Montenegro trade deficit reaches 2.3 billion euros in first half of year

Boris Mugoša, a Member of Parliament for the European Alliance, has reported a worsening foreign trade deficit in Montenegro. During the first half of the year, imports exceeded exports by 2.3 billion euros.

Compared to the same period last year, exports decreased by 4.4 percent while imports rose by 3.4 percent. The ratio of import coverage by exports fell to just 12 percent. Mugoša noted that this deficit is increasing despite a 60 percent reduction in electricity imports compared to the previous year.

Food imports reached 460 million euros during this six-month period. Mugoša expressed concern regarding imported inflation and structural economic vulnerabilities, stating that price increases are outstripping wage growth, thereby reducing the real purchasing power of citizens. He also noted that the economic benefits of the tourism season are being offset by the rising deficit and the outflow of consumer spending toward foreign products.