Montenegro Trade Gap Widens in February

Montenegro’s trade deficit widened to €289.1 million in February 2026 from €274.3 million in the same month last year. Exports fell 11.4% year-on-year to €47.5 million, while imports rose 2.6% to €336.5 million. On a cumulative basis, the trade deficit narrowed to €465.3 million from €475.1 million a year earlier. Exports dropped 20.9% to €76.6 million, weighed down by lower sales of crude materials (-29.7%), mineral fuels (-4.4%), chemicals (-21.5%), and machinery and transport equipment (-61.1%). Meanwhile, imports declined 5.2% to €542.0 million, with weaker purchases of crude materials (-6.5%), mineral fuels (-18.3%), animal oils and fats (-2.9%), chemicals (-5.2%), and food and live animals (-0.6%). Among trading partners, Europe accounted for the largest share of both exports and imports, representing 95.2% and 76.9%, respectively.

Montenegro’s trade deficit shrank to €175.1 million in January 2026, down from €200.8 million a year earlier. The narrowing was driven by a 16.3% drop in imports to €204.3 million, led by lower purchases of machinery and transport equipment (-20.4%), manufactured goods (-25%), chemicals (-17.4%), and food and live animals (-8.7%). Exports, however, fell 32.7% to €29.2 million, weighed down by steep declines in mineral fuels, lubricants, and related materials (-44.2%), crude materials (-42.8%), machinery and transport equipment (-47.3%), and food and live animals (-11.0%).

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%).