Market research

Coal market in Montenegro

Release date: Mar 30, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

Between 2018 and 2022, Montenegro's coal production showed a variable trajectory, starting at 1 596 thousand tons and reaching 1 723 thousand tons by 2022. The domestic market volume followed a similar pattern, declining to 1 389 thousand tons in 2021 before recovering to 1 488 thousand tons in the following year. This period was characterized by moderate annual fluctuations rather than a steady trend.

A significant development was the sharp rise in export volumes, which more than doubled from 94 thousand tons in 2018 to 234 thousand tons in 2022. This expansion in external shipments contributed to the overall dynamics of production, even as domestic consumption experienced volatility during the same timeframe.

In value terms, the market reflected these volume changes alongside shifts in pricing, with the total market value dropping to 70.7 million USD in 2021 before rebounding to 80.0 million USD in 2022. The monetary movements indicate that price factors also played a role in the market's performance over these years.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2022
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2022
  2. 4.1.2. In value
    1. 4.1.2.1. Production, 2018-2022
    2. 4.1.2.2. Imports, 2018-2024
    3. 4.1.2.3. Exports, 2018-2024
    4. 4.1.2.4. Market size, 2018-2022
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Montenegro
  1. 5.1.1. Annual dynamics of production in Montenegro in kind, 2018-2022, K t
  2. 5.1.2. Annual dynamics of production in Montenegro in value, 2018-2022, $ US
2. 5.2. Global production by Country, 2018-2022
  1. 5.2.1. Annual dynamics of production by country in kind, 2018-2022, K t
  2. 5.2.2. Structure of production by countries in kind, 2018-2022
  3. 5.2.3. Dynamics of peoduction structure by countries in kind, 2018-2022
6. Exports
1. 6.1. Exports (Direct Data)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, K t
    1. 6.1.2.1. Annual dynamics of product's exports from Montenegro in kind, 2018-2024, K t
    2. 6.1.2.2. Dynamics of product's exports in kind from Montenegro by countries, 2018-2024, K t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.1.3. Exports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Montenegro in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Montenegro by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's exports, $ US/t
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Montenegro, 2018-2024, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's exports from Montenegro by countries, 2018-2024, $ US/t
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, K t
    1. 6.2.2.1. Annual dynamics of product's exports from Montenegro in kind, 2018-2024, K t
    2. 6.2.2.2. Dynamics of product's exports in kind from Montenegro by countries, 2018-2024, K t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.2.3. Exports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Montenegro in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Montenegro by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's exports, $ US/t
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Montenegro, 2018-2024, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's exports from Montenegro by countries, 2018-2024, $ US/t
7. Imports
1. 7.1. Imports (Direct Data)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, K t
    1. 7.1.2.1. Annual dynamics of product's imports to Montenegro in kind, 2018-2024, K t
    2. 7.1.2.2. Dynamics of product's imports in kind to Montenegro by countries, 2018-2024, K t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.1.3. Imports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Montenegro in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Montenegro by countries, 2018-2024, K $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's imports, $ US/t
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Montenegro, 2018-2024, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's imports to Montenegro by countries, 2018-2024, $ US/t
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, K t
    1. 7.2.2.1. Annual dynamics of product's imports to Montenegro in kind, 2018-2024, K t
    2. 7.2.2.2. Dynamics of product's imports in kind to Montenegro by countries, 2018-2024, K t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.2.3. Imports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Montenegro in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Montenegro by countries, 2018-2024, K $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's imports, $ US/t
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Montenegro, 2018-2024, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's imports to Montenegro by countries, 2018-2024, $ US/t
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, K t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, K t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production coal in Montenegro

In kind, 2017-2020, K t

Top producers of coal, 2017-2020

Source: SHEV.io

World map of production of coal, 2017-2020

Source: SHEV.io

Montenegro's coal production increased for the third consecutive year in 2020, reaching 1 665 thousand tons. This represents a 3.8% rise compared to 2019. Looking at the period from 2017 to 2020, production grew by 12.9%, which translates to an average annual increase of 4.1%.

Annual dynamics of production in Montenegro in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	8.2%	0.6%	3.8%	4.1%

Source: SHEV.io

In value, 2017-2020, K $ US

In 2020, Montenegro's coal output was valued at 87 451 thousand US dollars, marking a 5.7% increase from the previous year. Between 2017 and 2020, production value rose by 8.6%, averaging 2.8% per year. The highest value was recorded in 2018 at 88 766 thousand US dollars, followed by a 6.8% decline in 2019. The largest annual increase occurred in 2018, with a 10.2% rise.

Annual dynamics of production in Montenegro in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	10.2%	(6.8%)	5.7%	2.8%

Source: SHEV.io

Exports coal from Montenegro

Exports in kind, K t

Montenegro exported 96.2 thousand tons of coal in 2020, a 13.1% decrease from 2019. The lowest export volume was in 2018 at 93.5 thousand tons, while the highest was in 2019 at 110.7 thousand tons. The largest annual increase took place in 2019, with exports growing by 18.3%.

Annual dynamics of product's exports from Montenegro in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	(3.8%)	18.3%	(13.1%)	(0.3%)

Source: SHEV.io

From 2017 to 2020, Montenegro's coal exports in volume terms were highly concentrated, with Serbia accounting for 94.9% of the total.

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Montenegro in kind, 2017-2020

Source: SHEV.io

Exports in value, K $ US

Montenegro's coal exports were valued at 5 052 thousand US dollars in 2020, down 11.4% year-over-year. Between 2017 and 2020, export value decreased by 4.8%, averaging a 1.6% annual decline. The peak value was in 2019 at 5 702 thousand US dollars, which also saw the largest annual increase of 9.6%.

Annual dynamics of product's exports from Montenegro in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	(2.0%)	9.6%	(11.4%)	(1.6%)

Source: SHEV.io

During 2017–2020, virtually all of Montenegro's coal exports in value terms went to Serbia, which accounted for 95.9% of the total.

Structure of product's exports in value by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Montenegro in value, 2017-2020

Source: SHEV.io

Imports coal to Montenegro

Imports in kind, K t

Coal imports into Montenegro showed volatility from 2017 to 2020. The lowest volume was in 2019 at 0.2 thousand tons, while the highest was in 2018 at 0.8 thousand tons, representing a 4.3-fold difference between these years. In 2020, imports reached 0.6 thousand tons, a sharp increase of 213.5% compared to 2019. The largest decline occurred in 2019, with a 76.5% drop.

Annual dynamics of product's imports to Montenegro in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	48.2%	(76.5%)	213.5%	2.9%

Source: SHEV.io

From 2017 to 2020, Turkey and Slovenia were the dominant suppliers of coal to Montenegro in volume terms, together accounting for 92.3% of total imports, with other partners playing a minor role.

Structure of product's imports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Montenegro in kind, 2017-2020

Source: SHEV.io

Imports in value, K $ US

Montenegro's coal import values exhibited an unstable trend from 2017 to 2020. The lowest value was in 2019 at 82 thousand US dollars, and the highest was in 2018 at 190 thousand US dollars, a 2.3-fold difference. In 2020, imports amounted to 137 thousand US dollars, a significant 67.5% increase from 2019. The largest decline was in 2019, with a 56.9% decrease.

Annual dynamics of product's imports to Montenegro in value, 2017-2020, K $ US

Parameter		2018	2019	2020	CAGR
1	Change from last year	37.4%	(56.9%)	67.5%	(0.3%)

Source: SHEV.io

Throughout 2017–2020, Turkey and Slovenia remained the main sources for Montenegro's coal imports in value terms, jointly accounting for 87.1% of the total, while other partners held much smaller shares.

Structure of product's imports in value by countries, 2017-2020

Source: SHEV.io

World map of product's imports to Montenegro in value, 2017-2020

Source: SHEV.io