Montenegro's industrial export price deflation deepened to 9.1% y/y in March 2014 from 6.4% y/y the month before mainly reflecting a stronger contraction of manufacturing costs, statistics office data showed on April 23. In monthly terms, industrial export prices recorded a zero growth in March after inching down 0.2% m/m in February. Compared to the 2013 average, March’s export costs fell 3.0%.
Manufacturing export prices fell 9.5% y/y in March, deteriorating from a 6.8% y/y drop the month before. The decline in March was fuelled by falling basic metals, pharmaceuticals and beverages costs. Export costs in the mining and quarrying sector increased 1.9% y/y in March, slowing from a 2.9% y/y hike in February.
Prices of industrial products imported to Montenegro decreased 2.8% y/y in March after going down by 2.7% y/y in February, the statistics office said in a separate statement. The reading was dragged down by falling prices of basic metals, food, coke and refined petroleum products and chemical products.
Export costs declined an average 2.7% last year, following a 5.8% contraction in 2012. Imports costs shrank an average 1.4% last year, following a 1.8% increase in 2012 reflecting falling manufacturing costs.
Related Articles
EBRD boosts Montenegro’s flagship wind farm with €26mn loan
The European Bank for Reconstruction and Development (EBRD) said on August 19 that it is deepening its support for Montenegro’s green transition with an additional €26mn loan to expand the Gvozd ... more
EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses
The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more
EIB surpasses investment milestone in the Western Balkans by investing €1.2bn in 2023
EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
23 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago