2022
Flag  
GDP
$586BCURRENT US$
Rnk 23 / 186
2012-2022
Flag
GDP GROWTH
6.06%CURRENT US$
Rnk 151 / 186
2022
Flag
 GDP
$6.1BCURRENT US$
Rnk 151 / 186
2012-2022
Flag
GDP GROWTH
49.1%CURRENT US$
Rnk 65 / 186
2022
Flag
GDP PC 
$55,873CURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP PC GROWTH
-3.73%CURRENT US$
Rnk 149 / 186
2022
Flag
GDP PC
$9,894CURRENT US$
Rnk 79 / 186
2012-2022
Flag
GDP PC GROWTH
50.2%CURRENT US$
Rnk 35 / 186

About

Sweden-Montenegro Trade: In 2022, Sweden exported $22.5M to Montenegro. The main products that Sweden exported to Montenegro were Packaged Medicaments ($2.94M), Flat Flat-Rolled Steel ($2.64M), and Special purpose motor vehicles ($2.36M). Over the past 5 years the exports of Sweden to Montenegro have decreased at an annualized rate of 2.15%, from $25M in 2017 to $22.5M in 2022.

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

Montenegro-Sweden Trade: In 2022, Montenegro exported $1.83M to Sweden. The main products that Montenegro exported to Sweden were Transmissions ($1.38M), Preserved Meat ($209k), and Sausages ($53.6k). Over the past 5 years the exports of Montenegro to Sweden have decreased at an annualized rate of 14.1%,  from $3.92M in 2017 to $1.83M in 2022.

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

Comparison In 2022,  Sweden ranked 9 in the Economic Complexity Index (ECI 1.49),  and 33 in total exports ($194B). That same year, Montenegro ranked 154 in total exports ($1.32B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Sweden exported $22.5M to Montenegro. The main products exported from Sweden to Montenegro were Packaged Medicaments ($2.94M), Flat Flat-Rolled Steel ($2.64M), and Special purpose motor vehicles ($2.36M). During the last 5 years the exports of Sweden to Montenegro have decreased at an annualized rate of 2.15%, from $25M in 2017 to $22.5M in 2022.

In 2017, Montenegro exported $1.83M to Sweden. The main products exported from Montenegro to Sweden were Transmissions ($1.38M), Preserved Meat ($209k), and Sausages ($53.6k). During the last 5 years the exports of Montenegro to Sweden have decreased at an annualized rate of 14.1%, from $3.92M in 2022 to $1.83M in 2017.

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

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

Market Competitiveness

Color
Sweden
Top Destination
Germany$19.2B
Montenegro
Top Destination
South Korea$321M

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

In 2022, countries that imported more from Sweden than Montenegro included Germany ($19.2B), Norway ($18.7B), and United States ($17.8B).

In 2022, countries that imported more from Montenegro than Sweden included Bosnia and Herzegovina ($95.5M) and Albania ($21.9M).

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

Comparative Advantage Sweden - Montenegro

Flow
Scale

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

During 2022, Sweden had a large net trade with Montenegro in the exports of Transportation ($6.78M), Machines ($5.42M), and Chemical Products ($4.31M).

During 2017, Montenegro had a large net trade with Sweden in the exports of Machines ($1.42M), Animal Products ($216k), and Foodstuffs ($69.8k).

Economic Complexity

Competitive Landscape

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

Product Space of Sweden (Flag) and Montenegro (Flag) (2022)

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