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2.7.4 Industrial production
Montenegro’s industrial sector started recovering from the coronacrisis
but was hit by the Russian war in Ukraine and the disruption of global
supply chains. As the war continues into 2023, this is likely to further
drag down Montenegro’s industry.
In the third quarter of 2022, industrial production decreased by 6.8%
year on year after rising by 17.2% y/y in the previous quarter, according
to the latest available statistics office data.
Mining and quarrying climbed by 9.7% y/y in the third quarter, while the
output in the manufacturing sector fell by 9% y/y. The electricity, gas,
steam and air conditioning supply sector decreased by 7.8% y/y in the
period under review.
In the third quarter, industrial production in Montenegro remained
unchanged compared with the second quarter of 2022.
Industrial sales in Montenegro grew by 20.4% y/y in the third quarter
and fell by 4.1% from the previous quarter.
59 SE Outlook 2023 www.intellinews.com
