According to the preliminary data provided by Montengerin Statistical Office (MONSTAT) about the foreign trade exchange for the first six months, Montenegro spends most on the import of road vehicles, oil and oil derivatives, electric machines and meat. Economic analyst, Siniša Lekić, thinks that Montenegro should work on bringing foreign production investors if it wants to reduce import and change its structure. Total foreign trade commodity exchange in the first six months in Montenegro amounted 1,4 billion EUR which is 13,8 % more compared to the same period last year.
The import was 12,9% higher than in the same period last year and it amounted 1,2 billion EUR.
The structure of import comprises machines and transportation devices, mineral fuels, lubricants, oil and oil derivatives and the data show that considerable funds have been provided for the import of medical and pharmaceutical products as well.
Significant item in the import of Montenegro in the first six months was also steel and iron. Around 41,17 million EUR was spent for the import of iron and steel and that would be 42% more than in the same period last year.
Considerable decline in the import of tobacco products was recorded. Due to the decline in the sale of cigarettes at the legal market and the decline in the collection of excises on tobacco, the Parliament adopted the amendments to the Law on excises. The purpose was to support the businessmen who were facing unfair competition and provide better budget filling.
According to Lekić, structure of imports in Montenegro has been qualified as the import of “everything and anything”.
“Simply, there’s no product that we do not import,especially when it comes to industrial products. That means that our production capacities don’t exist”, says Lekić. He thinks that change of the structure of import in Montenegro is a very difficult issue that needs time to be tackled.
“I believe that the priority of the Ministry of Economy should be attracting foreign production investors. That’s also important from the aspect of employment, since our unemployment rate is high”, says Lekić.
As far as food is concerned, we spent most on the import of meat and meat products (46,2 million EUR), fruit and vegetables (34 million EUR) and dairy products and eggs (24,5 million EUR).
As far as the import of electricity is concerned, there has been a drastic fall. The reason is much better hydrological situation in comparison to the same period last year when much less electricity was generated in Montenegrin plants due to low precipitation and droughts.
