In the first six months of 2025, remittances sent to Montenegro from abroad reached €433 million, nearly double the net inflow from foreign direct investments, which totaled €235 million for the same period.
While net foreign direct investments declined by €10 million, remittances from the diaspora and foreign workers, primarily seafarers, increased by €25 million. Of the total remittances, €209 million came from personal transfers and €196 million from employee compensations, with the remaining 6% from social payments.
Some outflows also occurred, as foreign workers in Montenegro sent €99 million back to their families abroad, resulting in a net inflow of €334 million.
Remittances play a growing role in the national economy, helping offset the trade deficit, which reached €1.79 billion in the first half of 2025. Combined with net foreign investments, these inflows cover about 32% of the trade deficit.
Remittances now significantly exceed Montenegro’s exports: for the first half of 2025, they were 53% higher than total exports of €282 million.
The largest inflows came via formal channels from Italy, Ireland, and the United States, followed by the UK, Serbia, Germany, Singapore, Switzerland, France, and Croatia. However, due to the structure of financial transfers, the reported country of origin may reflect the location of the payment institution rather than the actual sender.
Overall, remittances and foreign investments are becoming increasingly critical for Montenegro, especially as exports, tourism revenues, and foreign investments face challenges.
