Economy
Montenegro’s cargo system leans on imports as industry contracts and transport flows skew
Montenegro’s trade deficit is increasingly reflected in logistics, with inbound cargo volumes outpacing exports and road freight carrying most import distribution. Weakening manufacturing and mining—despite a…
Montenegro’s trade deficit deepens in 2025 as imports rise faster than exports
Montenegro’s foreign trade expanded in 2025, but the gain was driven largely by imports. Exports fell while import growth accelerated, pushing the trade deficit higher and…
Montenegro industrial turnover strengthens in early 2026 as manufacturing and exports lead
Industrial turnover in Montenegro rose year-on-year in early 2026, with manufacturing and export-linked demand increasingly driving the recovery. Still, the country’s narrow industrial base keeps volatility…
Montenegro pivots to export-led power deals as EU pushes cross-border PPAs
A European Commission recommendation in April 2026 arrives as Montenegro’s energy strategy shifts from domestic balancing toward financing clean generation through export-oriented power purchase agreements. With…
Domestic investors seize the steering wheel of Serbia’s commercial real estate market
Serbia’s commercial real estate market remains steady in size, but the balance of power has shifted. Domestic and regional investors now account for roughly 40% or…
Serbia’s growth model faces rising systemic risk from capital, EU demand and energy imports
Serbia’s 2026 outlook rests on moderate growth, controlled inflation and manageable public debt, but its resilience increasingly depends on external financing, European export demand and imported…
Serbia’s SME sector splits into a two-speed economy as energy, credit and EU-aligned compliance bite
Serbia’s SMEs are entering 2026 as a more differentiated landscape: export-oriented firms with stronger balance sheets keep expanding, while many domestically focused businesses face rising energy…
Serbia’s services boom becomes the stabilizer of an investment- and energy-driven economy
As Serbia leans further into capital-intensive infrastructure, energy projects and export manufacturing, its services sector—especially digital and ICT—has grown into the main stabilizing force. With services…
Serbia’s trade model shifts as EU dependence meets carbon and diversification pressures
Serbia’s exports remain heavily tilted toward the EU, but carbon pricing and regulatory tightening are changing the economics of selling into Europe. At the same time,…
Serbia’s infrastructure-led growth faces a new test: execution at scale
Serbia’s 2026 expansion is increasingly powered by infrastructure spending, with capital expenditure rising to roughly 6.5–7.0% of GDP. But as the project pipeline expands, delivery capacity—on…