Montenegro’s external trade up 2.5% yoy

Montenegro’s external trade up 2.5% yoy

According to preliminary data from Monstat (Montenegro Statistic Agency), the total external trade of Montenegro in the first seven months of 2019 amounted to EUR 1.73 billion, which is 2.5 per cent more than in the same period last year.

The total external trade in goods of Montenegro for period January –July 2019 according to preliminary results is EUR 1,728 million, indicating the growth of 2.5% in comparison with the same period for the previous year.

The value of exports of goods was EUR 228.8 million, and import was EUR 1,499.3 million. Compared with the same period of 2018, exports decreased by 0.6%, and imports increased by 3%. The coverage of import by export was 15.3% and it was lower compared to the coverage for the same period of the previous year when it was 15.8%.

“In the structure of exports, in accordance with the Standard International Trade Classification (SITC), the most present products were Manufactured goods classified chiefly by material, in the amount of EUR 58.1 million (consisted of Non-ferrous metals – EUR 37.2 million, Iron and steel – EUR 12.6 million, and other),” stated Monstat in the press release.

In the structure of imports, in accordance with the SITC, the most present products were Machinery and transport equipment with EUR 342 million (consisted of Road vehicles – EUR 111.3 million, Electric machines, appliances EUR 60.2 million, and other).

Main trading partners in exports on an individual basis were Serbia (54.4 million EUR), Hungary (EUR 27.6 million) and Bosnia and Herzegovina (EUR 18.4 million).

Main trading partners in imports on an individual basis were Serbia (EUR 289 million), Germany (EUR 137.9 million) and China (EUR 126.9 million).

The highest external trade was with CEFTA parties and the EU member states./ibna