In 2023, Montenegro's GDP composition was primarily driven by the Services sector, contributing 38.81%. This was followed by Wholesale, Retail Trade, Restaurants and Hotels at 23.39%, and Mining, Manufacturing, and Utilities at 12.34%. Notable sectors also included Transport, Storage and Communication at 9.63%, Agriculture, Hunting, Forestry, and Fishing at 9.03%, with the Construction sector contributing 6.79% to the GDP. Over the past two years, these sectors have experienced fluctuating growth rates, reflecting a dynamic economic environment with the Services sector, in particular, experiencing significant growth.
Future trends to watch include potential advances in technology and innovation in the Services sector, which may further boost its GDP contribution. Additionally, investments in infrastructure could enhance the performance of the Construction sector. The agriculture and manufacturing sectors might face challenges due to global environmental regulations and changes in international trade agreements, impacting their growth trajectories.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 38.81 | 2016 | |
| 2 | 2 Wholesale, retail trade, restaurants and hotels | 23.39 | 2016 | |
| 3 | 3 Mining, Manufacturing, Utilities | 12.34 | 2016 | |
| 4 | 4 Transport, storage and communication | 9.63 | 2016 | |
| 5 | 5 Agriculture, hunting, forestry, fishing | 9.03 | 2016 | |
| 6 | 6 Construction | 6.79 | 2016 |
