The trade deficit in Montenegro widened to EUR 171.8 million in November 2019 from EUR 162.5 million in the corresponding month of the previous year, as exports slumped by 11.9 percent to EUR 33.4 million while imports went up 2.4 percent to EUR 205.2 million.

Balance of Trade in Montenegro averaged -135444.45 EUR Thousand from 2007 until 2019, reaching an all time high of -26293 EUR Thousand in January of 2007 and a record low of -223260.90 EUR Thousand in July of 2019. This page provides the latest reported value for - Montenegro Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Balance of Trade in Montenegro is expected to be -194000.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Montenegro to stand at -193700.00 in 12 months time. In the long-term, the Montenegro Balance of Trade is projected to trend around -193700.00 EUR Thousand in 2020, according to our econometric models.

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Montenegro Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-171810.95 -189689.46 -26293.00 -223260.90 2007 - 2019 EUR Thousand Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-09-27 09:00 AM Aug €-192.3M €-223.2M €-215M
2019-10-25 09:20 AM Sep €-185.5M €-192.4M €-180M
2019-11-29 10:00 AM Oct €-189.7M €-185.5M €-228M
2019-12-27 10:00 AM Nov €-171.8M €-189.7M
2020-01-29 10:00 AM Dec €-171.8M € -193.7M

News Stream
Montenegro Trade Deficit Widens in January
The trade gap in Montenegro rose to EUR 102.1 million in January of 2019 from EUR 94.6 million in the same month of the previous year. Exports increased 2.7 percent to EUR 26.6 million, boosted by sales of mineral fuels, lubricants and related materials (+39.9 percent), namely electric current (+48.2 percent); machinery and transport equipment (+56.6 percent); and chemicals (+27.5 percent) mainly medicinal and pharmaceutical products (+70.2 percent). On the other hand, shipments fell for manufactured goods classified as material (-17.2 percent) and crude materials, inedible, except fuels (-35.9 percent). Meanwhile, imports advanced at a faster 6.8 percent to EUR 128.7 million, boosted by machinery and transport equipment (+6.6 percent); food & live animals (+3.3 percent) and miscellaneous manufactured articles (+38.7 percent).

Montenegro Balance of Trade
Montenegro exports mainly manufactured goods, mineral fuels, lubricants, raw materials and food and beverages. Due to historical reasons, Montenegro has strong trade ties with its neighbours. Tourism, which represents 46 percent of Montenegrin exports, is already a crucial part of Montenegro’s trade flows and is expected to keep growing in the future. Montenegro’s ore deposits also play an important role in the country’s exports, aided by a complementary manufacturing sector. Montenegro imports manufactured goods, food, beverages and tobacco, mineral fuels, lubricants and machinery and transport equipment. Montenegro’s main trading partners are Serbia, Greece, Bosnia and Herzegovina, Germany, Italy and Croatia. .

Montenegro Trade Last Previous Highest Lowest Unit
Balance of Trade -171810.95 -189689.46 -26293.00 -223260.90 EUR Thousand [+]
Current Account 239522.00 -328473.00 292018.00 -493338.85 EUR Thousand [+]
Current Account to GDP -18.50 -18.90 -7.40 -44.23 percent [+]
Imports 205241.00 229190.00 264187.00 65304.00 EUR Thousand [+]
Exports 33431.00 39501.00 52965.30 11428.00 EUR Thousand [+]
Capital Flows -185734.89 318586.89 542738.38 -185734.89 EUR Thousand [+]
Tourist Arrivals 55654.00 116962.00 220915.00 10322.00 [+]
Terrorism Index 1.00 0.04 1.45 0.00 [+]
Remittances 64302.72 60198.25 64302.72 35725.82 EUR Thousand [+]
Foreign Direct Investment 858113.20 659232.90 1223999.76 479191.48 EUR Thousand [+]