Montenegro's trade gap expands 15.5% y/y in Jan-Feb 2012.

By bne IntelliNews March 27, 2012
Montenegro's exports plunged 25% y/y to EUR 23.8mn in Feb 2012, data from the statistics office showed. The decrease slowed down slightly compared to January's 26.9% but is still contrasting the dominating positive trend last year. Unlike in Jan, when imports saw a strong growth of 16.5% y/y, in Feb, they turned to decline, falling by 9.6% on the year. Thus, Montenegro ended the second month of the year with trade gap amounting to EUR 82.7mn, down by 3.9% compared to a year earlier but up by 14.7% compared to January. In Jan-Feb, the cumulative trade balance rose by 15.5% y/y to EUR 154.9mn. Exports dropped by 26.1% y/y while imports rose marginally by 1.4% y/y in the first two months. The main products imported in Jan-Feb were petroleum, petroleum products and related (EUR 28.9mn, up 32% y/y), electricity (EUR 26.5mn - more than double compared to Ja-Feb 2011), meat and meat products (EUR 11.7mn, up 11% y/y). Non-ferrous metals (EUR 25.9mn, down 17% y/y, electricity (EUR 5.9mn, down 57% y/y) and iron and steel (EUR 3.91mn, up 98% y/y) constituted the largest share of exports. The main exports destinations for the domestic producers were Croatia, Serbia and Bosnia and Herzegovina while the major imports partners were Serbia, Greece and Bosnia and Herzegovina.
External trade, EUR mn
2009 2010 2011 Jan-12 Feb-12 change y/y, %
Trade balance -1,377.1 -1,326.8 -1,368.8 -72.1 -82.7 -3.9%
Exports 277.0 330.4 454.4 27.4 23.8 -25.0%
Imports 1654.0 1657.1 1823.187 99.518 106.49 -9.6%
Source: Monstat
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