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Monday, April 22, 2024
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Montenegro’s merchandise trade shows modest growth

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Preliminary data released by Monstat indicates that Montenegro’s total merchandise foreign trade for the initial two months amounted to 637.3 million EUR, reflecting a modest 0.4% increase compared to the corresponding period last year.

During this timeframe, exports of goods were valued at 107.9 million EUR, while imports reached 529.4 million EUR. This marked a 31.9% decrease in exports and an 11.2% increase in imports compared to the same period last year.

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The export-to-import ratio, a key indicator, stood at 20.4%, showing a decline from 33.3% recorded in the previous year.

In terms of export composition according to the Standard International Trade Classification (SITC), machinery and transport equipment dominated, accounting for 34.2 million EUR. This category included other transport equipment and machinery amounting to 26 million EUR, among others.

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Similarly, machinery and transport equipment also constituted the bulk of imports, totaling 137.9 million EUR. Within this category, road vehicles accounted for 54.4 million EUR, along with other items.

Montenegro’s top export destinations included Serbia, with exports amounting to 30.2 million EUR, followed by the Czech Republic (12.5 million EUR) and Poland (10.9 million EUR).

Conversely, Serbia emerged as the primary source of imports, with goods valued at 81.9 million EUR, followed by China (64.5 million EUR) and Germany (58.1 million EUR).

The most significant merchandise foreign trade was observed with CEFTA signatories and the European Union.

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