Roundwood coniferous market in Montenegro

Earlier Report Observations

The coniferous roundwood market in Montenegro declined from 862.7 thousand m³ in 2018 to 602.2 thousand m³ in 2023. A sharp contraction occurred in 2019, when production dropped by over 190 thousand m³, following the introduction of the national Smart Specialization Strategy 2019–2024, which set new directions for forestry management. The COVID-19 pandemic in 2020 then hampered economic momentum, likely limiting any substantial market recovery.

After a further dip in 2021, market volume experienced a temporary uptick in 2022. However, this rebound was reversed in 2023 when production fell to 599.9 thousand m³. This final decrease was primarily due to global trade disturbances in the wood products sector and falling demand from major export destinations like the EU and China, which reduced orders for raw timber. Concurrently, a regional restructuring of solid wood furniture manufacturing began to dampen demand for coniferous roundwood as a feedstock.

Production coniferous roundwood in Montenegro

In kind, 2017-2020, K m³

Top producers of coniferous roundwood, 2017-2020

World map of production of coniferous roundwood, 2017-2020

Market performance showed noticeable fluctuations during this period. Production reached its lowest point in 2017, then peaked in 2018 with a 2.9-fold difference between these years. In 2020, Montenegro produced 680.6 K m³ of roundwood coniferous, representing a 1.5% increase compared to the previous year. The maximum production volume was recorded in 2018 at 861.0 K m³. The largest decline occurred in 2019 with a 22.1% decrease, while the most significant increase was in 2018 with a 187.7% rise.

Annual dynamics of production in Montenegro in kind, 2017-2020, K m³

In value, 2017-2020, M $ US

Market performance showed noticeable fluctuations during this period. The value of production fell to its lowest point in 2017, then hit its maximum in 2018 with a 3.4-fold variation between these years. In 2020, the output of roundwood coniferous in Montenegro was valued at 115.4 M $ US, marking a 7.3% increase over the past year. The maximum value was recorded in 2018 at 146.6 M $ US. The largest decline occurred in 2019 with a 26.7% decrease, while the most significant increase was in 2018 with a 239.2% rise.

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

Exports coniferous roundwood from Montenegro

Exports in kind, m³

The market exhibited an unstable trend throughout this timeframe. Exports reached their lowest point in 2017, then peaked in 2019 with a 2.4-fold gap between these years. In 2020, Montenegro's roundwood coniferous exports totaled 617 m³, which is 15.4% lower than the previous year. The maximum value was recorded in 2019 at 729 m³. The largest increase occurred in 2018 with a 96.1% rise.

Annual dynamics of product's exports from Montenegro in kind, 2017-2020, m³

From 2017 to 2020, Serbia was the principal market for roundwood coniferous exports from Montenegro, accounting for 88.8% of total exports in kind. Other destinations formed a less significant portion of the export structure.

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

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

Exports in value, K $ US

Volatility characterized the market behavior during these years. Exports reached their trough in 2017, then peaked in 2019 with a 2.6-fold fluctuation. In 2020, Montenegro's roundwood coniferous exports stood at 105 K $ US, marking a strong drop of 10.5% compared to the past year. The maximum value was recorded in 2019 at 117 K $ US. The largest increase occurred in 2018 with a 131.2% rise.

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

From 2017 to 2020, exports in value terms of roundwood coniferous from Montenegro were largely concentrated on Serbia, which accounted for 89.8% of total flows. Other countries together formed the residual portion of exports.

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

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

Imports coniferous roundwood to Montenegro

Imports in kind, m³

Roundwood coniferous shipments to Montenegro increased for the third consecutive year. In 2020, import volume registered 3 786 m³, representing a moderate gain of 8.5% versus the previous year. Between 2017 and 2020, imports increased by 149.6%, equating to an annualized growth rate of 35.6%.

Annual dynamics of product's imports to Montenegro in kind, 2017-2020, m³

From 2017 to 2020, Slovenia and Bosnia and Herzegovina together accounted for 80.9% of total imports in kind. Other countries formed a diversified but less significant portion of the import structure.

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

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

Imports in value, K $ US

Roundwood coniferous deliveries to Montenegro increased for the third consecutive year. In 2020, imports totaled 1 327 K $ US, which is 20.1% greater year-over-year. Between 2017 and 2020, imports increased by 154.3%, equating to an annualized growth rate of 36.5%.

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

From 2017 to 2020, Slovenia (49.2% of imports in value terms), Bosnia and Herzegovina (30.8% of imports in value terms), and Serbia (20.0% of imports in value terms) led the structure of imports in value terms, together representing 100.0% of total flows.

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

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