Montenegro’s three biggest export products – aluminium, electricity and bauxite
According to the preliminary data on foreign trade exchange from the Statistical Office of Montenegro, in the first eight months Montenegro has exported goods worth €263,4 million.
Compare with the same period last year, the export has maintained the same level. This year Montenegro mostly exports aluminium, electricity and bauxite.
Ms Jadranka Kaluđerović, economic analyst and director of the Institute for Strategic Studies and Projections, said to Pobjeda that structure of Montenegro’s export “clearly indicates that it relies on natural and not human resources”.
“Only market can show what will dominate in future. I hope new products, result of our youth’s ideas, will take over: new applications, software, new organisation solutions, new platforms to connect with each other and more”, said Ms Kaluđerović.
Products categorised by material are dominant in the export structure – €66,5 million and they consist of coloured metals, primarily aluminium with €42,7 million share, and iron and steel with €13,75 million.
This shows that Aluminium Plant and Toščelik products are still dominant in the export structure.
Export of aluminium has declined by 19% in the first eight months of 2019.
In the same period, iron and steel export has increased by 5,2%. Value of total exported electricity amounted to €42,17 million, by 11% more than in the same period last year.
MONSTAT shows that export of mineral ore, bauxite primarily, amounted to €31,6 million.
Total Montenegro’s foreign trade exchange amounted to €1,99 billion, by 2,1% more compared with the same period last year.
Import amounted to 15,3%, less than in the same period last year.
Biggest foreign trading partners in export were Serbia (€63,2 million), Hungary (€ 31,5 million) and Bosnia and Herzegovina (€20,6 million).
Source: CDM
Montenegro’s three biggest export products – aluminum, electricity and bauxite
