Current Account Balance: Montenegro

Analysis# Montenegro Current Account Balance Montenegro's current account deficit stands at -17.5% of GDP in 2026, reflecting a structural imbalance in the nation's external finances. Since 2001, the deficit has widened by 28.7 percentage points, moving considerably away from the -6.9% peak recorded in 2003. The 2008 financial crisis triggered an extreme low of -49.5%, a period from which Montenegro has only partially recovered over the subsequent two decades. The recent decade reveals volatile swings rather than steady improvement. A sharp deterioration occurred in 2020, reaching -26.3% amid pandemic disruptions, followed by a temporary recovery to -9.3% in 2021. However, deficits have since re-widened, fluctuating between -11.2% and -18.1% from 2023 onwards. The 2026 projection of -17.5% suggests Montenegro's external imbalance remains substantial, with limited signs of convergence toward sustainable levels.