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).
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.
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.
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).
The 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.
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.
This network shows the products most related to the production structure of Montenegro. These are products that tend to be co-exported with the products that Montenegro exports. Higher relatedness values indicate greater knowledge, which predicts a greater probability of exporting that product in the future.
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.