NewsMontenegro's foreign trade: A review of Q1 2024

Montenegro’s foreign trade: A review of Q1 2024

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Montenegro’s preliminary data from Monstat indicates a slight decline in the country’s total foreign trade in goods during the first three months of the year, amounting to one billion EUR, down by 3.4 percent compared to the same period last year.

Monstat’s report reveals a notable decrease in exports, totaling 150.8 million EUR, marking a decline of 31.2 percent from the previous year. Conversely, imports showed a modest increase of 3.9 percent, reaching 858.8 million EUR.

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The export-to-import ratio decreased to 17.6 percent, down from 26.5 percent in the corresponding period last year. Machinery and transport equipment dominated the export structure, accounting for 38.5 million EUR, followed by other transport vehicles and equipment at 26.6 million EUR, among other categories.

In terms of imports, machinery and transport equipment were the primary categories, totaling 220.5 million EUR, with road vehicles comprising 86.5 million EUR, among other items.

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Serbia emerged as the top foreign trade partner in exports, with 45.4 million EUR, followed by the Czech Republic with 12.7 million EUR, and Poland with 11.9 million EUR. In imports, Serbia remained the largest partner, with 137.6 million EUR, followed by China with 104.3 million EUR, and Germany with 94.3 million EUR.

The bulk of foreign trade occurred with signatories of the Central European Free Trade Agreement (CEFTA) and the European Union (EU).

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