Preliminary data from Monstat reveals that Montenegro’s total foreign trade of goods reached €1.82 billion in the first five months of the year, marking a 2.6% increase compared to the same period last year.
Export and import dynamics
The value of Montenegro’s exports amounted to €251.5 million, reflecting a significant decrease of 22.4%. On the other hand, imports experienced an 8.2% increase, totaling around €1.57 billion. This disparity led to an export-import coverage ratio of 16.0%, a decline from the 22.3% recorded in the same timeframe last year.
Leading export goods
The primary exports according to the Standard International Trade Classification were mineral fuels and lubricants, which totaled €56.5 million. This category includes €47.7 million worth of electrical energy and other related products.
Main import categories
In terms of imports, machinery and transport equipment dominated, with a total value of €404.6 million. Of this, €156.2 million was spent on road vehicles, making it the largest single category.
Key trade partners
Serbia remains Montenegro’s largest foreign trade partner. Montenegro exported goods worth €76.5 million to Serbia, while imports from Serbia were significantly higher at €260.4 million.
Montenegro also exported goods valued at €16.2 million to Switzerland and €15.5 million to Bosnia and Herzegovina. Regarding imports, besides Serbia, China and Germany were major partners, with import values of €192.4 million and €163.4 million respectively.
Trade with CEFTA and the EU
Foreign trade was notably substantial with CEFTA signatories and the European Union, underscoring the importance of these regions in Montenegro’s trade landscape.
