Ukraine and Montenegro have a Free Trade Agreement, which entered into force on January 1, 2013.
The volume of trade in goods in 2022 amounted to 17.79 million USD (+55.07% compared to 2021), of which exports amounted to 8.23 million USD (+21.85 million USD compared to 2021), imports amounted to 9.55 million USD (+102.71% compared to 2021). The negative balance amounted to 1.32 million USD.
Main export items (2022): meat and edible offal (43.5%); edible fruits and nuts, peels of citrus fruits or melons (9.6%); fats and oils of animal, vegetable or microbial origin and their breakdown products (7%); electrical machines, equipment and their parts, sound recording or reproduction equipment, television equipment (6.2%). Main articles of import (2022): other goods (82.6%); mineral fuels, petroleum and products of its distillation, bituminous substances, mineral waxes (7.6%).
The volume of trade in goods in January-August 2023 amounted to 10.13 million USD (+29.16% compared to the same period in 2022), of which exports amounted to 6.90 million USD (+56.46% compared to the same period in 2022), imports amounted to 3.23 million USD (-5.95% compared to the same period in 2022). The positive balance was 3.67 million USD.
(In 2021 the total turnover between the two countries amounted to 59.88 million USD (415% or increased 4 times compared to 2020), of which exports from Ukraine were 17.6 million USD (255% or increased 2.5 times), imports into Ukraine were 42.3 million USD (556% or increased 5.6 times).
The volume of trade in goods amounted to12.6 million USD (242% or increased 2.4 times). Exports of goods form Ukraine totalled 6.7 million USD (+ 71%). The volume of imports of goods into Ukraine reached 5.9 million USD (453% or increased by 4.5%).
The volume of trade in services in 2021 amounted 47.23 million USD (an increase of 5 times compared to 2020), of which exports from Ukraine were 10.86 million USD (3.6 times increase), imports into Ukraine reached 36.37 million USD (increase almost 5 times).
The top commodities exported by Ukraine to Montenegro (2021) were meat and edible offal (22.7%), edible fruits and nuts (15.7%), furniture (12.9%), ferrous metals (11.2%), sugar and sugar confectionery (6.8%), finished grain products (6%).
Main Montenegrin commodities exported to Ukraine (2021) were gunpowder and explosives (73.4%); goods purchased in ports (20.3%), alcoholic and non-alcoholic beverages and vinegar (2.7%), aircraft (1.4%), salt, sulfur, soil and stones (1.2%).)