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2022
Flag → Flag
Exports $23.3MRnk 147 / 222
2022
Flag → Flag
Top Product $4.83MPetroleum Gas
2022
Flag → Flag
Exports $778kRnk 42 / 123
2022
Flag → Flag
Top Product $458kDelivery Trucks
2022
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Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
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GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
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GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
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 GDP$6.1BCURRENT US$
Rnk 151 / 186
2012-2022
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GDP GROWTH49.1%CURRENT US$
Rnk 65 / 186
2022
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GDP PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
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GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186
2022
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GDP PC$9,894CURRENT US$
Rnk 79 / 186
2012-2022
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GDP PC GROWTH50.2%CURRENT US$
Rnk 35 / 186

About

Belgium-Montenegro Trade: In 2022, Belgium exported $23.3M to Montenegro. The main products that Belgium exported to Montenegro were Petroleum Gas ($4.83M), Pig Meat ($1.7M), and Packaged Medicaments ($1.67M). Over the past 5 years the exports of Belgium to Montenegro have increased at an annualized rate of 11.6%, from $13.5M in 2017 to $23.3M in 2022.

In 2022, Belgium did not export any services to Montenegro.

Montenegro-Belgium Trade: In 2022, Montenegro exported $778k to Belgium. The main products that Montenegro exported to Belgium were Delivery Trucks ($458k), Small Iron Containers ($61.4k), and Tractors ($46.3k). Over the past 5 years the exports of Montenegro to Belgium have decreased at an annualized rate of 41.5%,  from $11.4M in 2017 to $778k in 2022.

In 2022, Montenegro did not export any services to Belgium.

Comparison In 2022,  Belgium ranked 19 in the Economic Complexity Index (ECI 1.25),  and 13 in total exports ($475B). That same year, Montenegro ranked 154 in total exports ($1.32B), and does not have data regarding Economic Complexity Index.

Latest Trends

July, 2024

About

Overview In July 2024, Belgium exported €1.37M and imported €33.8k from Montenegro, resulting in a positive trade balance of €1.34M. Between July 2023 and July 2024 the exports of Belgium have increased by €403k (41.5%) from €971k to €1.37M, while imports increased by €11k (48.3%) from €22.8k to €33.8k.

Trade In July 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 July 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 July 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 July 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 (July 2023 - July 2024)€403k(41.5%)
IMPORT GROWTH (July 2023 - July 2024)€11k(48.3%)

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

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $23.3M to Montenegro. The main products exported from Belgium to Montenegro were Petroleum Gas ($4.83M), Pig Meat ($1.7M), and Packaged Medicaments ($1.67M). During the last 5 years the exports of Belgium to Montenegro have increased at an annualized rate of 11.6%, from $13.5M in 2017 to $23.3M in 2022.

In 2017, Montenegro exported $778k to Belgium. The main products exported from Montenegro to Belgium were Delivery Trucks ($458k), Small Iron Containers ($61.4k), and Tractors ($46.3k). During the last 5 years the exports of Montenegro to Belgium have decreased at an annualized rate of 41.5%, from $11.4M in 2022 to $778k in 2017.

Exports from Belgium (Flag) to Montenegro (Flag) (2022)

Exports from Montenegro (Flag) to Belgium (Flag) (2022)

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Montenegro
Top DestinationSouth Korea$321M

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 2022, countries that imported more from Belgium than Montenegro included Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

In 2022, no countries were registered that imported more from Montenegro than from Belgium.

Difference in imports from Montenegro (Flag) and Belgium (Flag) (2022)

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 2022, Belgium had a large net trade with Montenegro in the exports of Mineral Products ($5.42M), Chemical Products ($4.57M), and Foodstuffs ($3.2M).

During 2017, Montenegro had a large net trade with Belgium in the exports of Transportation ($537k), Metals ($108k), and Machines ($83.5k).

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) (2022)

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