Montenegro’s foreign trade in goods totaled €4.26 billion in the first 11 months of 2023, marking a 3.7% increase compared to the same period last year, according to Monstat’s preliminary data.
Exports amounted to €546.7 million, down 11.4% year-on-year, while imports rose by 6.4% to €3.72 billion. The export-to-import coverage ratio declined to 14.7%, compared to 17.7% in the same period last year.
Mineral fuels and lubricants dominated exports with €129.3 million, while machinery and transport equipment led imports at €896.9 million, including €340.6 million for road vehicles.
Key export partners included Serbia (€162.1 million), Bosnia and Herzegovina (€36 million), and Switzerland (€31 million). On the import side, Serbia ranked first with €641.1 million, followed by China (€439 million) and Germany (€368.8 million).
Most trade activity occurred with CEFTA members and the European Union, highlighting the importance of these blocs in Montenegro’s trade network.
