PODGORICA (Montenegro), December 20 (SeeNews) – Montenegro's gross domestic product (GDP) grew by a real 4.7% on the year in the third quarter of 2019, following a 3.2% increase in the previous quarter, preliminary data of the statistical office indicated on Friday.
In the third quarter of 2018, Montenegro's real GDP growth was 5.0%.
Montenegro's GDP growth slowed down nominally to 6.5% in the three months through September 2019, from 7.7% a year ago, the statistical office said in a statement.
The country’s GDP totalled 1.631 billion euro ($1.813 billion) at current prices in the third quarter of 2019, up from 1.525 billion euro a year earlier.
Final consumption expenditure grew to 1.098 billion euro in the third quarter of 2019 from 1.070 billion euro in the like period of the previous year. Exports totaled 1.048 billion euro and imports amounted to 868.5 million euro.
Structure of quarterly GDP at current prices, %
|
Q3'19 |
Q3'18 |
Final consumption expenditure |
67.3 |
69.9 |
- Household |
54.2 |
57.2 |
- Government |
13.1 |
12.7 |
Gross fixed capital formation |
20.5 |
21.4 |
Net export/import |
11.0 |
9.0 |
Changes in inventories |
1.1 |
-0.2 |
Quarterly GDP:
|
Q2'19 |
Q2'18 |
GDP at current prices (bln euro) |
1.631 |
1.525 |
Nominal growth rate % |
6.5% |
7.7% |
Real growth rate % |
4.7% |
5.0% |
($ = 0.899743 euro)