Montenegro’s retail trade experienced a notable increase in turnover during the fourth quarter of 2024 compared to the same period in 2023, as reported by the Statistical Office of Montenegro (MONSTAT). This growth reflects robust consumer spending across various retail sectors, despite ongoing economic challenges.
The preliminary data indicates that retail trade turnover rose by approximately 7.2 percent in current prices and 3.2 percent in constant prices year-on-year for the fourth quarter. This uptick encompasses a diverse range of product categories, including food, fuel, pharmaceuticals, and non-food items.
A closer examination reveals that retail sales of motor fuels increased by 6.9 percent year-on-year, while sales of food products grew by around 6.6 percent. Notably, the retail segment for pharmaceutical and cosmetic products saw significant expansion, rising by approximately 12.5 percent, marking it as the strongest performer among categories. Additionally, sales of other non-food products increased by about 6.5 percent.
However, when comparing quarterly figures, there were mixed trends. Turnover for both motor fuels and food categories declined relative to the preceding third quarter, which is typically expected due to seasonal spending patterns. Specifically, sales of motor fuels fell by about 22.2 percent, and food retail turnover decreased by 22.7 percent, reflecting a slowdown following the summer travel season and holiday-related purchases.
The MONSTAT findings illustrate a continuing upward trajectory in consumer spending and retail sector activity in Montenegro. Households and businesses have maintained their purchasing habits across a wide array of goods despite inflationary pressures impacting food and energy costs over recent years. The performance noted in the fourth quarter indicates a stabilizing trend in consumption and sustained demand across both essential and discretionary retail sectors, underpinned by a gradually improving economic landscape.
