PODGORICA (Montenegro), December 30 (SeeNews) – Montenegro's gross domestic product (GDP) grew by a real 2.4% year-on-year in the third quarter of 2016, following a 2.7% increase in the previous quarter, preliminary data from the country's statistical office indicated on Friday.
In the third quarter of 2015, real GDP growth was 4.5%.
Montenegro's GDP growth accelerated to 5.1% in nominal terms in the three months through September 2016, from 4.9% in the same period a year earlier, the statistical office said in a statement.
The country’s GDP totalled 1.241 billion euro ($1.31 billion) at current prices in the third quarter of 2016, up from 1.181 billion euro a year earlier.
Final consumption totalled 912 million euro in the third quarter of 2016, versus 886 million euro in the corresponding period of 2015. Exports totalled 869 million euro and imports amounted to 681 million euro.
In November, the European Bank for Reconstruction and Development (EBRD) maintained its May forecast for Montenegro’s 2016 economic growth at 4.0% and increased its projection for 2017 to 3.5% from 3.0%.
Percentage share of GDP components (at current prices)
|
Q3 2016 |
Q3 2015 |
Final consumption |
73.5 |
75.1 |
-Household |
59.0 |
60.5 |
-Government |
14.5 |
14.6 |
Gross fixed capital formation |
19.2 |
15.9 |
Net export/import |
15.1 |
19.1 |
-Exports |
70.0 |
71.2 |
-Imports |
54.9 |
52.1 |
Quarterly Gross Domestic Product:
|
Q3 2016 |
Q3 2015 |
GDP at current prices, mln euro |
1,241 |
1,181 |
Nominal growth rate, y/y % |
5.1 |
4.9 |
Real growth rate y/y % |
2.4 |
4.5 |
($=0.947318 euro)