Revenue
27.3% of sector revenue
1,621 companies earned 2.06b€ in 2025, 27.3% of Trade sector revenue. Revenue has grown 2.3× since 2015.
27.3% of sector revenue
977 with at most one employee
Largest employer: Voli Trade (2,406)
Median company 2.6% · 43% profitable
Average per employee, not per company
Revenue in € million (bars) and filing companies (below), 2015–2025
Revenue change vs 2024, companies with at least 1m€ that year
Ranked by total revenue · Showing 501–550 of 1,621
* 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 →
Totals include 1 sole proprietor: natural persons whose statements are shown only in aggregate, never by name. The company count excludes them. How we calculate →
The activity title is the code's title in the KD 2010 classification (NACE Rev. 2), which applies to every year shown. The registry now shows titles from the new classification for the same codes, so titles can differ.
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 900,669,957€ | 921 |
| 2016 | 964,118,232€ | 950 |
| 2017 | 1,051,037,248€ | 1,011 |
| 2018 | 1,098,749,824€ | 1,106 |
| 2019 | 1,138,974,974€ | 1,172 |
| 2020 | 1,002,515,657€ | 1,236 |
| 2021 | 1,200,947,089€ | 1,281 |
| 2022 | 1,511,714,430€ | 1,413 |
| 2023 | 1,724,556,676€ | 1,662 |
| 2024 | 1,871,075,248€ | 1,701 |
| 2025 (Preliminary) | 2,064,616,617€ | 1,621 |
Employees and payroll cost per employee per month*
<0.1% |
| 157,050€ |
| -58.9% |
| 6,637€ |
| 4.2% |
| 1 |
| 929€ |
| 503 | TSM - Company02856921 · Bar | <0.1% | 156,796€ | -37.5% | 6,806€ | 4.3% | 7 | 685€ |
| 504 | Kartolina02377659 · Bar | <0.1% | 155,753€ | +6.7% | -10,578€ | -6.8% | 2 | 958€ |
| 505 | Eko Borsa02813360 · Podgorica | <0.1% | 155,005€ | -9.5% | 9,976€ | 6.4% | 2 | 1,046€ |
| 506 | Pingvin VR02775875 · Pljevlja | <0.1% | 154,926€ | +18.1% | 1,747€ | 1.1% | 5 | 717€ |
| 507 | WBD03019845 · Podgorica | <0.1% | 154,639€ | +15.8% | 2,439€ | 1.6% | 3 | 861€ |
| 508 | Sindarela Commerce02150590 · Podgorica | <0.1% | 152,092€ | -27.0% | 3,040€ | 2.0% | 3 | 678€ |
| 509 | Upndown Group03480640 · Podgorica | <0.1% | 152,000€ | +18.9% | 56,853€ | 37.4% | 7 | 906€ |
| 510 | Suuma Montenegro03407829 · Bar | <0.1% | 151,840€ | +23.6% | 89,124€ | 58.7% | 2 | 813€ |
| 511 | Mitex Frotiri02350637 · Herceg Novi | <0.1% | 151,507€ | +26.5% | -10,865€ | -7.2% | 1 | 629€ |
| 512 | Tehnogama03087972 · Nikšić | <0.1% | 149,137€ | -24.3% | 5,617€ | 3.8% | 2 | 1,419€ |
| 513 | Merkato - F02844133 · Bar | <0.1% | 146,904€ | -15.3% | 8,686€ | 5.9% | 2 | 678€ |
| 514 | Ares Bau03406555 · Podgorica | <0.1% | 146,531€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 12,270€ | 8.4% | 1 | 664€ |
| 515 | Bambi-9902296217 · Podgorica | <0.1% | 144,896€ | -98.1% | 6,032€ | 4.2% | 1 | 810€ |
| 516 | Semir02380528 · Gusinje | <0.1% | 144,760€ | +21.7% | 14,916€ | 10.3% | 1 | 1,644€ |
| 517 | Eurosalon Fabrika Montenegro03082164 · Podgorica | <0.1% | 144,000€ | -0.0% | 1,565€ | 1.1% | 4 | 642€ |
| 518 | Proces Steel03366537 · Tivat | <0.1% | 143,849€ | +53.8% | 7,985€ | 5.6% | 1 | 926€ |
| 519 | Lirs02892022 · Podgorica | <0.1% | 142,822€ | +4.8% | 17,305€ | 12.1% | 4 | 939€ |
| 520 | Link M02799308 · Podgorica | <0.1% | 142,767€ | +4.8% | 9,646€ | 6.8% | 2 | 1,198€ |
| 521 | Jota02156997 · Cetinje | <0.1% | 142,735€ | +0.1% | -1,040€ | -0.7% | 4 | 875€ |
| 522 | Stil Italia03128563 · Bar | <0.1% | 142,735€ | -9.6% | 2,427€ | 1.7% | 2 | 760€ |
| 523 | Wissa Company02331080 · Ulcinj | <0.1% | 141,929€ | +23.6% | 11,668€ | 8.2% | 5 | 559€ |
| 524 | Co Bošković02773759 · Kotor | <0.1% | 141,435€ | +64.4% | 1,284€ | 0.9% | 2 | 675€ |
| 525 | Helena Mne02950324 · Podgorica | <0.1% | 141,260€ | +40.9% | 2,050€ | 1.5% | 1 | 1,437€ |
| 526 | Itm02051931 · Herceg Novi | <0.1% | 140,921€ | +4.7% | 26,718€ | 19.0% | 1 | 2,324€ |
| 527 | Ansa02199050 · Budva | <0.1% | 138,227€ | +12.7% | -15,414€ | -11.2% | 3 | 1,027€ |
| 528 | Amo02155770 · Podgorica | <0.1% | 136,906€ | +27.0% | 8,741€ | 6.4% | 3 | 562€ |
| 529 | Berba Group03382346 · Podgorica | <0.1% | 136,518€ | -33.6% | 105€ | 0.1% | 1 | 1,300€ |
| 530 | Floerty03477983 · Podgorica | <0.1% | 136,514€ | +212.6% | 32,936€ | 24.1% | 1 | 1,057€ |
| 531 | Holding Company03689883 · Podgorica | <0.1% | 135,790€ | +150.2% | 36,586€ | 26.9% | 1 | 696€ |
| 532 | Phone Parts03425819 · Tuzi | <0.1% | 135,699€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 25,159€ | 18.5% | 1 | 675€ |
| 533 | Uzelac02104016 · Podgorica | <0.1% | 135,677€ | -3.9% | 14,558€ | 10.7% | 6 | 560€ |
| 534 | Tomašević Arm03724417 · Podgorica | <0.1% | 135,616€ | No filing for 2024. | 19,088€ | 14.1% | 1 | 1,138€ |
| 535 | Martimarket02967430 · Tuzi | <0.1% | 131,150€ | +29.0% | -7,394€ | -5.6% | 2 | 688€ |
| 536 | Adam Stone of Montenegro03234401 · Podgorica | <0.1% | 129,603€ | -40.4% | -12,612€ | -9.7% | 3 | 1,267€ |
| 537 | Elpro02434512 · Podgorica | <0.1% | 129,236€ | +4.3% | 3,117€ | 2.4% | 1 | 677€ |
| 538 | Bitrović02321513 · Bar | <0.1% | 129,062€ | -24.1% | 556€ | 0.4% | 3 | 525€ |
| 539 | Nomien03460118 · Podgorica | <0.1% | 128,636€ | +72.0% | 17,209€ | 13.4% | 2 | 1,889€ |
| 540 | Prom SM-Company02310988 · Herceg Novi | <0.1% | 127,478€ | -1.6% | 7,323€ | 5.7% | 3 | 890€ |
| 541 | Raičević Co02276780 · Nikšić | <0.1% | 127,203€ | +14.4% | 2,681€ | 2.1% | 3 | 849€ |
| 542 | Inka02628058 · Kotor | <0.1% | 127,122€ | +40.6% | -1,976€ | -1.6% | 3 | 470€ |
| 543 | Antaeus02297370 · Nikšić | <0.1% | 126,835€ | -4.8% | 57€ | 0.0% | 3 | 856€ |
| 544 | Montephoto02301261 · Podgorica | <0.1% | 126,603€ | +15.0% | 12,333€ | 9.7% | 4 | 741€ |
| 545 | MTM Plus03089339 · Bar | <0.1% | 125,218€ | +10.1% | 1,740€ | 1.4% | 2 | 1,865€ |
| 546 | Sinteza Crna Gora02310813 · Kotor | <0.1% | 123,967€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 36,600€ | 29.5% | 3 | 897€ |
| 547 | Inveraqua02778114 · Cetinje | <0.1% | 123,885€ | +35.4% | 9,439€ | 7.6% | 1 | 3,215€ |
| 548 | Eliko02412004 · Berane | <0.1% | 120,913€ | +3.3% | 2,848€ | 2.4% | 2 | 1,319€ |
| 549 | Pro Ip03743616 · Podgorica | <0.1% | 120,212€ | No filing for 2024. | 1,686€ | 1.4% | 1 | 981€ |
| 550 | MDG03351351 · Podgorica | <0.1% | 119,759€ | +25.2% | 7,567€ | 6.3% | 3 | 617€ |