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Montenegro’s economy growth slows in Q1

Montenegro’s gross domestic product grew by a real 2.7% year-on-year in the first quarter of 2020, following a 3.1% increase in the previous quarter, preliminary data from the Statistical Office of Montenegro (Monstat) indicates. In the first quarter of 2019, Montenegro’s real GDP growth was 3%. 

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The country’s GDP growth slowed nominally to 3.1% in the three months through March, from 4.4% a year ago, the Podgorica-based statistics agency said, adding that it is totaled EUR 913.1 million at current prices in the Q1, up from EUR 886 million a year earlier.

Final consumption expenditure grew to EUR 1.006 billion in Q1 from EUR 947.1 million in the same period last year. Exports totaled EUR 273.4 mln and imports amounted to EUR 659.8 mln, Monstat said.