 Montenegro
is a country that lies in the Southeastern Europe. On
the southwest of the country lies the Adriatic Sea and
on its west, there is Croatia. Podgorica may be its
capital city and the largest city in the country, but
people consider Cetinje to be the royal capital city of
Montenegro.
This nation has a service based market and
as such, its economy is dependent on the service
sectors. The service sector made up about 3/4th of the
country’s GDP in the year 2007.
Most of the industries in Montenegro consist of
agricultural processing, steel production and aluminum
production. The tourism industry is also very vital to
the economy of the country.
As Montenegro has
mountainous northern region and scenic coast, it is a
great place for the growth of different types of
tourism. The country gets many tourists from all over
the world.
In the year 2007, it was found that about one
million tourists visited the country. This is the reason
why the country is depending on tourism for future
economic development.
The economy is too dependent on
foreign investments and it is because of this that it is
vulnerable to external shocks. In addition to this, the
country also has a high import/export deficit.
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