NewsHalf of exports depend on rain

Half of exports depend on rain

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For the period from January to April of this year, Montenegro imported goods worth EUR 1.11 billion, while at the same time exports amounted to EUR 271 million.

Electricity accounted for as much as 57% of total exports or EUR 155 million. Montenegro has a surplus of electricity after the cessation of aluminum and steel production, and in the first four months of this year there was considerable rainfall, which enabled such a large export.

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In the same period last year, the export of electricity was worth 100 million, but then there was also a large import due to the overhaul of the Thermal Power Plant in April, as well as the drought that had already started in that month. The overhaul of the Thermal Power Plant started in April this year, when it was out of operation, but the hydroelectric power plants were full, so the import of electricity was worth only EUR 8.3 million.

We exported the most electricity to Bosnia and Herzegovina for 40.8 million, to Slovenia for 39.8 million, to Serbia for 30.3 million, to the Czech Republic for 26.6 million…
EPCG announced that their net profit for four months due to this export is about EUR 110 million.

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Aluminum exports halved

The second largest export product was non-ferrous metals, aluminum, worth EUR 30.8 million. At the same time last year, its exports were worth EUR 75 million. In mid-May, the aluminum plant Uniprom shut down the remaining symbolic 12 cells for aluminum production, so it is now engaged in the processing of imported aluminum into alloys and part of semi-finished products. The import of raw aluminum for these four months amounted to EUR 18.6 million, so the net export of this metal was around EUR 12 million.

The export of pharmaceutical products, related to the Hemomont company, was worth EUR 13 million, while the export of ores bauxite, lead, zinc… amounted to EUR 10 million.

The export of vodka also appeared

Export of wood raw material, including pellets, 9.8 million, and meat products 7.3 million. Wine was exported for EUR 1.7 million and beer for EUR 737,000.

In mid-April, the Beluga vodka factory was opened in Nikšić, but it has already influenced the growth of exports in the category of brandy and similar alcoholic beverages by half a million, to 838,000 EUR.

 

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