Montenegro Macroeconomic Indicators 2024
Based on the Montenegro Chamber of Commerce presentation
Key indicators
GDP Growth
+3%
Lowest since the pandemic — slowdown in economic activity
Inflation
3.3%
Price stabilisation
Average wage (net)
€876
In December — €1,012
Number of employed
257,390
Record high
Unemployment
11.36%
Decreased compared to the previous year
Industry
Manufacturing industry+11.9%
Mining industry+8.9%
Electricity production−15.1%
Foreign trade
Imports+6.8%
Exports−8.8%
Main trading partners: Serbia, China, Germany, Italy.
Tourism
Number of tourists−0.2%
Number of overnight stays−4.9%
Main tourists: from Serbia, Russia, Bosnia and Herzegovina, Turkey and Germany.
Foreign direct investment
Total investment inflow+3.2%
Main sectors: real estate — 51%, companies and banks — 13%
Leading investors: Serbia, Russia, Turkey, Germany, Switzerland
Construction and banking
Construction sector
Output grew by +2.4%, however the number of building permits issued declined.
Banking sector
Growth in deposits and lending; the system remains stable. Main borrowers: individuals — 43%, businesses — 33%.
Business financial difficulties
The number of companies with blocked accounts grew by 5%, total debt — by 14%.