović states.

According to data from the Central Bank, as of the third quarter of this year, revenues generated from foreign tourists reached 916 million euros, which is at the level of 90 percent fulfillment compared to the same period in 2019.

“Considering that this data does not include the consumption of domestic tourists, and that there is still one whole quarter left until the end of the year, we are sure that tourism, when it comes to official data, will reach one billion euros in revenue, and it is very likely that we have already crossed this figure keeping in mind the date”, Đurović concluded, local media writes.

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