Montenegrin GDP Increases by 2.7% in Q1  | Beta Briefing

Montenegrin GDP Increases by 2.7% in Q1 

Source: Beta/Pobjeda
Archive / SEE Business | 23.06.20 | access_time 09:16

GDP growth symbol (Foto Pixabay)

Montenegro’s GDP in Q1 2020 increased by 2.7%, statistical authority Monstat has said, adding that the data were preliminary. 

“The gross domestic product of Montenegro in the first quarter of the current year amounted to EUR913.1m, whereas in the same period last year it was EUR886m,” the press release specifies. 

According to preliminary results, in the absolute amount, the added value created totaled about EUR27m more than in the same quarter of 2019, daily Pobjeda reports. 

Considerable growth in Q1 was registered in industrial production, 12.9%, out of which ore and stone mining was 21.3%, the processing industry 17% and electricity supply 6.9%. 

On the other hand, tourism revenue decreased by 4.9% and, according to Central Bank data, added up to EUR45m, 2m less than in Q1 2019.

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