PODGORICA (Montenegro), June 23 (SeeNews) – Montenegro's gross domestic product (GDP) grew by a real 3.2% year-on-year in the first quarter of 2017, following a 2.5% increase in the previous quarter, preliminary data from the country's statistical office indicated on Friday.
In the first quarter of 2016, real GDP growth was 1.1%.
Montenegro's GDP growth quickened 5.9% in nominal terms in the three months through March 2017, from 4.1% a year earlier, the statistical office said in a statement.
The country’s GDP totalled 747.5 million euro ($834.6 million) at current prices in the first quarter of 2017, up from 705.8 million euro a year earlier.
Final consumption totalled 856.8 million euro in the first quarter of 2017, versus 794.6 million euro in the like period of 2016. Exports totalled 187.5 million euro and imports amounted to 551.5 million euro.
Earlier this month, the World Bank said it has lowered its projection for Montenegro’s economic growth to 3.3% in 2017, from 3.6% projected in January.
($=0.895592 euro)