Montenegro-Türkiye Bilateral Trade Analysis 2023
Complete trade statistics: $224.12M total volume •Montenegro deficit: $182.13M
Montenegro → Türkiye
$21.00M
Exports (2023)
Türkiye → Montenegro
$203.12M
Imports (2023)
Trade Balance
$182.13M
Deficit for Montenegro
Total Trade
$224.12M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Montenegro and Türkiye. Green line shows exports from Montenegro, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Montenegro-Türkiye commercial relationship and competitive positioning in global markets.
Montenegro → Türkiye Exports
Export Market Intelligence
🎯 Strategic Export Focus
Montenegro's export portfolio to Türkiye demonstrates strategic specialization, with ferrous waste and scrap: n.e.c. in heading no. 7204 representing a key competitive advantage in this bilateral market.
Türkiye → Montenegro Imports
Import Dependency Profile
📦 Import Strategy Analysis
Montenegro's import pattern from Türkiye reveals significant dependencyin jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Montenegro demonstrates competitive strength in exportingferrous waste and scrap: n.e.c. in heading no. 7204 to Türkiye, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $224.12M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Montenegro-Türkiye Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $224.12 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Montenegro maintains a deficit of $182.13 million
- Export Focus: Montenegro's primary exports include ferrous waste and scrap: n.e.c. in heading no. 7204, jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof, perchlorates: bromates and perbromates: iodates and periodates
- Import Dependencies: Key imports from Türkiye include jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof, particle board of wood, whether or not agglomerated with resins or other organic binding substances, furniture: wooden, other than for office, kitchen or bedroom use
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $224.12M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Montenegro leveraging its comparative advantages in ferrous waste and scrap: n.e.c. in heading no. 7204.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Montenegro's specialization in ferrous waste and scrap: n.e.c. in heading no. 7204complements Türkiye's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $224.12M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $224.12M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $224.12 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in ferrous waste and scrap: n.e.c. in heading no. 7204 and jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Montenegro's trade deficit of $182.13 million impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Montenegro and Türkiye represents a total trade volume of $224.12 million in 2023. This partnership demonstrates an unfavorable trade balance for Montenegro, with imports exceeding exportsby $182.13 million.
Export Strengths
Montenegro's exports to Türkiye total $21.00 million, with competitive advantages in ferrous waste and scrap: n.e.c. in heading no. 7204, representing $9.93M or47.3% of bilateral exports.
Import Dependencies
Imports from Türkiye amount to $203.12 million, highlighting economic interdependence in jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof, with Jewellery: of precious metal (excluding silver) whether or not plated or clad with precious metal, and parts thereof comprising5.6% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Montenegro's strategic sourcing from Türkiye. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Montenegro and Türkiye in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023