Flag Montenegro

Product Exports (2018): $475M, Rank 164 of 222

Exports Per Capita (2018): $763, Rank 199 of 219

Product Imports (2018): $3.51B, Rank 145 of 221

Imports Per Capita (2018): $5.65k, Rank 140 of 219

Service Exports (2017): $1.56B, Rank 94 of 139

Service Imports (2017): $582M, Rank 114 of 139

GDP (2018): $5.5B, CURRENT US$
Rank 152 of 196

GDP growth (2008 - 2018): 21.1%, CURRENT US$
Rank 124 of 196

GDP PC (2018): $8,844, CURRENT US$
Rank 83 of 196

GDP PC GROWTH (2008 - 2018): 20%, CURRENT US$
Rank 103 of 196

Overview: This page contains the latest international trade data for Montenegro, including service trade data. In 2018 Montenegro was the number 152 economy in the world in terms of GDP (current US$), the number 164 in total exports, and the number 145 in total imports. In 2018, Montenegro exported $475M and imported $3.51B, resulting in a negative trade balance of -$3.04B. In 2018, Montenegro's exports per capita were $763 and its imports per capita were $5.65k.

Trade: The top exports of Montenegro are Raw Aluminium ($87.8M), Packaged Medicaments ($52.4M), Cars ($25.2M), Aluminium Ore ($18.2M), and Zinc Ore ($16.6M). The top imports of Montenegro are Refined Petroleum ($244M), Cars ($161M), Packaged Medicaments ($80.1M), Planes, Helicopters, and/or Spacecraft ($66.3M), and Broadcasting Equipment ($62.8M).

Destinations: Montenegro exports mostly to Serbia ($93.7M), Hungary ($55M), Bosnia and Herzegovina ($37.7M), Slovenia ($28.9M), and Russia ($28M), and imports mostly from Serbia ($884M), China ($272M), Bosnia and Herzegovina ($242M), Croatia ($222M), and Italy ($210M).

Location: Montenegro borders Albania, Bosnia and Herzegovina, Croatia, and Serbia by land and Italy by sea.

Yearly Exports

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Top Export (2018): Raw Aluminium, $87.8M

Top Destination (2018): Serbia, $93.7M

In 2018 Montenegro exported a total of $475M, making it the number 164 exporter in the world. During the last five reported years the exports of Montenegro have changed by -$142M from $617M in 2013 to $475M in 2018.

The most recent exports are led by Raw Aluminium ($87.8M), Packaged Medicaments ($52.4M), Cars ($25.2M), Aluminium Ore ($18.2M), and Zinc Ore ($16.6M). The most common destination for the exports of Montenegro are Serbia ($93.7M), Hungary ($55M), Bosnia and Herzegovina ($37.7M), Slovenia ($28.9M), and Russia ($28M).

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Yearly Imports

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Top Import (2018): Refined Petroleum, $244M

Top Origin (2018): Serbia, $884M

In 2018 Montenegro imported $3.51B, making it the number 145 trade destination in the world. During the last five reported years the imports of Montenegro changed by $945M from $2.57B in 2013 to $3.51B in 2018.

The most recent imports of Montenegro are led by Refined Petroleum ($244M), Cars ($161M), Packaged Medicaments ($80.1M), Planes, Helicopters, and/or Spacecraft ($66.3M), and Broadcasting Equipment ($62.8M). The most common import partners for Montenegro are Serbia ($884M), China ($272M), Bosnia and Herzegovina ($242M), Croatia ($222M), and Italy ($210M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Montenegro Exports Services (2017): $1.56B

Montenegro Imports Services (2017): $582M

In 2017, Montenegro exported $1.56B worth of services. The top services exported by Montenegro in 2017 were Travel ($1.04B), Transportation ($295M), Miscellaneous business, professional, and technical services ($80.5M), Computer and information services ($61.2M), and Construction services ($35.2M).

The top services imported by Montenegro in 2017 were Transportation ($243M), Miscellaneous business, professional, and technical services ($119M), Travel ($66.9M), Computer and information services ($64.6M), and Construction services ($32.9M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Montenegro. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Economic Complexity

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Most Specialized Products by RCA Index

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Montenegro has a high level of specialization in Aluminium Ore (140), Military Weapons (137), Fireworks (112), Chlorates and Perchlorates (80.6), and Preserved Meat (64.1). Specialization is measured using RCA, an index that takes the ratio between Montenegro observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Montenegro according to the product complexity index (PCI) are Shafts, cranks, gears, clutches, flywheel, pulleys etc (1.55), Bar, rod nes, stainless steel, angles, shapes/sections (1.44), Parts and accessories for musical instruments (1.27), Artificial, graphite and preparations (1.18), and Railway maintenance-of-way service vehicles (1.14). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Montenegro according to the relatedness index, are Rough Wood (0.16), Crude Petroleum (0.15), Non-fillet Fresh Fish (0.15), Cement (0.15), and Wheat Flours (0.15). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Montenegro is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.