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Montenegro's real GDP growth slows to 3.0% y/y in Q1 - table

Author Radomir Ralev
Montenegro's real GDP growth slows to 3.0% y/y in Q1 - table License: Creative Commons BY-NC 2.0

PODGORICA (Montenegro), June 21 (SeeNews) – Montenegro's gross domestic product (GDP) grew by a real 3.0% on the year in the first quarter of 2019, following a 4.8% increase in the previous quarter, preliminary data of the statistical office indicated on Friday.

In the first quarter of 2018, Montenegro's real GDP growth was 4.5%.

Montenegro's GDP growth slowed down nominally to 4.4% in the three months through March 2019, from 7.1% a year ago, the statistical office said in a statement.

The country’s GDP totalled 876.5 million euro ($990.6 million) at current prices in the first quarter of 2019, up from 832.6 million euro a year earlier.

Final consumption expenditure rose to 947.2 million euro in the first quarter of 2019 from 908.9 million euro in the like period of the previous year. Exports totaled 275.8 million euro and imports amounted to 659.2 million euro.

Structure of quarterly GDP at current prices, %

  Q1'19 Q1'18
Final consumption expenditure 108.1 108.2
- Household 88.4 88.3
- Government 19.7 19.9
Gross fixed capital formation 31.8 32.7
Net export/import -43.7 -44.3
Changes in inventories  3.9 3.4

Quarterly GDP:

  Q1'19 Q1'18
GDP at current prices (mln euro) 876.5 832.6
Nominal growth rate % 4.4 7.1
Real growth rate % 3.0 4.5

($ = 0.884843 euro)