Montenegro has a small but open economy 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 fully 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 Uprava prihoda.
Raw materials, especially aluminum, are the dominant Montenegrin export while imports, which far outstrip exports, have no single dominant item. Major categories of imports include: cosmetics, personal hygiene products, food stuffs, and clothing.
According to 2021 data from the Montenegrin Statistical Office (Monstat), foreign trade exchange was EUR 2.95 billion. The value of overall exported and imported goods in 2021 was EUR 437.1 million and EUR 2.5 billion, respectively. Montenegro’s most important export partners were Serbia (EUR 107 million), Switzerland (EUR 50.7 million) and Bosnia and Herzegovina (EUR 33.4 million), with imports mainly coming from Serbia (EUR 500.9 million), China (EUR 254.2 million) and Germany (EUR 231.2 million).
Foreign trade was the highest with Central European Free Trade Agreement (CEFTA) states and with the EU. Montenegro has not joined the Open Balkan Initiative, previously known as “Mini-Schengen,” an initiative championed by Serbia and Albania designed to facilitate trade, services, and movement of people throughout the Western Balkans.
For tariff rates of goods, use the Customs Info Database Tariff Lookup Tool.