Podgorica, (MINA-BUSINESS) – According to preliminary data released by Monstat, Montenegro’s total foreign trade amounted to €1.94 billion in the first five months of the year, 0.5 percent more compared with the same period last year.

Monstat said that exports totalled €214.8 million, down 9.4 percent year-on-year, while imports rose 1.9 percent to €1.73 billion.

“The export-to-import ratio stood at 12.4 percent, down from 14 percent recorded in the same period of the previous year,” the Statistical Office said in a press release.

The largest share of exports consisted of mineral fuels and lubricants, worth €74.8 million, of which electricity accounted for €63.2 million, with the remainder made up of other products. 

The largest category of imports was machinery and transport equipment, valued at €422.6 million, including road vehicles worth €167.8 million, along with other products.

Montenegro’s largest export markets were Serbia, with €57.4 million, Bosnia and Herzegovina with €29 million, and Kosovo with €17.8 million.

The country’s largest import partners were Serbia, with €291 million, China with €229.8 million, and Germany with €165.3 million.

The largest share of Montenegro’s foreign trade was with the signatories of the Central European Free Trade Agreement (CEFTA) and the European Union (EU)