PODGORICA (Montenegro), March 17 (SeeNews) – Montenegro's gross domestic product (GDP) declined by a real 7.5% on the year in the fourth quarter of 2020, following a 26.9% slump in the previous quarter, preliminary data of the statistical office indicated.
In the fourth quarter of 2019, Montenegro's real GDP growth was 3.1%.
Montenegro's GDP went down nominally by 7.4% in the three months through December 2020, versus a 5.5% growth a year ago, the statistical office said in a statement.
The country’s GDP totalled 1.16 billion euro ($1.49 billion) at current prices in the fourth quarter of 2020, down from 1.24 billion euro a year earlier.
Final consumption expenditure fell to 1.156 billion euro in the fourth quarter of 2020 from 1.263 billion euro in the like period of the previous year. Exports totalled 306.4 million euro and imports amounted to 660 million euro.
Structure of quarterly GDP at current prices, %
|
Q4'20 |
Q4'19 |
Final consumption expenditure |
99.7 |
100.8 |
- Household |
75.1 |
77.7 |
- Government |
24.5 |
23.1 |
Gross fixed capital formation |
26.0 |
28.2 |
Net export/import |
-30.5 |
-35.4 |
Changes in inventories |
4.9 |
6.5 |