page_title: Podgorica
section_title: Economy
hierarchical_section_title: Podgorica / Economy
caption_attribution_description: English: Aerial view of the Plantaze vineyard by the Podgorica airport, Montenegro. This wine Field is the largest single one in Europe, it fills up almost the entire northern part of the Podgorica plain and produces the main staple wines of Montenegro. The "Vranac" red wine is among the main brands. The dark shadow is the plane's propellar.
context_page_description: Podgorica is the capital and largest city of Montenegro.
  The city was known as Titograd between 1946 and 1992—in the period that Montenegro formed, as the Socialist Republic of Montenegro, part of the Socialist Federal Republic of Yugoslavia —in honour of Josip Broz Tito.
  Podgorica's favorable position at the confluence of the Ribnica and Morača rivers and at the meeting-point of the fertile Zeta Plain and Bjelopavlići Valley has encouraged settlement. The city is close to winter skiing centers in the north and to seaside resorts on the Adriatic Sea.
  Podgorica Municipality covers 10.4% of Montenegro's territory and is home to 29.9% of the country's population. It is the nation's administrative center and its economic, cultural, and educational focus.
context_section_description: Podgorica is not only the administrative center of Montenegro but also its main economic engine. Most of Montenegro's industrial, financial, and commercial base is in Podgorica.
  Before World War I, most of Podgorica's economy was in trade and small-scale manufacturing, which was an economic model established during the long rule of the Ottoman Empire. After World War II, Podgorica became Montenegro's capital and a focus of the rapid urbanization and industrialization of the SFRY era. Industries such as aluminium and tobacco processing, textiles, engineering, vehicle production, and wine production were established in and around the city. In 1981, Podgorica's GDP per capita was 87% of the Yugoslav average.
  In the early 1990s, the dissolution of Yugoslavia, Yugoslav wars, and the UN-imposed sanctions left Podgorica's industries without traditional markets, suppliers, and available funds. This, combined with typical transition pressures, led to a decline of the industrial base, where many industries collapsed leaving thousands of citizens unemployed. However, some of the industries, including Podgorica aluminum smelter and Plantaže, managed to survive the turmoil of the 1990s, and are still major contributors to Montenegrin export and industrial output to this day.
  As Montenegro began its push for independence from Serbia in the late 1990s, Podgorica greatly benefited from the increased concentration of government and service sectors. In addition to almost the entire country's government, Podgorica is home to the Montenegro Stock Exchange and other major Montenegrin financial institutions, along with telecommunications carriers, media outlets, Montenegrin flag carrier airline, and other significant institutions and companies.
  The large presence of government and service sectors spared the economy of Podgorica from prolonged stagnation in the late 2000s recession, which hit Montenegro hard. Although in mid-2014, some 30% of Montenegro's citizens lived in Podgorica, the municipality accounted for 44% of the country's employed. Out of the entire mass of paid net salaries in Montenegro in that year, some 47% was paid in Podgorica. The average monthly net salary in May 2014 was €509 in Podgorica municipality.
caption: Aerial view of the Plantaže vineyard, this wine field is the largest single one in Europe.
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