Overview: In February 2021 Montenegro exported $19.1M and imported $31.3M, resulting in a negative trade balance of $12.2M. Between February 2020 and February 2021 the exports of Montenegro have increased by $2.49M (15%) from $16.6M to $19.1M, while imports increased by $15.9M (103%) from $15.5M to $31.3M.
Trade: In February 2021, the top exports of Montenegro were Iron Ore ($1.56B), Iron Ore ($1.05B), Crude Petroleum ($902M), Soybeans ($625M), and Crude Petroleum ($464M). In February 2021 the top imports of Montenegro were Special Purpose Ships ($1.43B), Telephones ($192M), Vehicle Parts ($190M), Electricity ($189M), and Blood, antisera, vaccines, toxins and cultures ($180M).
Destinations: In February 2021, Montenegro exported mostly to Argentina ($4M), Paraguay ($3.48M), United States ($3.36M), China ($2.69M), and Vietnam ($716k), and imported mostly from United States ($12.3M), Argentina ($7.54M), Germany ($2.64M), India ($2.2M), and Italy ($1.28M).
Growth: In February 2021, the increase in Montenegro's year-by-year exports was explained primarily by an increase in exports to China ($555M or 10.7k%), China ($473M or 73.2%), and China ($380M or 101%), and product exports increase in Iron Ore ($656M or 72.6%), Iron Ore ($593M or 129%), and Soybeans ($288M or 5.57k%). In February 2021, the increase in Montenegro's year-by-year imports was explained primarily by an increase in imports from Brazil ($1.11B or 235%), China ($276M or 38.4%), and China ($244M or 45.1%), and product imports increase in Electricity ($188M or 23.6k%), Petroleum Gas ($128M or 5.81M%), and Blood, antisera, vaccines, toxins and cultures ($81.9M or 83.2%).