Montenegro’s economy surges with 4.3% real GDP growth in Q4 2023

Published on 13. March 2024., News

Montenegro experienced a robust 4.3% growth in its real gross domestic product (GDP) during the fourth quarter of the previous year, according to preliminary figures from the Statistical Office of Montenegro (Monstat).

The country’s GDP for the fourth quarter reached EUR 1.76 billion, marking an increase from EUR 1.59 billion recorded during the same period in 2022.

In a comparative analysis with other European nations, Montenegro shares the lead in GDP growth alongside Malta and Croatia, both registering a notable 4.3% growth.

Croatia closely follows, achieving a real GDP growth rate of 3.8%, while Denmark exhibits a 3.2% increase, and Slovenia records a growth rate of 2.2%. North Macedonia also appears on the list from the region, with a real GDP growth rate of 0.9%.

In the realm of EU countries, the real GDP growth rate is reported at 0.1%.

Monstat clarified that the report presents the outcomes of the preliminary calculation of Montenegro’s quarterly GDP for the final quarter of 2023, considering current and constant prices, utilizing the expenditure approach, and adhering to the ESA 2010 methodology.