Montenegro’s retail sector demonstrated significant resilience in the fourth quarter of 2024, with turnover figures reflecting a robust consumer spending trend, as reported by the Statistical Office of Montenegro (MONSTAT). This growth comes amid varying economic conditions and indicates a steady demand across several retail categories.
Preliminary data reveals that retail trade turnover increased by approximately 7.2 percent in current prices and 3.2 percent in constant prices compared to the same period in 2024. This surge is attributed to heightened sales activity during the year-end shopping season, encompassing a diverse array of product segments, including food, fuel, pharmaceuticals, and non-food items.
A closer examination of the data shows that sales of motor fuels rose by 6.9 percent year-on-year, while food products experienced a growth of about 6.6 percent. Notably, the retail sale of pharmaceutical and cosmetic products outperformed other categories with an increase of roughly 12.5 percent. Additionally, sales of other non-food products also saw an uptick of approximately 6.5 percent year-on-year.
However, when comparing the fourth quarter to the preceding third quarter, there were declines in turnover for both motor fuels and food categories, which is consistent with seasonal trends. Specifically, motor fuel sales dropped by about 22.2 percent, while food retail turnover fell by 22.7 percent, reflecting typical post-summer spending patterns.
The MONSTAT findings underscore a persistent growth trajectory in consumer purchasing power and retail sector dynamics in Montenegro. Households and businesses have continued to engage in diverse purchasing behaviors despite inflationary challenges impacting food and energy costs. The fourth quarter results indicate a stabilizing consumption pattern and sustained demand across essential and discretionary retail segments, bolstered by an improving economic landscape.
