Montenegro’s trade deficit widened to EUR 276.8 million in November 2025 from EUR 246.4 million in the same period of the previous year. Exports dropped by 26.2% year-on-year to EUR 49.4 million, while imports increased by 4.1% to EUR 326.2 million. From January to November period, the trade deficit expanded to EUR 3,496.2 compared to EUR 3,174.4 million in the corresponding period last year. On a cumulative basis, exports declined by 7.2% to EUR 507.4 million, weighed down by lower shipments in manufactured goods classified chiefly by material (-24.4%), machinery and transport equipment (-21.9%), beverages and tobacco (-12.1%), and animals oils and fats (-15.1%). Meanwhile, imports rose by 7.6% to EUR 4,003.7 million, driven by higher arrivals of animals oils and fats (18.3%), machinery and transport equipment (10.3%), and beverages and tobacco (9.7%).