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2023
Flag → Flag
Exports $23.9MRnk 153 / 220
2023
Flag → Flag
Top Product $2.32MPig Meat
2023
Flag → Flag
Exports $1.67MRnk 33 / 130
2023
Flag → Flag
Top Product $590kZinc Ore
2023
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Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
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GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
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GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
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 GDP$7.53BCURRENT US$
Rnk 154 / 195
2013-2023
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GDP GROWTH68.6%CURRENT US$
Rnk 42 / 195
2023
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GDP PC $54,701CURRENT US$
Rnk 20 / 195
2013-2023
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GDP PC GROWTH16.5%CURRENT US$
Rnk 113 / 195
2023
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GDP PC$12,221CURRENT US$
Rnk 83 / 196
2013-2023
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GDP PC GROWTH70%CURRENT US$
Rnk 26 / 195

About

Belgium-Montenegro Trade: In 2023, Belgium exported $23.9M to Montenegro. The main products that Belgium exported to Montenegro were Pig Meat ($2.32M), Petroleum Gas ($2.23M), and Other Frozen Vegetables ($2.08M). Over the past 5 years the exports of Belgium to Montenegro have increased at an annualized rate of 11.2%, from $14M in 2018 to $23.9M in 2023.

In 2023, Belgium did not export any services to Montenegro.

Montenegro-Belgium Trade: In 2023, Montenegro exported $1.67M to Belgium. The main products that Montenegro exported to Belgium were Zinc Ore ($590k), Delivery Trucks ($225k), and Aluminium Structures ($153k). Over the past 5 years the exports of Montenegro to Belgium have decreased at an annualized rate of 17.6%,  from $4.39M in 2018 to $1.67M in 2023.

In 2023, Montenegro did not export any services to Belgium.

Comparison In 2023,  Belgium ranked 20 in the Economic Complexity Index (ECI 1.23),  and 13 in total exports ($437B). That same year, Montenegro ranked 151 in total exports ($1.53B), and does not have data regarding Economic Complexity Index.

Latest Trends

November, 2024

About

Overview In November 2024, Belgium exported €1.56M and imported €334k from Montenegro, resulting in a positive trade balance of €1.23M. Between November 2023 and November 2024 the exports of Belgium have increased by €326k (26.4%) from €1.23M to €1.56M, while imports increased by €98.1k (41.6%) from €236k to €334k.

Trade In November 2024, the top exports of Belgium to Montenegro were Meat & edible offal (€320k), Mineral fuels, mineral oils and products... (€130k), Cars, tractors, trucks & parts thereof. (€85.8k), Optical, photo, & film equipment; medical... (€52.8k), and Machinery, mechanical appliances, & parts (€28.6k). In November 2024 the top imports of Belgium from Montenegro were Aluminum articles (€7.06k), Plastics & articles thereof (€1.75k), Machinery, mechanical appliances, & parts (€782), Perfumery & cosmetics (€710), and Footwear (€490).

Growth In November 2024, the increase in Belgium's year-by-year exports to Montenegro was explained primarily by an increase in product exports in Optical, photo, & film equipment; medical... (€26k or 97%), Chemical products n.e.s. (€25.6k or 4.44k%), and Cars, tractors, trucks & parts thereof. (€24.4k or 39.8%). In November 2024, the increase in Belgium's year-by-year imports  from Montenegro was explained primarily by an increase in product imports  in Machinery, mechanical appliances, & parts (€709 or 971%), Miscellaneous edible preparations (€87 or 2.18k%), and Coffee, tea, mate & spices (€63 or 525%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)€326k(26.4%)
IMPORT GROWTH (November 2023 - November 2024)€98.1k(41.6%)

This section shows exports and imports data at subnational level for Belgium. Click any date in the line plot or any product to explore the exports or imports behavior of Belgium over time.

To check Montenegro and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Montenegro and Belgium Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Belgium exported $23.9M to Montenegro. The main products exported from Belgium to Montenegro were Pig Meat ($2.32M), Petroleum Gas ($2.23M), and Other Frozen Vegetables ($2.08M). During the last 5 years the exports of Belgium to Montenegro have increased at an annualized rate of 11.2%, from $14M in 2018 to $23.9M in 2023.

In 2018, Montenegro exported $1.67M to Belgium. The main products exported from Montenegro to Belgium were Zinc Ore ($590k), Delivery Trucks ($225k), and Aluminium Structures ($153k). During the last 5 years the exports of Montenegro to Belgium have decreased at an annualized rate of 17.6%, from $4.39M in 2023 to $1.67M in 2018.

Exports from Belgium (Flag) to Montenegro (Flag) (2023)

Exports from Montenegro (Flag) to Belgium (Flag) (2023)

Market Competitiveness

Color
Belgium
Top DestinationFrance$85.6B
Montenegro
Top DestinationItaly$576M

This map shows whether countries import more from Belgium or Montenegro. Each country is colored based on the difference in imports they receive from Belgium and Montenegro or the difference in the growth in imports.

In 2023, countries that imported more from Belgium than Montenegro included France ($85.6B), Netherlands ($67.3B), and Germany ($60.8B).

In 2023, no countries were registered that imported more from Montenegro than from Belgium.

Difference in imports from Montenegro (Flag) and Belgium (Flag) (2023)

Comparative Advantage Belgium - Montenegro

Flow
Scale

This chart compares trade between Belgium and Montenegro by product, considering products traded by both, Belgium and Montenegro.

During 2023, Belgium had a large net trade with Montenegro in the exports of Foodstuffs ($4.99M), Chemical Products ($4.75M), and Animal Products ($2.69M).

During 2018, Montenegro had a large net trade with Belgium in the exports of Mineral Products ($590k), Transportation ($372k), and Metals ($292k).

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Belgium and Montenegro. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Montenegro. Similarly, a dot/product with the flag of Montenegro indicates it has a comparative advantage over Belgium.

Product Space of Belgium (Flag) and Montenegro (Flag) (2023)

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