Exports from Montenegro advanced 28.1 percent year-on-year to EUR 37.2 million in November of 2018. Considering the January to November period, the trade gap widened to EUR 1,972 million from EUR 1,737 million in the same period of 2017, exports rose 8.6 percent to EUR 363.9 million, mainly driven by higher sales of manufactured goods classified chiefly by material (+7.8 percent); mineral fuels, lubricants and related materials (+73.8 percent) and chemicals (+69.5 percent). On the other hand, shipments fell for crude materials, inedible, except fuels (-19.5 percent) and machinery and transport equipment (-20.4 percent). Exports in Montenegro averaged 31214.33 EUR Thousand from 2007 until 2018, reaching an all time high of 52965.30 EUR Thousand in March of 2007 and a record low of 11428 EUR Thousand in May of 2009.
Exports in Montenegro is expected to be 37800.00 EUR Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Montenegro to stand at 32366.60 in 12 months time. In the long-term, the Montenegro Exports is projected to trend around 42500.00 EUR Thousand in 2020, according to our econometric models.