The trade deficit in Montenegro widened to EUR 212.5 million in October of 2018 from EUR 171.0 million in the same month a year earlier, as imports increased 21 percent year-on-year to EUR 245.9 million while exports rose at a softer 3.4 percent to EUR 33.3 million. Considering the January to October period, the trade gap advanced to EUR 1,812 million from 1,578 million in the same period of 2017. Imports went up 13.4 percent to EUR 2,137 million, boosted by higher purchases of machinery & transport equipment (+27.4 percent); food & live animals (+4.9 percent); manufactured goods classified chiefly by material (+13.3 percent) and mineral fuels, lubricants & related materials (+4.6 percent). Exports increased 6 percent to EUR 324.4 million, mainly driven by higher sales of food & live animals (+6 percent); manufactured goods classified chiefly by material (+8.1 percent) and mineral fuels, lubricants & related materials (+65.5 percent). Balance of Trade in Montenegro averaged -130703.11 EUR Thousand from 2007 until 2018, reaching an all time high of -26293 EUR Thousand in January of 2007 and a record low of -222421 EUR Thousand in July of 2008.

Balance of Trade in Montenegro is expected to be -194400.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Montenegro to stand at -163203.00 in 12 months time. In the long-term, the Montenegro Balance of Trade is projected to trend around -193700.00 EUR Thousand in 2020, according to our econometric models.

Montenegro Balance of Trade
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-27 10:10 AM Balance of Trade €-220.3M €-202.4M €-170M
2018-09-25 10:30 AM Balance of Trade €-197.5M €-220.4M €-192M
2018-10-25 10:15 AM Balance of Trade €-175M €-197.8M €-188M
2018-11-26 11:00 AM Balance of Trade €-212.5M €-175.2M €-215M
2018-12-26 10:00 AM Balance of Trade €-212.5M €-183M
2019-01-25 10:10 AM Balance of Trade
2019-03-01 09:50 AM Balance of Trade

Montenegro Trade Last Previous Highest Lowest Unit
Balance of Trade -212549.00 -175237.00 -26293.00 -222421.00 EUR Thousand [+]
Current Account 197506.66 -309278.77 292356.68 -493338.85 EUR Thousand [+]
Current Account to GDP -19.10 -13.30 -7.40 -44.23 percent [+]
Imports 245864.00 205718.00 264187.00 65304.00 EUR Thousand [+]
Exports 33315.00 30481.00 52965.30 11428.00 EUR Thousand [+]
Capital Flows -116494.04 -261832.15 542738.38 -375901.87 EUR Thousand [+]
Tourist Arrivals 78678.00 146829.00 194968.00 10322.00 [+]
Terrorism Index 0.08 0.15 1.45 0.00 [+]
Remittances 60539.25 46051.10 60539.25 35725.82 EUR Thousand [+]
Foreign Direct Investment 659232.90 687154.00 1223999.76 479191.48 EUR Thousand [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category

Montenegro Balance of Trade

Montenegro exports mainly manufactured goods, mineral fuels, lubricants, raw materials and food and beverages. Due to historical reasons, Montenegro has strong trade ties with its neighbours. Tourism, which represents 46 percent of Montenegrin exports, is already a crucial part of Montenegro’s trade flows and is expected to keep growing in the future. Montenegro’s ore deposits also play an important role in the country’s exports, aided by a complementary manufacturing sector. Montenegro imports manufactured goods, food, beverages and tobacco, mineral fuels, lubricants and machinery and transport equipment. Montenegro’s main trading partners are Serbia, Greece, Bosnia and Herzegovina, Germany, Italy and Croatia. . This page provides the latest reported value for - Montenegro Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Montenegro Balance of Trade - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-212549.00 -175237.00 -26293.00 -222421.00 2007 - 2018 EUR Thousand Monthly

Country Last Previous
Argentina 277.00 Oct/18
Australia 2316.00 Oct/18
Brazil 4062.09 Nov/18
Canada -1165.20 Oct/18
China 447.40 Nov/18
Euro Area 13141.70 Sep/18
France -4052.00 Oct/18
Germany 18300.00 Oct/18
India -16670.00 Nov/18
Indonesia -1819.90 Oct/18
Italy 1274.37 Sep/18
Japan -449.26 Oct/18
Mexico -2936.00 Oct/18
Netherlands 4850.00 Oct/18
Russia 19697.00 Oct/18
Saudi Arabia 162782.00 Jun/18
Singapore 4520.91 Oct/18
South Africa -5549.90 Oct/18
South Korea 5139.00 Nov/18
Spain -3297100.00 Sep/18
Switzerland 2637.00 Oct/18
Turkey -456.10 Oct/18
United Kingdom -3300.00 Oct/18
United States -55488.00 Oct/18