In 2025, companies in Podgorica earned 55.0% of all company revenue in Montenegro, ahead of Nikšić (8.4%) and Budva (5.7%). Per resident, Podgorica leads with 54,085€ of company revenue (Montenegro: 28,310€).
Totals include 1,640 sole proprietors: natural persons whose statements are shown only in aggregate, never by name. The company count excludes them. IRMS gives no seat for sole proprietors, so nearly all of them are in the no-municipality row. How we calculate →
* Avg payroll cost per employee per month = wages, wage compensation and other personnel expenses from the income statement (AOP 211: net wages, taxes and contributions on wages including the employer's, and other personnel expenses) / employees / 12. It is not an employee's gross or net salary; reporting errors can move it significantly, and values below 300€ a month are not shown. How we calculate →
Revenue
Click a municipality on the map to see its figures here.
Companies, revenue, margin and employees by the municipality of the registered seat in 2025, with residents from the 2023 census.
| # | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | Podgorica | 12,148 | 9.7b€ | +9.4% | 7.7% | 83,893 | 179,505 | 54,085€ | 467 |
| 2 | Nikšić | 1,880 | 1.5b€ | +3.6% | -1.4% | 13,866 | 65,705 | 22,573€ | 211 |
| 3 | Budva | 5,552 | 1.0b€ | +2.1% | 2.7% | 18,193 | 27,445 | 36,604€ | 663 |
| 4 | Bar | 3,326 | 758.9m€ | +13.2% | 3.9% | 12,028 | 45,812 | 16,566€ | 263 |
| 5 | Tivat | 2,026 | 720.4m€ | +19.1% | 4.0% | 7,236 | 16,338 | 44,093€ | 443 |
| 6 | Herceg Novi | 2,701 | 622.1m€ | +7.9% | 2.4% | 10,437 | 30,824 | 20,183€ | 339 |
| 7 | Kotor | 1,334 | 497.1m€ | +10.4% | -0.2% | 6,052 | 22,746 | 21,856€ | 266 |
| 8 | Bijelo Polje | 1,317 | 408.7m€ | +11.7% | 4.8% | 5,735 | 38,662 | 10,570€ | 148 |
| 9 | Danilovgrad | 554 | 383.5m€ | +19.9% | 5.6% | 3,648 | 18,617 | 20,598€ | 196 |
| 10 | Ulcinj | 934 | 282.8m€ | +11.7% | 5.3% | 4,249 | 20,507 | 13,791€ | 207 |
| 11 | Zeta | 260 | 275.2m€ | +12.2% | 5.2% | 1,326 | 16,071 | 17,124€ | 83 |
| 12 | Pljevlja | 499 | 227.9m€ | +6.7% | 0.1% | 3,876 | 24,134 | 9,444€ | 161 |
| 13 | Cetinje | 553 | 210.3m€ | +2.7% | 2.6% | 1,944 | 14,494 | 14,511€ | 134 |
| 14 | Tuzi | 323 | 195.3m€ | +26.3% | 6.3% | 1,981 | 12,979 | 15,051€ | 153 |
| 15 | Berane | 770 | 172.6m€ | +31.3% | 12.3% | 3,005 | 24,645 | 7,002€ | 122 |
| 16 | Rožaje | 584 | 118.8m€ | +15.7% | 4.4% | 2,023 | 23,184 | 5,123€ | 87 |
| 17 | Kolašin | 223 | 52.6m€ | +16.4% | -2.8% | 1,016 | 6,700 | 7,852€ | 152 |
| 18 | Mojkovac | 128 | 52.3m€ | -6.5% | 9.0% | 827 | 6,728 | 7,780€ | 123 |
| 19 | Andrijevica | 64 | 19.9m€ | +30.2% | 12.0% | 388 | 3,910 | 5,083€ | 99 |
| 20 | Žabljak | 103 | 16.9m€ | +27.2% | 2.2% | 403 | 2,941 | 5,757€ | 137 |
| 21 | Plav | 102 | 12.8m€ | +16.2% | 4.4% | 303 | 9,050 | 1,410€ | 33 |
| 22 | Šavnik | 35 | 8.2m€ | +10.6% | 4.0% | 130 | 1,569 | 5,228€ | 83 |
| 23 | Petnjica | 51 | 5.2m€ | +8.5% | -1.1% | 118 | 4,957 | 1,045€ | 24 |
| 24 | Plužine | 39 | 4.9m€ | +2.2% | 6.3% | 135 | 2,177 | 2,271€ | 62 |
| 25 | Gusinje | 21 | 4.9m€ | +27.0% | -0.3% | 63 | 3,933 | 1,253€ | 16 |
| Unknown municipality | 180 | 407.2m€ | +12.5% | 31.0% | 3,773 | — | — | — | |
| Montenegro | 35,707 | 17.7b€ | +9.6% | 6.1% | 186,648 | 623,633 | 28,310€ | 299 |
The revenue change compares the same companies, those that filed in both years.
Revenue and employees follow each company's registered seat, so municipalities that host large head offices (such as Podgorica) show more per resident than is produced there. Employees are those in the financial statements, not the municipality's employed residents.
Residents: Statistical Office of Montenegro (MONSTAT), 2023 census.
Companies are assigned to the municipality of their current seat for every year
Regional context available civic data: Agriculture, Education, Employment by sector, Population & migration, Tourism (2018–2025).
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