Montenegro exported 78.5 million euros of electricity in January-September 2026, about 18% of its total merchandise exports of 434.4 million euros, according to trade figures. Power was a significant part of goods exports and a source of foreign-exchange earnings, while exposing trade to regional electricity markets.
The export value does not show how much electricity was sold or the average price received. Electricity is also an input for the wider economy, where dependable supply would support investment in hotels, logistics and industry.
Output in electricity, gas, steam and air-conditioning supply rose 170.9% year on year in the third quarter of 2026, while overall industrial production increased 31.6%, according to production figures. The increase in energy supply helped drive the wider industrial rise.
The year-on-year gains may reflect a rebound from an unusually weak base; they do not establish an equivalent increase in available capacity or guarantee a future export surplus. Electricity trade depends on wholesale prices, hydrology, thermal-plant availability, domestic demand, interconnector capacity and the timing of sales. High generation can support exports, while poor hydrological conditions or outages can quickly reverse the trade balance.
Grid capacity, maintenance, storage, market access and reliable balancing arrangements affect the value captured from generation assets. Greater industrial diversification would reduce the dependence of goods trade on fluctuations in a single resource-intensive sector.
