Montenegro GDP Annual Growth Rate  2001-2017 | Data | Chart | Calendar

The economy of Montenegro advanced 5.1 percent year-on-year in the second quarter of 2017, following a 3.2 percent growth in the previous period. It is the strongest expansion since the fourth quarter of 2013, mainly driven by a sharp increase in government spending (10.2 percent vs 6.5 percent in Q1 of 2017). Meanwhile, household expenditure rose less (5.1 percent vs 6.3 percent in Q1) while fixed investment slumped 10.2 percent (after a 27.8 percent jump in Q1). Also, foreign trade contributed positively as exports grew 1.8 percent (from 15.1 percent in Q1) while imports declined 2.5 percent (from a 10.8 percent rise in Q1). GDP Annual Growth Rate in Montenegro averaged 2.44 percent from 2001 until 2017, 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.

Montenegro GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2017-03-31 10:00 AM GDP Growth Rate YoY 3.4% 2.4% 2.3%
2017-06-23 10:00 AM GDP Growth Rate YoY 3.2% 3.4% 2.9%
2017-09-29 10:00 AM GDP Growth Rate YoY 5.1% 3.2% 2.5%
2017-12-22 10:00 AM GDP Growth Rate YoY 5.1% 2.3%
2018-03-31 10:00 AM GDP Growth Rate YoY
2018-06-23 10:00 AM GDP Growth Rate YoY

Montenegro GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 5.10 3.20 10.70 -5.70 percent [+]
GDP 4.17 4.02 4.59 0.98 USD Billion [+]
GDP Constant Prices 924.73 728.20 1208.91 602.20 EUR Million [+]
GDP per capita 7455.33 7280.77 7455.33 4644.81 USD [+]
GDP per capita PPP 15658.11 15291.48 15658.11 9755.30 USD [+]
Gross Fixed Capital Formation 279602.00 198468.00 311474.00 125180.00 EUR Thousand [+]

Montenegro GDP Annual Growth Rate

As Montenegro formally declared its independence in 2006, it is still in a state of economic transition. The country does not have its own currency and uses Euro as legal tender. The economy relies heavily on foreign tourism and the export of refined metals. On the expenditure side, household consumption is the main component of GDP and accounts for 80 percent of its total use, 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. 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 - actual data, historical chart and calendar of releases - was last updated on December of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
5.10 3.20 10.70 -5.70 2001 - 2017 percent Quarterly

GDP annual growth rate by Country
Country Last
Turkey 11.10 Sep/17
China 6.80 Sep/17
India 6.30 Sep/17
Indonesia 5.06 Sep/17
South Korea 3.80 Sep/17
Spain 3.10 Sep/17
Canada 3.00 Sep/17
Netherlands 3.00 Sep/17
Australia 2.80 Sep/17
Germany 2.80 Sep/17
Euro Area 2.60 Sep/17
United States 2.30 Sep/17
France 2.20 Sep/17
Japan 2.10 Sep/17
Russia 1.80 Sep/17
Italy 1.70 Sep/17
Mexico 1.50 Sep/17
United Kingdom 1.50 Sep/17
Brazil 1.40 Sep/17
Switzerland 1.20 Sep/17