Real growth rate of gross domestic product for 2014 is 1.8%. The release presents results of gross domestic product (GDP) for Montenegro by the production and expenditure approach for the 2014, at current and constant prices and revised data series for period 2010 – 2013.
Gross domestic product of Montenegro in 2014 is 3 458 million EUR, while for 2013 it was 3 362 million EUR. Gross domestic product per capita in 2014 is 5 561 EUR and for 2013 was 5 412 EUR.
After adoption of European system of accounts methodology – ESA 2010 it was necessary to make a revision of published GDP data for previous period (2010-2013). The changes which have the impact on the GDP level are related to the methodological changes based on ESA 2010: capitalization of expenditure of research and development and capitalization of the military equipment expenditure and additional statistical improvements related to the the improvements of the compilation of FISIM, government expenditure and imputed rents with the aim of harmonization with the European union standards.
The changes affected the average increase of 0.9% at the GDP level in nominal terms during the period 2010-2013, but did not significantly change published real growth rates. The real growth rate for 2011 was on the same level, while real growth rate for 2012 was decreased for 0.2% p.p, and for 2013 increased for 0.2% p.p. regarding to the previously published GDP rates.