Montenegro’s trade gap narrows 6.5% to EUR 929mn in Jan-Aug 2013

By bne IntelliNews September 25, 2013

Montenegro's foreign trade deficit shrank by 6.5% y/y to EUR 928.5mn in January-August 2013 due to rising exports and falling imports, statistics office data showed on September 25. The gap accounted for 26.4% of the full-year GDP forecast, down from 29.7% a year earlier, according to IntelliNews calculations.

The export-import coverage ratio strengthened to 21.6% for the first eight months of 2013 from 19.8% a year earlier, remaining among the lowest in the region.

Montenegro's imports declined 4.4% y/y to EUR 1.2bn in January-August dragged down by falling domestic demand for electricity (down 55% y/y to EUR 37mn), petroleum products (down 16% to EUR 126mn) and metalliferous ores and metal scrap (down 33% to EUR 23mn).

January-August exports went up 4.3% y/y to EUR 256mn supported by higher sales of electricity (up 207% y/y to EUR 76mn).

Weak metal sector activity continued denting the overall exports growth, reflecting reduced production of troubled aluminum smelter KAP and steel mill Zeljezara Niksic. Sales of non-ferrous metals contracted 43% y/y to EUR 55.8mn in January-August, while iron and steel exports fell 29% to EUR 9.6mn over the period. Their share in total exports dropped to 26% in January-August from 45% a year earlier and over 65% at end-2008.

External trade, EUR mn 2009 2010 2011 2012 Jan-Aug'12 Jan-Aug'13 Change,y/y,%
Trade balance -1,377.2 -1,326.9 -1,369.0 -1,453.9 -992.9 -928.5 -6.5
Exports 277.0 330.4 454.4 366.9 245.5 256.0 4.3
Imports 1,654.2 1,657.3 1,823.3 1,820.8 1,238.4 1,184.5 -4.4
Source: Monstat            

Related Articles

EBRD says 2016 net profit was around €1bn

The European Bank for Reconstruction and Development (EBRD) said it made a net profit of around €1bn in 2016, up by a quarter from the €802mn it made in ... more

Bar-Boljare motorway construction to push Montenegro's debt above 80% of GDP

The International Monetary Fund (IMF) has projected that Montenegro’s general government debt will reach 82% of projected GDP by 2019 due to the construction of the Bar-Boljare motorway. This will ... more

Montenegro plans to privatise tourist resorts in 2017

Montenegro plans to offer state-owned stakes in several resorts and other companies from other industries this year, according to the ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss