Montenegro GDP Annual Growth Rate2022 Data - 2023 Forecast - 2001-2021 Historical

Name: Montenegro GDP Annual Growth Rate
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Keywords: Montenegro,GDP Annual Growth Rate,data,chart,actual,historical,values,calendar,forecast,graph,2021,2022,2023

The Gross Domestic Product (GDP) in Montenegro expanded 7.20 percent in the first quarter of 2022 over the same quarter of the previous year. source: Statistical Office of Montenegro

GDP Annual Growth Rate in Montenegro averaged 2.73 percent from 2001 until 2022, reaching an all time high of 25.80 percent in the third quarter of 2021 and a record low of -26.90 percent in the third quarter of 2020. This page provides the latest reported value for - Montenegro GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Montenegro GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.

GDP Annual Growth Rate in Montenegro is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Montenegro GDP Annual Growth Rate is projected to trend around 3.00 percent in 2023, according to our econometric models.

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Related	Last	Previous	Unit	Reference
GDP Annual Growth Rate	7.20	8.20	percent	Mar 2022
GDP Constant Prices	938.31	1252.86	EUR Million	Mar 2022
Gross Fixed Capital Formation	256286.00	271069.00	EUR Thousand	Dec 2021

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.