Montenegro's industrial output climbs 22% y/y in May 2013

By bne IntelliNews June 17, 2013

Montenegro's industrial production increased 22.4% y/y in May, speeding up from a 14.2% rise the month before on the back of growing utilities output, which offset falling manufacturing and mining and quarrying production, the statistics office said. In monthly terms, however, industrial output shrank 20.7% in May, swinging from a 10.6% m/m increase in April.

The annual decline of manufacturing production in May narrowed to 6.3% from 28.0% the previous month as falling basic metals output was partly offset by  rising food, beverages and pharmaceutical products output. The mining and quarrying production remained in the red in May, shrinking 11.5% y/y, due to lower coal and lignite extraction. The drop in manufacturing and mining and quarrying, however, was largely offset by surging utilities production in May (up 133%), marking its eight straight monthly expansion.

Montenegro's industrial output dropped 7.1% in 2012, due to weak manufacturing sector activity. The country’s steel and aluminium production was heavily dented by difficulties in state-owned steel mill Zeljezara Niksic and Montenegro’s sole aluminium smelter KAP. Podgorica’s commercial court recently launched proceedings for opening bankruptcy at KAP.

A possible closure of the aluminium smelter will heavily affect Montenegro’s industrial output and exports as well as their respective contributions the GDP. On the other hand, steel production might benefit from investments in Zeljezara Niksic by Turkey's Toscelik. The Turkish company acquired the troubled steel mill for EUR 15.1mn in May 2012.

Related Articles

Montenegro’s PM confirms readiness to join Nato - despite shove from Trump at alliance summit

Montenegro’s Prime Minister Dusko Markovic said on May 25 that the Adriatic country is fully prepared to ... more

Ex-Montenegrin President Marovic missing after receiving prison sentence

Montenegro’s court issued an arrest warrant on May 12 for former President Svetozar Marovic who has not been found in his hometown and has not ... more

Adriatic ports hit by Venice tourist clampdown

The number of cruise ships visiting Dubrovnik and other Croatian ports is set to fall dramatically in 2017, a new report presented at the Adriatic Sea Forum has revealed.  As the historic ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss