PODGORICA (Montenegro), September 23 (SeeNews) – Montenegro's gross domestic product (GDP) slumped by a real 20.2% on the year in the second quarter of 2020, following a 2.7% increase in the previous quarter, preliminary data of the statistical office indicated.
In the second quarter of 2019, Montenegro's real GDP growth was 3.2%.
Montenegro's GDP growth went down nominally to 21.8% in the three months through June 2020, versus a 3.9% growth a year ago, the statistical office said in a statement.
The country’s GDP totalled 900.5 million euro ($1.055 billion) at current prices in the second quarter of 2020, down from 1.152 billion euro a year earlier.
Final consumption expenditure declined to 990.6 billion euro in the second quarter of 2020 from 1.123 billion euro in the like period of the previous year. Exports totalled 201.6 million euro and imports amounted to 595.8 million euro.
Structure of quarterly GDP at current prices, %
|
Q2'20 |
Q2'19 |
Final consumption expenditure |
110.0 |
97.5 |
- Household |
84.9 |
78.7 |
- Government |
25.1 |
18.8 |
Gross fixed capital formation |
30.4 |
33.2 |
Net export/import |
-43.8 |
-34.6 |
Changes in inventories |
3.4 |
3.9 |
($ = 0.853833 euro)