Montenegro's industrial export prices decline 9.1% y/y in March 2014

By bne IntelliNews April 23, 2014

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

Montenegro to speed up re-nationalisation of power firm EPCG

Montenegro’s government has decided to speed up the acquisition of Italian A2A's stake in the power firm EPCG, paying €68.9mn for a ... more

EU slams Montenegro’s lack of progress in fight against corruption

The European Commission slammed Montenegro for its lack of progress in fight against organised crime in its progress report released on April 17, and said that the country ... more

Bulgaria’s Borissov appeals to Western Balkan leaders to preserve peace

Boyko Borissov, prime minister of the current EU Council chair Bulgaria, called on April 10 on the leaders of the Western Balkan countries to preserve peace and ... more

Dismiss