NewsImports of country 2.63 billion euros

Imports of country 2.63 billion euros

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The country has the worst ratio between imports and exports when it comes to food. Thus, for the first nine months, food imports were worth 465 million, and exports were only 29 million

The total foreign trade of Montenegro for the first nine months amounted to 3.158 billion euros, of which 520 million were exports, and the rest of 2.638 billion related to imports. This means that Montenegro imports five times more than it exports.

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However, this is a slightly better result than in the comparative period when the coverage of imports by exports amounted to 16.5 percent.

Exports increased by 72.2 percent, but at the same time, the value of imports increased by 44.2 percent, and total foreign trade by 48.2 percent.

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In the export structure, electricity was the most represented in the amount of 134.9 million euros, which is significantly more than last year when the export of electricity was worth 50 million euros, but the problem is that since July Elektroprivreda started importing electricity due to the drought and weak operation of hydroelectric power plants. Therefore, the import of electricity for the observed period is 31 million more than the export.

Almost the same value for the mentioned period was achieved by Montenegro from the export of non-ferrous metals (aluminum).

The value of other export products is almost negligible, because the export of mineral ore, the third largest product, was worth 33 million euros.

The country has the worst ratio between imports and exports when it comes to food. Thus, for the first nine months, food imports were worth 465 million, and exports were only 29 million.

294 million was spent on oil imports, and half a billion was spent on machines and transport devices, which include road vehicles, electric and industrial machines…

105 million was spent on the import of clothing and footwear, and this industry almost does not exist in Montenegro because the value of exports was 1.8 million.

Interestingly, the largest export partner is Switzerland with 104 million, which is one million more than what Montenegro exported to Serbia. That neighboring country is therefore the largest import partner with 421 million, which means that we import from Serbia four times more than we export.

When it comes to the members of the European Union, according to them, the value of total exports is 34.5 percent, or 104 million, even eight times less than the value of imports. As much as 221.6 million euros of goods were imported from Greece alone.

Among the biggest importers of Montenegro is China with a value of 238.59 million, local media reports.

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