According to resources, the total export to Montenegro from India reached an estimated revenue of more than $31 Million by the year 2022.
Trade agreements have also been signed between both the countries in order to support exports.
| US $ | 2020 | 2021 |
| India Export to Montenegro | 23M | 31M |
| India Import from Montenegro | 219k | 381k |
| Total Trade | 23.219M | 31.381M |
Vehicles and Plastic are the major exported products from India to Montenegro at the present moment.
The E-commerce market in Montenegro has reached $166 Million in 2022 with a growth rate of 16.13% and is expected to reach approx $259 Million by 2025.
The main reason behind the eCommerce growth is the Internet penetration rate in Montenegro which has reached 76%.
So, itβs a good scope for Indian exporters and sellers to grab the Montenegro market whether through offline channels or online selling platforms & marketplaces in Montenegro.
Useful resources