The Central Bank of Montenegro (CBCG) has released preliminary data indicating a substantial outflow of foreign investment, amounting to €413.18 million. This figure reflects notable capital movements within the Montenegrin economy, despite the foreign direct investment (FDI) inflows remaining strong during the first eleven months of the previous year.
According to the CBCG’s bulletin, total FDI inflows reached €867.15 million, marking an increase of 8.08 percent compared to the same period in the prior year. After accounting for outflows, the net FDI inflow was recorded at €453.97 million, indicating modest growth relative to the previous year.
The outflows were primarily composed of two components: investments by Montenegrin residents abroad, totaling €111.23 million, and withdrawals by non-resident investors amounting to €301.95 million. The latter constituted the majority of the total outflow.
On the inflow side, equity investments accounted for a significant portion, with €543.6 million, or approximately 62.7 percent of total FDI. The real estate sector attracted the largest share of these investments, totaling €437.93 million, while investments in companies and banks reached €105.67 million.
Additional inward investment was facilitated through intercompany debt financing, which amounted to €287.73 million — representing nearly a 10 percent increase from the corresponding period in the previous year. The remaining investment flows were linked to other instruments associated with capital withdrawals and returns from abroad.
These statistics reflect ongoing foreign investor interest in Montenegro’s economy, particularly within the real estate and corporate sectors. However, they also highlight significant capital mobility in both directions, with non-resident fund withdrawals notably influencing cross-border investment dynamics and impacting the country’s external financial position as it seeks deeper integration into European markets.
