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Montenegro’s H1 trade gap widens 38.5% y/y

Author Radomir Ralev
Montenegro’s H1 trade gap widens 38.5% y/y Source: Pixabay

PODGORICA (Montenegro), August 2 (SeeNews) - Montenegro’s trade deficit expanded by 38.5% on the year to 1.226 billion euro ($1.26 billion) in the first half of 2022, the country's statistical office said.

Exports almost doubled to 382.7 million euro in January-June 2022 from 202.5 million euro in the like period of last year, while imports went up 48.0% to 1.609 billion euro, the statistical office said in a statement.

Montenegro's key export destinations in the first six months of 2022 were Serbia with 65.9 million euro, Bosnia and Herzegovina with 54.0 million euro and Slovenia with 23.9 million euro.

Imports into the country originated mainly from Serbia, which accounted for 268.1 million euro worth of imports, Greece with 132.9 million euro, and Germany with 119.1 million euro.

In 2021, Montenegro's trade deficit expanded by 18.9% to 2.067 billion euro.

($ = 0.97744 euro)