Includes information on average tariff rates and types that U.S. firms should be aware of when exporting to the market.
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 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 https://upravacarina.gov.me/uprava.
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 2020 data from the Montenegrin Statistical Office (Monstat), foreign trade exchange was EUR 2,471.3 billion. The value of overall exported and imported goods in 2020 was EUR 366.1 million and EUR 1.2 billion, respectively. Montenegro’s most important export partners were Serbia (EUR 101 million), Slovenia (EUR 35.8 million) and Kosovo (EUR 23.6 million), with imports mainly coming from Serbia (EUR 414.4 million), China (EUR 218 million) and Germany (EUR 204.1 million).
Foreign trade exchange was the highest with Central European Free Trade Agreement (CEFTA) states and the EU.