The trade deficit in Montenegro expanded to EUR 216.868 million in December 2022 from EUR 177.925 million in December 2021, with exports going up by 31.3% to EUR 76 million and imports - by 24.2% to EUR 293 million. Considering the January to December period, the trade gap widened to EUR 2.839 million from EUR 2.068 million in 2021. Exports rose by 60.2% to EUR 700.220 million, boosted by higher sales of mineral fuels, lubricants & related materials (+159.5%); manufactured goods classified chiefly by material (+96.4%); and animal oil & fats (+76.8%). On the other hand, shipments fell for beverages and tobacco (-26.5%) and crude materials, inedible, except fuels (-9.3%). Imports increased by 41.3% to EUR 3539.8 million, driven by higher purchases of mineral fuels, lubricants & related materials (+119.2%); animal oils & fats (+54.1%); and manufactured goods classified chiefly by material (+50.9%). source: Statistical Office of Montenegro

Balance of Trade in Montenegro averaged -144875.09 EUR Thousand from 2007 until 2022, reaching an all time high of -26293.00 EUR Thousand in January of 2007 and a record low of -339298.00 EUR Thousand in June of 2022. 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. Montenegro Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.

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Montenegro Balance of Trade

Calendar GMT Actual Previous Consensus TEForecast
2022-12-29 10:00 AM Nov €-251M €-249M €-270M
2023-01-30 10:00 AM Dec €-216M €-251M €-235M
2023-02-28 10:00 AM Jan €-216M

Related Last Previous Unit Reference
Balance of Trade -216868.00 -250810.00 EUR Thousand Dec 2022
Exports 76723.00 46839.40 EUR Thousand Dec 2022
Tourist Arrivals 31187.00 40194.00 Dec 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
-216868.00 -250810.00 -26293.00 -339298.00 2007 - 2022 EUR Thousand Monthly