Montenegro's trade gap expands 1.7% in July, exports continue to decline.

By bne IntelliNews August 28, 2012
Montenegro's trade gap expanded by 1.7% y/y in July as exports decline accelerated to 8.9% y/y, statistics office data showed. Imports also stayed below their year-ago levels, indicating contracted domestic demand. They inched down 0.4% y/y in July. The cumulative trade deficit rose by 7.3% y/y to EUR 827.9mn. Exports dropped by an annual 13.8% to EUR 213.3mn in Jan-Jul, while imports rose by 2.2% y/y to EUR 1,041.3mn. The main products imported in January-July were petroleum, petroleum products and related. Non-ferrous metals and electric current constituted the largest share of exports. The main exports destinations for the domestic producers were Croatia, Serbia and Hungary while the major imports partners were Serbia, Bosnia and Herzegovina, Greece and Germany.
External trade, EUR mn
2009 2010 2011 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 change y/y, %
Trade balance -1,377.1 -1327.0 -1369.0 -82.6 -136.8 -119.7 -133.2 -138.9 -144.3 1.7%
Exports 277.0 330.4 454.4 23.9 33.4 31.2 34.5 31.9 31.0 -8.9%
Imports 1654.0 1657.3 1823.3 106.6 170.2 150.9 167.7 170.8 175.2 -0.4%
Source: Monstat

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