Veneer sheets market in Montenegro

Earlier Report Observations

The market for veneer sheets in Montenegro expanded sharply from 2021 to 2023, with market volume rising from 10 m³ to 396 m³. Domestic production increased more than fourfold during this period, reaching 445 m³ in 2023.

Trade patterns shifted over these years. Exports fell from 247 m³ in 2021 to 180 m³ in 2023, while imports varied between 57.6 m³ and 166 m³, reducing net exports and boosting domestic availability.

In the earlier part of the period from 2018 to 2020, exports consistently exceeded imports by a wide margin, with annual exports ranging from 786 m³ to 1 127 m³, indicating a strong export orientation prior to the recent market growth.

Production veneer sheets in Montenegro

According to Faostat, there is no production of veneer sheets in Montenegro.

Exports veneer sheets from Montenegro

Exports in kind, m³

In 2020, Montenegro exported 786 m³ of veneer sheets, marking a 30.3% decrease compared to the previous year. Over the period from 2017 to 2020, exports fell by 35.5%, which translates to an average annual decline of 13.6%. The most significant growth occurred in 2019, with a 23.7% increase.

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

From 2017 to 2020, the main markets for Montenegro's veneer sheet exports in volume terms were Serbia, accounting for 28.9% of exports, Bosnia and Herzegovina with 24.9%, and Slovenia at 20.0%. Together, these three countries represented 73.8% of total export flows.

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

In 2020, the value of veneer sheet exports from Montenegro reached 358.2 thousand US dollars, reflecting a 13.9% drop from 2019. Between 2017 and 2020, export value decreased by 21.8%, with a compound annual growth rate of -7.9%. The lowest value was recorded in 2018 at 336.5 thousand US dollars, which also saw the largest decline of 26.5%. In contrast, 2019 experienced the biggest increase at 23.6%.

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

From 2017 to 2020, the three principal markets for Montenegro's veneer sheet exports in value terms were Bosnia and Herzegovina, Serbia, and Slovenia. Combined, they accounted for 72.1% of total export value.

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

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

Imports veneer sheets to Montenegro

Imports in kind, m³

Montenegro's veneer sheet imports declined for the third consecutive year. In 2020, imports totaled {value_last_year} m³, representing a 51.2% decrease compared to the previous year. Over the period from 2017 to 2020, imports fell by 95.1%, equating to an average annual decline of 63.5%.

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

From 2017 to 2020, the leading suppliers of veneer sheets to Montenegro in volume terms were Croatia, with 50.8% of imports, Italy at 21.2%, and Indonesia with 7.2%. Together, these three countries accounted for 79.3% of total imports.

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

After two years of growth, Montenegro's veneer sheet import value declined. In 2020, imports reached 212.0 thousand US dollars, down 47.9% year-over-year. The peak value was recorded in 2019 at 406.9 thousand US dollars, which also saw the largest increase of 44.3%.

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

From 2017 to 2020, key suppliers of veneer sheets to Montenegro in value terms included Greece at 18.2%, Italy with 12.2%, and Croatia at 12.0%. However, even combined, they represented only 42.4% of total import value, indicating a broadly diversified partner base.

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

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