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Pricing

2022
Flag → Flag
Exports $23.3MRnk 147 / 222
2022
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Top Product $4.83MPetroleum Gas
2022
Flag → Flag
Exports $778kRnk 42 / 123
2022
Flag → Flag
Top Product $458kDelivery Trucks
2022
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Economic Complexity (ECI) ECI 1.28Rnk 17 / 124
2022
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GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
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GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
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 GDP$6.1BCURRENT US$
Rnk 151 / 186
2012-2022
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GDP GROWTH49.1%CURRENT US$
Rnk 65 / 186
2022
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GDP PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
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GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186
2022
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GDP PC$9,894CURRENT US$
Rnk 79 / 186
2012-2022
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GDP PC GROWTH50.2%CURRENT US$
Rnk 35 / 186

About

Belgium-Montenegro In 2022, Belgium exported $23.3M to Montenegro. The main products that Belgium exported to Montenegro are Petroleum Gas ($4.83M), Pig Meat ($1.7M), and Packaged Medicaments ($1.67M). During the last 16 years the exports of Belgium to Montenegro have increased at an annualized rate of 4.58%, from $11.4M in 2006 to $23.3M in 2022.

In 2022, Belgium did not export any services to Montenegro.

Montenegro-Belgium In 2022, Montenegro exported $778k to Belgium. The main products that Montenegro exported to Belgium were Delivery Trucks ($458k), Small Iron Containers ($61.4k), and Tractors ($46.3k). During the last 16 years the exports of Montenegro to Belgium have increased at an annualized rate of 7.25%, from $254k in 2006 to $778k in 2022.

In 2022, Montenegro did not export any services to Belgium.

Comparison In 2022,  Belgium ranked 17 in the Economic Complexity Index (ECI 1.28),  and 13 in total exports ($475B). That same year, Montenegro ranked 154 in total exports ($1.32B), and does not have data regarding Economic Complexity Index.

Latest Trends

December, 2023

About

Overview In December 2023, Belgium exported €1.2M and imported €5.24k from Montenegro, resulting in a positive trade balance of €1.2M. Between December 2022 and December 2023 the exports of Belgium have decreased by €-343k (-22.2%) from €1.55M to €1.2M, while imports decreased by €-43.8k (-89.3%) from €49k to €5.24k.

Trade In December 2023, the top exports of Belgium to Montenegro were Meat & edible offal (€320k), Mineral fuels, mineral oils and products... (€130k), Cars, tractors, trucks & parts thereof. (€85.8k), Optical, photo, & film equipment; medical... (€52.8k), and Machinery, mechanical appliances, & parts (€28.6k). In December 2023 the top imports of Belgium from Montenegro were Aluminum articles (€7.06k), Plastics & articles thereof (€1.75k), Machinery, mechanical appliances, & parts (€782), Perfumery & cosmetics (€710), and Footwear (€490).

Growth In December 2023, the decrease in Belgium's year-by-year exports to Montenegro was explained primarily by an decrease in product exports in Mineral fuels, mineral oils and products... (€-90.8k or -41.2%), Miscellaneous metal products (€-16.7k or -92.2%), and Rubber & articles thereof (€-7.06k or -39.4%). In December 2023, the decrease in Belgium's year-by-year imports  from Montenegro was explained primarily by an decrease in product imports  in .

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (December 2022 - December 2023)€-343k(-22.2%)
IMPORT GROWTH (December 2022 - December 2023)€-43.8k(-89.3%)

This section shows exports and imports data at subnational level for Belgium. Click any date in the line plot or any product to explore the exports or imports behavior of Belgium over time.

To check Montenegro and Belgium trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $23.3M to Montenegro. The main products exported from Belgium to Montenegro were Petroleum Gas ($4.83M), Pig Meat ($1.7M), and Packaged Medicaments ($1.67M). During the last 16 years the exports of Belgium to Montenegro have increased at an annualized rate of 4.58%, from $11.4M in 2006 to $23.3M in 2022.

In 2022, Montenegro exported $778k to Belgium. The main products exported from Montenegro to Belgium were Delivery Trucks ($458k), Small Iron Containers ($61.4k), and Tractors ($46.3k). During the last 16 years the exports of Montenegro to Belgium have increased at an annualized rate of 7.25%, from $254k in 2006 to $778k in 2022.

Exports from Belgium (Flag) to Montenegro (Flag) (2022)

Exports from Montenegro (Flag) to Belgium (Flag) (2022)

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Montenegro
Top DestinationSouth Korea$321M

This map shows whether countries import more from Belgium or Montenegro. Each country is colored based on the difference in imports they receive from Belgium and Montenegro or the difference in the growth in imports.

In 2021, countries that imported more from Belgium than Montenegro were Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

In 2019, no countries were registered that imported more from Montenegro than from Belgium.

Difference in imports from Montenegro (Flag) and Belgium (Flag) (2022)

Comparative Advantage Belgium - Montenegro

Flow
Scale

This chart compares trade between Belgium and Montenegro by product, considering products traded by both, Belgium and Montenegro.

During 2022, Belgium had a large net trade with Montenegro in the exports of Mineral Products ($5.42M), Chemical Products ($4.57M), and Foodstuffs ($3.2M).

During 2022, Montenegro had a large net trade with Belgium in the exports of Transportation ($537k), Metals ($108k), and Machines ($83.5k).

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Belgium has comparative advantage over Montenegro. Similarly, the more yellow a dot/product is, the more Montenegro has comparative advantage over Belgium.

Product Space of Belgium (Flag) and Montenegro (Flag) (2022)

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