Montenegro has a small but open economy that is generally based on free trade. Trade policy is characterized by a low level of custom duties and the absence of non-tariff trade barriers. The tariff system is prescribed by the Law on Customs Tariffs. Tariffs range from zero to 30 percent. Customs tariffs are not calculated on exported goods. Montenegro is a member of the Central European Free Trade Agreement (CEFTA).
Import duties are set by the customs tariff, as an integral part of the Customs Tariff Law, which is based on terms harmonized with EU legislation. The value of goods, which serves as the customs assessment base, is the contract price. Customs Law, however, discusses general procedures applicable to the trading of goods. For further information please see the Customs Law (Uprava carina).
Montenegro’s total trade in goods for 2024 was €4,683.1 million, indicating growth of 4.4% compared to 2023. The value of exports of goods was €615 million, and imports totaled €4,068.1 billion. Compared to 2023, exports decreased by 8.8%, while imports increased by 6.7%. Main export trading partners in 2024 were Serbia (€184.5 million), Bosnia and Herzegovina (€45.2 million) and Switzerland (€37.2 million). Main import trading partners in 2024 were: Serbia (€699.2 million), China (€480.7 million) and Germany (€413.2 million).
Exports from Montenegro consisted predominantly of fuels, lubricants and related material in the amount of €154.4 million, and electricity exports accounted for €114.7 million of this total. Imports to Montenegro consisted primarily of machinery and transport equipment in the amount of €991.5 million with vehicles making up the largest share at €382 million.
Foreign trade was the highest with Central European Free Trade Agreement (CEFTA) states and with the EU. Main export trading partners in 2024 were Serbia (€184.5 million), Bosnia and Herzegovina (€45.2 million) and Switzerland (€37.2 million). Main import trading partners in 2024 were: Serbia (€699.2 million), China (€480.7 million) and Germany (€413.2 million).
For tariff rates of goods, use the Customs Info Database Tariff Lookup Tool.