Trade Trend

In 2023, Montenegro's total export value is 653.52Million USD, total import value is 4.09Billion USD, Deficit is -3.43Billion USD, and foreign trade dependency is 0.640. In 2023，Montenegro's top export products are Electrical energy(223.37Million USD), Aluminium; unwrought(72.31Million USD), Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of mixed or unmixed products for therapeutic or prophylactic use, put up in measured doses (incl. those in the form of transdermal admin. systems) or packed for retail sale(43.63Million USD), top export destinations are Serbia(183.77Million USD), Bosnia & Herzegovina(76.71Million USD), Slovenia(69.75Million USD). In 2023, Montenegro's top import products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(341.82Million USD), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(246.24Million USD), Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of mixed or unmixed products for therapeutic or prophylactic use, put up in measured doses (incl. those in the form of transdermal admin. systems) or packed for retail sale(141.19Million USD), top import origins are Serbia(713.34Million USD), China(458.54Million USD), Germany(394.59Million USD).

Comparing to 2022, Montenegro's total export value decreased -85.03Million USD(-11.51%) in 2023, this could result from its export decreases of products such as Aluminium; unwrought(-109.00Million USD or -60.12%), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(-4.18Million USD or -14.88%), Machinery for sorting, screening, separating, washing, crushing, grinding, mixing or kneading earth, stone, ores in solid form, shaping, moulding machinery for solid mineral fuels(-3.99Million USD or -79.08%) and export decreases to countries/economics such as Switzerland(-90.12Million USD or -77.32%), Bosnia & Herzegovina(-19.83Million USD or -20.54%), Italy(-16.02Million USD or -48.15%). Comparing to 2022, Montenegro's total import value increased 390.87Million USD(10.57%) in 2023, this could result from its import increases of products such as Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(101.34Million USD or 69.94%), Meat of swine; fresh, chilled or frozen(29.17Million USD or 46.39%), Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of mixed or unmixed products for therapeutic or prophylactic use, put up in measured doses (incl. those in the form of transdermal admin. systems) or packed for retail sale(26.80Million USD or 23.42%), and its import increases from countries/economies such as China(112.62Million USD or 32.56%), Germany(109.89Million USD or 38.60%), Serbia(69.09Million USD or 10.72%).

Cumulated to first 6 months of 2024, Montenegro's total export value is 250.79Million USD, total import value is 1.10Billion USD, and tradedeficit is -852.13Million USD. Cumulated to first 6 months of 2024, Montenegro's top export products are Electrical energy(54.71Million USD), Aluminium; unwrought(22.90Million USD), Aircraft n.e.c. in heading no. 8801, except unmanned aircraft of heading 8806, (e.g. helicopters, aeroplanes); spacecraft (including satellites) and suborbital and spacecraft launch vehicles(21.73Million USD), and top export destinations are Serbia(45.17Million USD), Italy(31.76Million USD), Sweden(17.77Million USD). Cumulated to first 6 months of 2024, Montenegro's top import products are Electrical energy(54.71Million USD), Aluminium; unwrought(22.90Million USD), Aircraft n.e.c. in heading no. 8801, except unmanned aircraft of heading 8806, (e.g. helicopters, aeroplanes); spacecraft (including satellites) and suborbital and spacecraft launch vehicles(21.73Million USD), and top import origins areChina(137.54Million USD), Serbia(134.09Million USD), Germany(117.62Million USD).