Montenegro
2019 Product Exports | Imports: $407M | $2.97B, 168 of 225 | 150 of 225
2019 Per Capita Product Exports | Imports: $654 | $4.77k, 143 of 219 | 86 of 219
2017 Service Exports | Imports : $1.56B | $582M, 94 of 139 | 114 of 139
Overview: In 2019 Montenegro was the number 149 economy in the world in terms of GDP (current US$), the number 168 in total exports, the number 150 in total imports, the number 78 economy in terms of GDP per capita (current US$) and the number null most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of Montenegro are Raw Aluminium ($81.4M), Aluminium Ore ($43M), Packaged Medicaments ($37.5M), Cars ($23.1M), and Zinc Ore ($15.5M), exporting mostly to Serbia ($68.6M), Hungary ($59.9M), China ($43.3M), Russia ($28.8M), and Bosnia and Herzegovina ($25.1M).
Imports: The top imports of Montenegro are Refined Petroleum ($224M), Cars ($143M), Packaged Medicaments ($87M), Recreational Boats ($81.1M), and Rolled Tobacco ($53.9M), importing mostly from Serbia ($880M), Bosnia and Herzegovina ($233M), Croatia ($231M), Italy ($189M), and Greece ($169M).
Location: Montenegro borders Albania, Bosnia and Herzegovina, Croatia, and Serbia by land and Italy by sea.
Historical Data
#permalink to sectionYearly Exports
#permalink to sectionTop Export (2019): Raw Aluminium, $81.4M
Top Destination (2019): Serbia, $68.6M
In 2019, Montenegro exported a total of $407M, making it the number 168 exporter in the world. During the last five reported years the exports of Montenegro have changed by -$251M from $658M in 2014 to $407M in 2019.
The most recent exports are led by Raw Aluminium ($81.4M), Aluminium Ore ($43M), Packaged Medicaments ($37.5M), Cars ($23.1M), and Zinc Ore ($15.5M). The most common destination for the exports of Montenegro are Serbia ($68.6M), Hungary ($59.9M), China ($43.3M), Russia ($28.8M), and Bosnia and Herzegovina ($25.1M).
Yearly Imports
#permalink to sectionTop Import (2019): Refined Petroleum, $224M
Top Origin (2019): Serbia, $880M
In 2019 Montenegro imported $2.97B, making it the number 150 trade destination in the world. During the last five reported years the imports of Montenegro changed by $93.1M from $2.88B in 2014 to $2.97B in 2019.
The most recent imports of Montenegro are led by Refined Petroleum ($224M), Cars ($143M), Packaged Medicaments ($87M), Recreational Boats ($81.1M), and Rolled Tobacco ($53.9M). The most common import partners for Montenegro are Serbia ($880M), Bosnia and Herzegovina ($233M), Croatia ($231M), Italy ($189M), and Greece ($169M).
Monthly Trade
#permalink to sectionMarket Growth
#permalink to sectionService Trade
#permalink to sectionService Trade
#permalink to sectionMontenegro 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).
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionMontenegro has a high level of specialization in Aluminium Ore (337), Preserved Meat (85.7), Chlorates and Perchlorates (76.9), Raw Aluminium (70.5), and Lead Ore (68). 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
#permalink to sectionThe highest complexity exports of Montenegro according to the product complexity index (PCI) are Photograph film, rolls, unexposed, not paper (1.96), Equipment for physical and chemical analysis (1.72), Shafts, cranks, gears, clutches, flywheel, pulleys etc (1.6), Bar, rod nes, stainless steel, angles, shapes/sections (1.26), and Orthopaedic appliances (1.24). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Montenegro according to the relatedness index, are Flavored Water (0.14), Crude Petroleum (0.14), Cement (0.14), Rough Wood (0.13), and Wheat Flours (0.13). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Montenegro is not specialized in.
Product Space
#permalink to sectionThe 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
#permalink to sectionThe 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.
