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Economy and business in Montenegro

The industrial base in Montenegro has traditionally been based on sheep and goat breeding. Tourist traffic has traditionally been of great importance on the coast, but the industry was sharply reduced in the 1990s due to the political situation.

Business and Economy of Montenegro

At independence in 1991, Montenegro was the least developed of the Yugoslav republics. Until 1996, there was little economic development.

From the mid-1990s, Montenegro has enjoyed steady economic growth. Inflation is low, but unemployment is high. Investments from abroad remain at a high level. Many foreign players have invested in the tourism industry.

According to countryaah, Montenegro has privatized its large aluminum industry.

Agriculture and forestry

Montenegro generally has a small agricultural sector, mostly near the coast where the Mediterranean climate makes it possible to grow olives, citrus fruits, grapes and rice. The arable farm is concentrated to valleys and poles, and is partly favorable to the water. At Zetasletta, north of Lake Scutari, corn, potatoes, wheat, tobacco, fruit and grapes are grown. Some livestock (sheep, cattle, pigs). In the highlands it is widespread with animal husbandry of goats and sheep.

Mining and energy

It breaks down lignite and bauxite, among others.

Industry

The industry is dominated by the aluminum, iron, steel and metal industries. Large production of semi-finished products. Also part of the textile industry, including cotton yarn production.

Transport and Communications

The road network is relatively well developed and is approx. 7300 km (2008). There were the same year approx. 250 km of railway. The main connection goes from the town of Bar on the Adriatic coast, through the capital Podgorica, and further north to Serbia. Main port cities are Bar and Kotor.

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