Podgorica, (MINA-BUSINESS) – According to preliminary statistics released by Monstat, Montenegro’s total foreign trade amounted to €4.48 billion last year, up 5.9 percent year on year.

The export amounted to a total of €674.3 million in this period, down 3.7 percent year on year, while the import increased by 7.7 percent to €3.8 billion.

 “The value of export accounted for 17.7 percent of the import value last year, down from 19.8 percent in the same period of 2022,” stated a press release issued by the Statistical Office.

According to the statistics, most of the export that took place in this period included electricity, worth €206.8 million.

The largest share in the import was that of motor vehicles, worth €329.9 million.

The majority of goods Montenegro exported went to Serbia, Bosnia and Herzegovina, and Slovenia, while most of the import to Montenegro came from Serbia, China and Germany.

Most of the foreign trade exchange has been done with parties to the Central European Free Trade Agreement (CEFTA) and with the European Union (EU).