The trade gap in Montenegro rose to EUR 102.1 million in January of 2019 from EUR 94.6 million in the same month of the previous year. Exports increased 2.7 percent to EUR 26.6 million, boosted by sales of mineral fuels, lubricants and related materials (+39.9 percent), namely electric current (+48.2 percent); machinery and transport equipment (+56.6 percent); and chemicals (+27.5 percent) mainly medicinal and pharmaceutical products (+70.2 percent). On the other hand, shipments fell for manufactured goods classified as material (-17.2 percent) and crude materials, inedible, except fuels (-35.9 percent). Meanwhile, imports advanced at a faster 6.8 percent to EUR 128.7 million, boosted by machinery and transport equipment (+6.6 percent); food & live animals (+3.3 percent) and miscellaneous manufactured articles (+38.7 percent). Balance of Trade in Montenegro averaged -131629.62 EUR Thousand from 2007 until 2019, 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 -169000.00 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 -211000.00 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
2018-11-26 11:00 AM Balance of Trade €-212.5M €-175.2M €-215M
2018-12-26 09:30 AM Balance of Trade €-162.8M €-212.8M €-183M
2019-01-25 10:00 AM Balance of Trade €-181.7M €-162.9M €-211M
2019-02-28 10:00 AM Balance of Trade €-102.1M €-181.7M €-105M
2019-03-29 10:00 AM Balance of Trade €-102.1M €-145M
2019-04-30 09:00 AM Balance of Trade
2019-05-31 09:00 AM Balance of Trade

Montenegro Trade Last Previous Highest Lowest Unit
Balance of Trade -102122.00 -181664.00 -26293.00 -222421.00 EUR Thousand [+]
Current Account -374597.00 200245.00 292356.68 -493338.85 EUR Thousand [+]
Current Account to GDP -18.90 -19.10 -7.40 -44.23 percent [+]
Imports 128732.10 216523.70 264187.00 65304.00 EUR Thousand [+]
Exports 26610.00 34859.50 52965.30 11428.00 EUR Thousand [+]
Capital Flows -440509.00 -166529.00 542738.38 -440509.00 EUR Thousand [+]
Tourist Arrivals 26986.00 31849.00 194968.00 10322.00 [+]
Terrorism Index 0.04 0.08 1.45 0.00 [+]
Remittances 61480.91 60049.75 61480.91 35725.82 EUR Thousand [+]
Foreign Direct Investment 843101.10 659232.90 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 March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-102122.00 -181664.00 -26293.00 -222421.00 2007 - 2019 EUR Thousand Monthly

Country Last Previous
Argentina 372.00 Jan/19
Australia 4549.00 Jan/19
Brazil 3670.00 Feb/19
Canada -4593.40 Dec/18
China 41.18 Feb/19
Euro Area 1547.90 Jan/19
France -4195.00 Jan/19
Germany 14500.00 Jan/19
India -9600.00 Feb/19
Indonesia 329.50 Feb/19
Italy 321.80 Jan/19
Japan 339.00 Feb/19
Mexico -4809.60 Jan/19
Netherlands 2868.00 Jan/19
Russia 13368.00 Jan/19
Saudi Arabia 184673.00 Sep/18
Singapore 5198.50 Feb/19
South Africa -13082.76 Jan/19
South Korea 3098.00 Feb/19
Spain -3247399.00 Dec/18
Switzerland 2037.56 Feb/19
Turkey -2503.45 Jan/19
United Kingdom -3825.00 Jan/19
United States -59769.00 Dec/18