Montenegro: Foreign trade drops 24.7%

Montenegro: Foreign trade drops 24.7%

According to preliminary data from the Monstat Agency for Statistics, total foreign trade of Montenegro in January amounted to €128.1 million, marking a 24.7% drop compared to the same month last year.

Monstat announced that the exported goods value amounted to €25.3 million, 19% less YoY. Imports were down 25.9% to 102.8m euros.

“The coverage of imports by exports was 24.6% and is higher compared to the same period last year when it was 22.5%,” Monstat reports.

In the structure of exports, the most represented are mineral fuels and lubricants in the amount of €8.5 million, which consists of electricity in the amount of €7.7 million, coal, coke and briquettes in the amount of €599 thousand and others.

“In the structure of imports, the most represented are machines and transport devices in the amount of €22.7 million, comprising electrical machines, appliances and devices worth €6.4 million, road vehicles worth €5.7 million and others,” the statement notes.

The largest foreign trade partners in exports were Serbia with €6.1 million, Slovenia with €2.8 million and Bosnia and Herzegovina with €2 million.

The largest foreign trade partners in imports were Serbia with €20.5 million, China with €13.3 million and Germany with €10.2 million.

Foreign trade in goods was highest with the signatories of the Central European Free Trade Agreement (CEFTA) and with the European Union (EU).

Monstat also reported that the value of the minimum consumer basket in January was €.9 EUR, up 0.2% from December.

“Out of the total value of the minimum consumer basket, expenditures for food and non-alcoholic beverages amounted to €274.8, which is 0.4% more than in December,” the statement notes.

Statisticians said expenditures on non-food products and services amounted to 368.1 euros, up 0.1% from December.

The minimum consumer basket refers to household consumption that includes food and non-food products and services, which enables the maintenance of life and working ability of household members. /ibna