The economy of Montenegro grew 4.7 percent year-on-year in the third quarter of 2019, higher than 3.2 percent in the previous period, preliminary estimates showed. GDP Annual Growth Rate in Montenegro averaged 2.91 percent from 2001 until 2019, reaching an all time high of 10.70 percent in the fourth quarter of 2007 and a record low of -5.70 percent in the fourth quarter of 2009.

GDP Annual Growth Rate in Montenegro is expected to be 2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Montenegro to stand at 2.50 in 12 months time. In the long-term, the Montenegro GDP Annual Growth Rate is projected to trend around 2.90 percent in 2020, according to our econometric models.

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Montenegro GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.70 3.20 10.70 -5.70 2001 - 2019 percent Quarterly
Constant prices

Calendar GMT Actual Previous Consensus TEForecast
2019-03-22 10:40 AM Q4 4.8% 5.0% 3%
2019-06-21 09:40 AM Q1 3.0% 4.8% 2.7%
2019-09-27 09:50 AM Q2 3.2% 3.0% 2.5%
2019-12-20 10:30 AM Q3 4.7% 3.2% 2.6%
2020-03-23 10:40 AM Q4 4.7% 2.7%

Montenegro GDP Annual Growth Rate
Montenegro formally declared its independence in 2006 and it is still in a state of economic transition. The country does not have its own currency and uses Euro as legal tender. Montenegro economy relies heavily on foreign tourism and on exports of refined metals. On the expenditure side, household consumption is the main component of GDP (80 percent), followed by government expenditure (19 percent) and gross fixed capital formation (19 percent). Exports of goods and services account for 40 percent of GDP while imports account for 60 percent, subtracting 20 percent of total GDP.

Montenegro GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 4.70 3.20 10.70 -5.70 percent [+]
GDP 5.45 4.84 5.45 0.98 USD Billion [+]
GDP Constant Prices 1602.92 1129.60 1602.92 602.20 EUR Million [+]
GDP per capita 8226.60 7845.40 8226.60 4793.05 USD [+]
GDP per capita PPP 17278.06 16477.39 17278.06 10066.69 USD [+]
Gross Fixed Capital Formation 377654.00 275794.00 380426.00 125180.00 EUR Thousand [+]