Montenegro Trade Deficit Widens in September

Montenegro’s trade deficit widened to EUR 276.8 million in November 2025 from EUR 246.4 million in the same period of the previous year. Exports dropped by 26.2% year-on-year to EUR 49.4 million, while imports increased by 4.1% to EUR 326.2 million. From January to November period, the trade deficit expanded to EUR 3,496.2 compared to EUR 3,174.4 million in the corresponding period last year. On a cumulative basis, exports declined by 7.2% to EUR 507.4 million, weighed down by lower shipments in manufactured goods classified chiefly by material (-24.4%), machinery and transport equipment (-21.9%), beverages and tobacco (-12.1%), and animals oils and fats (-15.1%). Meanwhile, imports rose by 7.6% to EUR 4,003.7 million, driven by higher arrivals of animals oils and fats (18.3%), machinery and transport equipment (10.3%), and beverages and tobacco (9.7%).

Montenegro’s trade deficit widened to EUR 351.1 million in October 2025 from EUR 312.5 million in the corresponding month of the previous year. Exports fell by 6.5% year-on-year to EUR 43.7 million, while imports climbed by 9.9% to EUR 394.8 million. From January to October, the trade deficit increased to EUR 3,219.4 million in the same period last year. On a cumulative basis, exports decreased by 4.5% to EUR 458.1 million, dragged down by declines in machinery and transport equipment (-32.2%), manufactured goods classified by material (-17.1%), and beverages and tobacco (-8.1%). Meanwhile, imports grew by 7.9% to EUR 3,677.5 million, driven by higher purchases of beverages and tobacco (+10.1%), machinery and transport equipment (+10.1%), and food and live animals (+7.7%).

Montenegro’s trade deficit widened significantly to EUR 344.8 million in September 2025 from EUR 288.6 million in the corresponding month of the previous year. Exports fell by 4.9% year-on-year to EUR 47.2 million, while imports advanced 15.9% to EUR 392 million. From January to September, the trade deficit increased to EUR 2,866.8 million in the same period last year. On a cumulative basis, exports fell by 4.7% to EUR 412.9 million, dragged down by declines in machinery and transport equipment (-30.2%), manufactured goods classified by material (-20.4%), and beverages and tobacco (-16.5%). Meanwhile, imports increased by 7.6% to EUR 3,279.6 million, driven by higher purchases of beverages and tobacco (+9.9%), miscellaneous manufactured articles (+9.8%), and food and live animals (+8.8%).