Montenegro’s total merchandise foreign trade in the past year, according to preliminary data from Monstat, amounted to 4.48 billion EUR, which is 5.9% higher compared to 2022. The value of exported goods was 674.3 million EUR, which is 3.7% or 26 million less than in 2022, while imports amounted to 3.807 billion EUR, representing an increase of 7.7% or 274 million euros compared to 2022.
- The coverage of imports by exports was 17.7% and lower compared to the previous period, when it was 19.8% – stated Monstat.
The greatest impact on the increase in imports, 274 million EUR, was from food and machinery and transport equipment. The import of food and live animals in 2023 amounted to 744.5 million EUR, an increase of 108 million, or 17%.
The import of meat and meat products increased by 32 million, or 22.8%, amounting to 172.6 million EUR. The import of vegetables and fruits amounted to nearly 113 million, an increase of almost 23 million compared to 2022.
Regarding beverage imports, it amounted to 115.4 million EUR, an increase of 25 million in one year.
The largest decrease in imports was recorded in mineral fuels and lubricants, by 223 million EUR, or 36.2%, while the decrease in electricity imports in percentages was 72.1%, amounting to 150 million EUR. Last year, nearly 210 million worth of electricity was imported, while in 2022 it was nearly 58.45 million.
A decrease in exports was also noted in non-ferrous metals, by 47.3%. Last year, the import of non-ferrous metals, including aluminum, amounted to 74.6 million.
The import of chemical products amounted to 421.6 million EUR, an increase of 75 million. In this category, the highest increase in imports was recorded for medical and pharmaceutical products, amounting to 50 million. Last year, medical and pharmaceutical products worth 191.5 million were imported.
Imported machinery and transport equipment amounted to 885 million, representing an increase of almost 25%, or 175 million. The main driver of growth in this category was the import of road vehicles, which was higher by 100 million compared to 2022. The import of road vehicles in 2023 amounted to 330 million.
