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Thursday, May 23, 2024
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Industrial output in Montenegro shows diverse performance in Q1

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Industrial production in Montenegro saw a 4.9 percent increase in the first quarter of this year compared to the same period last year, according to data released by Monstat.

The statement reveals that mining and quarrying, as well as manufacturing industries, experienced significant growth of 19.7 percent and 23 percent, respectively, compared to the first quarter of last year. However, there was a notable decline of 10.5 percent in the supply of electricity, gas, steam, and air conditioning during the same period.

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On a quarterly basis, industrial production in Montenegro decreased by 4.8 percent compared to the final quarter of last year. This decline was particularly evident in the mining and quarrying sector (5.5 percent) and the manufacturing industry (11.6 percent), while there was a modest increase of 3.4 percent in the supply of electricity, gas, steam, and air conditioning.

The data indicates both positive and negative trends in Montenegro’s industrial landscape, reflecting the complex dynamics of the economy during this period.

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