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Montenegro's trade gap widens 23% y/y in Jan-April

May 30, 2024, 12:48:21 PMArticle by Iskra Pavlova
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May 30 (SeeNews) - Montenegro’s trade deficit increased to 1.042 billion euro ($1.131 billion) in the first four months of 2024, from 845 million euro in the like period of 2023, the country's statistical office said on Thursday.

Montenegro's trade gap widens 23% y/y in Jan-April

Exports fell by 26% year-on-year to 205 million euro in January-April 2024, while imports went up 11% to 1.247 billion euro, the statistical office said in a statement.

In April alone, the trade gap widened to 333 million euro from 240 million euro in April 2023, with exports dropping by an annual 7.5% to 54 million euro and imports rising 30% to 387 million euro.

In January-April, Montenegro's key export destinations were Serbia, which attracted Montenegrin exports worth 60 million euro, Switzerland with 15.3 million euro, Bosnia and Herzegovina with 13.2 million euro, and the Czech Republic, Poland and Slovenia with each of the three attracting some 12.7 million euro worth of Montenegrin exports.

Imports into Montenegro originated mainly from neighbouring Serbia (205 million euro), followed by China (157 million euro) Germany (132 million euro), Croatia (73 million euro), Greece (69 million euro) and Italy (67.5 million euro).

In 2023, Montenegro’s trade gap widened by 10% to 3.13 billion euro.

($ = 0.921 euro)

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