Key Market Indicators
Montenegrin truck exports experienced a significant decline in 2023, dropping by 41.9% to approximately $108,000 from around $187,000 in 2022. This marks a continuing trend for the country, which has seen its supply decrease by an average of 25.2% annually since 2011. In the global ranking of truck exports for 2023, Montenegro was placed at number 89, with Brunei slightly ahead, also recording exports worth $108,000. Leading the list were the United States, Germany, and France, securing the second, third, and fourth positions, respectively. On the import front, Montenegro's truck imports are projected to reach nearly $50 million by 2028, up from about $43 million in 2023. This represents a compound annual growth rate (CAGR) of 2.3%. Montenegrin demand for trucks has increased by an average of 1.3% per year since 2011.