Montenegrin GDP grows 3% in Q1 2019

In Q1 2019 Montenegrin GDP increased by 3 percent compared to the first three months of 2018. According to official government data GDP in absolute terms reached €876.5m. The country's state statistics institute Monstat wrote that the growth was based on increased investments, improved tax and customs duties collection. The biggest gain from a sector standpoint, it wrote was tourism, with a 38 jump in tourist arrivals and 22 percent more overnight stays. It produced 8 percent higher tourism revenues for the quarter than in 2018, or a total of €47.3m. Significant growth was also recorded in the services sector, traffic and information and communication," said Gordana Radojević, director of Monstat.