Montenegrin Domestic Businesses Generate EUR7.9bn in Turnover, Foreign Businesses Generate EUR1.5bn | Beta Briefing

Montenegrin Domestic Businesses Generate EUR7.9bn in Turnover, Foreign Businesses Generate EUR1.5bn

Source: Beta/CdM
SEE Business / Montenegro | 03.11.20 | access_time 07:40

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Last year, companies in Montenegro generated EUR9.4bn in turnover, while foreign companies generated EUR1.55bn, the Pobjeda newspaper has reported. 

The companies with the highest turnover were from Serbia, while companies from China were mostly responsible for the total achieved value of production, the Monstat statistics agency said in a structural study. 

Trade and mechanics’ shops accounted for the biggest portion of total turnover with EUR4bn. Construction generated an additional EUR1.35bn, while the processing industry generated EUR827.9m in turnover. 

Monstat’s data shows that foreign companies accounted for 17.4% of overall added value, CdM has reported. 

The study encompassed 464 business entities that make up 93% of the total value of production of foreign-owned companies. 

Foreign company branches generated EUR1.55bn in turnover. Serbian companies accounted for the highest percentage of turnover (EUR291.9m), followed by Croatian companies (EUR231m) and Austrian (EUR214m). 

The value of production of foreign companies equaled EUR905.8m, while Chinese companies made up the bulk of this (EUR150.1m), followed by Serbian companies with EUR130.4m and Croatian companies (EUR91.7m).

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