This overall growth, however, masks a troubling trend: a significant decline in exports and a notable rise in imports.
Monstat reported that exports fell by 24.5%, amounting to €287.9 million. In contrast, imports surged by 5.9% to €1.93 billion. Consequently, the export-to-import ratio deteriorated to 14.9%, down from 20.9% in the same period last year, indicating a widening trade deficit.
Serbia emerged as Montenegro’s largest trading partner, with exports to Serbia totaling €86.3 million and imports at €324.8 million
Mineral fuels and lubricants dominated Montenegro’s export structure, valued at €61.9 million, with electrical energy contributing €50 million. On the import side, machinery and transport equipment topped the list at €493.1 million, including €192 million worth of road vehicles.
Other significant export partners included Bosnia and Herzegovina (€18.6 million) and Switzerland (€16.9 million). Key import partners were China (€229.1 million) and Germany (€199.5 million).
The bulk of Montenegro’s trade occurred with CEFTA (Central European Free Trade Agreement) countries and the European Union, underscoring the importance of regional and EU markets for Montenegro’s trade dynamics.
As Montenegro navigates these trade challenges, the focus will likely remain on balancing its trade portfolio and addressing the underlying factors contributing to the export decline and import surge.
