Montenegro: Trade balance, percent of GDP
* indicates monthly or quarterly data series
Montenegro |
Trade balance as percent of GDP |
---|---|
Latest value | -18.62 |
Year | 2023 |
Measure | percent |
Data availability | 2000 - 2023 |
Average | -24.72 |
Min - Max | -53.30 - -14.30 |
Source | The World Bank |
The latest value from 2023 is -18.62 percent, an increase from -22.83 percent in 2022. In comparison, the world average is -3.03 percent, based on data from 137 countries. Historically, the average for Montenegro from 2000 to 2023 is -24.72 percent. The minimum value, -53.3 percent, was reached in 2008 while the maximum of -14.3 percent was recorded in 2000.
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* indicates monthly or quarterly data series
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The trade balance for Montenegro and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
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Related indicators | Latest | Reference | Measure |
---|---|---|---|
Trade openness | 119.99 | 2023 | percent |
Exports, percent of GDP | 50.69 | 2023 | percent |
Exports, billion dollars | 3.75 | 2023 | billion U.S. dollars |
Growth of exports | 8.56 | 2023 | percent |
Imports, percent of GDP | 69.30 | 2023 | percent |
Imports, billion dollars | 5.13 | 2023 | billion U.S. dollars |
Foreign Direct Investment, percent of GDP | 7.10 | 2023 | percent |
Foreign Direct Investment, billion dollars | 0.87 | 2022 | billion U.S. dollars |
Portfolio investment inflows, equities | 9.62 | 2023 | million dollars (current) |
Current account, percent of GDP | -15.00 | 2019 | percent |
Current account, in dollars | -0.84 | 2023 | billion U.S. dollars |
Trade balance, percent of GDP | -18.62 | 2023 | percent |
Trade balance, in dollars | -1.40 | 2023 | billion U.S. dollars |
Reserves | 1.57 | 2023 | billion U.S. dollars |
Remittances, percent of GDP | 10.87 | 2023 | percent |
Remittances | 804.94 | 2023 | million U.S. dollars |
Net errors and omissions | 795.80 | 2023 | million USD |
External debt | 138.74 | 2022 | percent |
Short-term external debt | 2.25 | 2022 | percent |
Short-term debt to reserves | 9.74 | 2022 | percent |
Foreign exchange reserves | 1.64 | 9/2024 | billion |