Key Market Indicators
Montenegro's import and export of tungsten is expected to grow significantly over the next five years. Imports are projected to reach $3,300 by 2026, growing at a compound annual growth rate of 1.8% from 2021. This is up from $2,960 in 2021, when Montenegro was ranked 112th globally. Mozambique overtook the country with $2,960 the same year. Germany, Japan and Austria came in second, third and fourth in the global ranking respectively. Meanwhile, Montenegro's exports of tungsten were $1,130 in 2018, up from $370 in 2017. The Balkan nation was ranked 72nd in the world that year, with Azerbaijan coming in ahead with $1,130. Germany, the United States and Japan followed in second, third and fourth place in the global ranking respectively.