Montenegro’s total foreign trade in goods amounted to €4.26 billion in the first 11 months of 2023, a 3.7% increase compared to the same period last year, according to preliminary data from Monstat.
Exports totaled €546.7 million, marking an 11.4% decrease, while imports rose by 6.4% to €3.72 billion. As a result, the export-to-import coverage ratio dropped to 14.7%, down from 17.7% in the same period of the previous year.
The largest share of exports came from mineral fuels and lubricants, amounting to €129.3 million. On the import side, machinery and transport equipment dominated, reaching €896.9 million, including €340.6 million for road vehicles.
Montenegro’s main export partners were Serbia (€162.1 million), Bosnia and Herzegovina (€36 million), and Switzerland (€31 million). In imports, Serbia led with €641.1 million, followed by China (€439 million) and Germany (€368.8 million).
The majority of Montenegro’s trade occurred with countries within the Central European Free Trade Agreement (CEFTA) and the European Union (EU), reflecting the importance of these trading blocs to the country’s economy.