Montenegro’s 2011 GDP increases by 3.2%

Podgorica, Montenegro (2 October 2012) – Montenegro’s GDP in 2011 increased by 3.2% compared to 2010, the Statistical Office of Montenegro (MONSTAT) said. The GDP declined by 0.5% in the first quarter, whereas in the next 3 quarters the GDP grew in real terms by 3.6%, 5.9% and 2.6%.

MONSTAT presented the final results of quarterly GDP for 2011 and preliminary results of GDP for the first and second quarters of 2012.

The country’s 2011 GDP totalled EUR 3.234 billion in current prices, which is a nominal growth of 4.2 % compared to 2010.

In 2011, GDP per capita in Montenegro totalled EUR 5.211.

The sectors of trade, agriculture, forestry, fisheries, real estate, information and communication, accommodation and food services, as well as public administration, had the greatest participation in the country’s 2011 GDP.

According to MONSTAT’s preliminary results, the first quarter of 2012 had a real decline of GDP by 2.4% compared to the same period in 2011. In the second quarter of 2012, the GDP has increased by 0.3%.

Montenegro’s GDP totalled EUR 631 million and EUR 787 million in the first two quarters of 2012, respectively.