April 30 (SeeNews) - Montenegro’s trade deficit increased to 708 million euro ($759 million) in the first quarter, from 607 million euro in the like period of 2023, the country's statistical office said on Tuesday.
Exports fell by 31% year-on-year to 151 million euro in the first three months of 2024, while imports went up 4% to 859 million euro, the statistical office said in a statement.
In March alone, the trade gap narrowed to 282 million euro from 290 million euro in March 2023, with exports dropping by an annual 28% to 43 million euro and imports declining 7.4% to 324 million euro.
In January-March, Montenegro's key export destinations were Serbia, which attracted Montenegrin exports worth 45 million euro, the Czech Republic with 12.7 million euro, and Poland with 11.9 million euro.
Imports into Montenegro originated mainly from neighbouring Serbia (138 million euro), followed by China (104 million euro) and Germany (94 million euro).
In 2023, Montenegro’s trade gap widened by 10% to 3.13 billion euro.
($ = 0.933 euro)