FX.co ★ Montenegro Trade Deficit Widens in November

Montenegro's trade deficit expanded significantly in November 2025, reaching EUR 276.8 million, compared to EUR 246.4 million in the same month the previous year. During this period, exports saw a sharp decline of 26.2% year-on-year, totaling EUR 49.4 million. In contrast, imports experienced an increase of 4.1%, amounting to EUR 326.2 million. Looking at the broader timeframe from January to November, the trade deficit swelled to EUR 3,496.2 million, up from EUR 3,174.4 million during the equivalent period last year. Over these months, exports diminished by 7.2% to EUR 507.4 million. This reduction was largely attributed to decreased shipments of manufactured goods primarily categorized by material (-24.4%), machinery and transport equipment (-21.9%), beverages and tobacco (-12.1%), and animal oils and fats (-15.1%). Conversely, imports rose by 7.6%, reaching EUR 4,003.7 million. This growth was supported by increased arrivals of animal oils and fats (18.3%), as well as machinery and transport equipment (10.3%), and beverages and tobacco (9.7%).