NewsMontenegro's merchandise trade: A review of 2023

Montenegro’s merchandise trade: A review of 2023

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Based on Monstat’s final figures, Montenegro’s total merchandise trade in the past year reached 4.48 billion euros, marking a 5.9 percent increase from 2022.

Monstat reported a slight decrease in exported goods, totaling 674.3 million euros, down by 3.7 percent compared to the previous year. Conversely, imports surged by 7.8 percent to 3.81 billion euros.

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The export-import ratio dipped to 17.7 percent, indicating a decrease from the previous year’s 19.8 percent.

In terms of exports, mineral fuels and lubricants dominated, amounting to 244.9 million euros, followed by electric energy at 206.9 million euros.

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Meanwhile, imports were primarily comprised of machinery and transport equipment, totaling 885.2 million euros, with road vehicles accounting for 330 million euros.

Serbia, Bosnia and Herzegovina, and Slovenia emerged as the top export partners, while Serbia, China, and Germany led in imports.

Montenegro’s trade was predominantly with CEFTA and EU member countries.

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