In 2024, Montenegrin enterprises recorded a total turnover of 12,7 billion euros, which 10% more, compared to the previous year, according to the National Statistical Office (Monstat). The main drivers of growth are trade, construction, and tourism, which continue to form the backbone of the national economy.
The wholesale and retail trade accounted for almost half of all business activity – 5,65 billion euros, while building reached 1,27 billion, and tourism and hotel business — 911 million euros. Industry posted a turnover of 1,19 billion euros, and transport and logistics 684 million.
The total gross value added (GVA) of enterprises amounted to 3,7 billion euros, of which trade accounted for 987 million, tourism for 448 million, and the information and communications sector for 328 million.
Small businesses remain the backbone of the economy: companies with up to 49 employees account for almost half of total turnover (48%) and a significant portion of employment. Medium-sized enterprises earned €3,5 billion, while large enterprises earned €3,07 billion.
Enterprises in the energy and trade sectors
The companies' investments grew to 525 million euros, with the largest investments fell on energy (109 million) and trade (96 million).
Analysts Monstate They note that Montenegro's economy remains predominantly service-based, with trade, construction, and tourism dominating. Despite the gradual increase in investment in infrastructure and equipment, the country still relies heavily on small businesses, which shape its entrepreneurial landscape and employment.
