Montenegrin enterprises recorded a combined turnover of 12.7 billion euros in 2024, whichwas 10% higherthan a year earlier, the Statistical Office (Monstat) reported. The main drivers of growth are trade, construction, and tourism, which continue to form the backbone of the national economy.
The sector ofwholesale and retail tradeaccounted for almost half of all business activity — 5.65 billion euros, whileconstructionreached 1.27 billion, andtourism and hospitalityamounted to 911 million euros. Industry posted a turnover of 1.19 billion euros, and transport and logistics — 684 million.
The combined 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 generate almost half of total turnover (48%) and a significant share of employment. Medium-sized enterprises earned 3.5 billion euros, while large ones earned 3.07 billion.
Enterprises in the energy and trade sectors
Company investments rose to 525 million euros, with the largestinvestmentsgoing to energy (109 million) and trade (96 million).
Monstatanalystsnote that Montenegro’s economy remains predominantly service-based, with trade, construction, and tourism dominating. Despite the gradual growth of investment in infrastructure and equipment, the country still depends heavily on small businesses, which shape its entrepreneurial landscape and employment.