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Montenegro’s trade gap widens 14.3% y/y in Jan-Feb

Author Radomir Ralev
Montenegro’s trade gap widens 14.3% y/y in Jan-Feb Author: AleGranholm Licence: Creative Commons, Attribution.

PODGORICA (Montenegro), March 27 (SeeNews) – Montenegro’s trade deficit increased by 14.3% on the year to 203.6 million euro ($221.1 million) in the first two months of 2017, the country's statistical office said.

The country's exports jumped by an annual 30.1% to 50.3 million euro in the January-February period, while imports rose 17.1% to 253.9 million euro, the office said in a statement on its website on Monday.

In February alone, Montenegro's trade gap widened by 15.4% on the year, reaching 126.7 million euro. On a monthly comparison basis, the deficit widened 64.6%. February exports increased by 15.4% on the year and by 7.6% month-on-month, to 26.1 million euro. Imports totalled 152.7 million euro, up 15.4% year-on-year and 51% month-on-month.

Montenegro's key export destinations in the first two months of the year were Serbia (8.8 million euro), Bosnia and Herzegovina (6.7 million euro) and Hungary (5.9 million euro), while imports into the country came mainly from Serbia (56 million euro), China (24.4 million euro) and Germany (21.3 million euro).

In 2016, Montenegro's foreign trade deficit widened by 13.7% to 1.733 billion euro.

($=0.920821 euro)