According to Monstat’s report on foreign trade, in the first nine months of this year, Montenegro exported goods worth €272.7m, which is 17.8% more than in the same period last year. Montenegro exports most aluminium, bauxite ore and electricity. This year’s export growth has been mostly contributed by the increase in mineral ore exports, primarily bauxites, by €23.1m.
According to the director of the Institute for Strategic Studies and Forecasts and economist analyst, Jadranka Kaludjerovic, Montenegrin exports are dominated by products of the Niksic-based steelworks and Podgorica-based Aluminium Plant (KAP).
“Export of non-ferrous metals, primarily aluminium, in the first nine months of this year increased by 8.44% compared to the same period last year. During this period, exports of iron and steel rose by 9.68%,” she said.
Export of mineral ore, primarily bauxite, amounted to €49.5m in the first nine months, an increase by as much as 87.53% compared to the same period last year.
In the first three quarters, the value of exported electricity amounted to €19.6m, which is 18.7% less compared to the same period last year.
The largest foreign trade partners in exports were Serbia with (€45.7m), Bosnia-Herzegovina (€34m) and Hong Kong (€23.7m). The highest volume of foreign trade was achieved with the signatories of the Central European Free Trade Agreement (CEFTA) and the European Union.
