Montenegro's Jan-Jul trade deficit rises 1.9% y/y .

By bne IntelliNews August 29, 2011
Montenegro's trade deficit expanded by 1.9% y/y to EUR 769.9mn in the first seven months of 2011, according to the statistics office preliminary figures. It accounted for 24.1% of the projected year-end GDP down from 25% reported in the same period last year. Imports rose by 9.7% y/y to EUR 1,017mn, while exports surged by 44% y/y to EUR 247.4mn. The major item imported remains food and livestock while the major export industry is the metal industry. The main exports destination for the domestic producers was the EU while the major imports partners were Serbia, Greece and Bosnia and Herzegovina. In July alone, the trade deficit shrank by 1.9% y/y to EUR 140.4mn, down from the 5.1% annual increase reported in June. The improvement was due to exports rising by 14.7% y/, while imports increased marginally by 0.9% y/y.
External trade, EUR mn
2009 2010 2010/2009 May-11 Jun-11 Jul-11 Jan-Jul-11 change y/y, %
Trade balance -1,377.1 -1,326.8 -3.7% -126.0 -151.8 -140.4 -769.9 1.9%
Exports 277.0 330.4 19.3% 33.5 33.0 34.0 247.4 44.0%
Imports 1654.0 1657.1 0.2% 159.4 184.8 174.4 1017.296 9.7%
Source: Monstat
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