Legal basis

Legal basis for conducting this statistical survey is Law on Official Statistics and Official Statistical System of Montenegro (Official Gazette of Montenegro No.18/12 and 14/19) and Annual  plan of surveys.

METHODOLOGICAL BASIS

Internationally proposed methodology for calculation of national accounts is System of National Accounts 2008 (SNA 2008) that offers detailed theoretical framework, while for EU members it is prescribed methodology European System of National Accounts (ESA 2010) which is completely consistent with SNA 2008 and adjusted to European environment and practice.

Purpose of survey

The purpose of the compilation of quarterly gross domestic product (QGDP) is to monitor short-term dynamics in economic activities, i.e. presentation of general picture of current economic changes within quarterly dynamics. In this manner, a more regular picture of the situation in the economy is provided; detailed information, both financial and non-financial, of economic activity. Compilation of QGDP is done by production and expenditure approach.

Coverage of survey

National accounts describe the total economy of a country. All units that have their centre of predominant economic interest in the economic territory of that country are covered. Compilation of GDP covers all NACE Rev. 2 sectors except sector U: Activities of extraterritorial organisations, as well as all the units following concept of the system of national accounts defined by international methodologies SNA 2008 and ESA 2010.

Data sources

Data sources used for QGDP compilation are various and covered entire spectar of economic and financial indicators,  direct or indirectly connected to aggregates of economic activities Direct sources are specially created surveys on which base special variables are defined in short-term dinamics for the puproses of QGDP compliation. Indirect sources are all the sources i.e. time series which describe trend of some economic actvities on quarterly base.

DATA AVAILABILITY:

Time series of estimated quarterly GDP data are avilable for:

• Quarterly national accounts, main aggregates, from 1Q2006
• Quarterly GDP by production approach, at current prices, from 1Q2010
• Quarterly GDP by production approach, at constant prices (previous year prices), from 1Q2011  
• Quarterly GDP by production approach, in average prices of 2010 (CLV 2010=100), from 1Q2011
• Quarterly GDP by expenditure approach, at current prices, from 1Q2006
• Quarterly GDP by expenditure approach, at constant prices (previous year prices), from 1Q2007
• Quarterly GDP by expenditure approach, at current prices, seasonal adjusted, from 1Q2006
• Quarterly GDP, by expenditure approach, in average prices of 2010 (CLV 2010=100), from 1Q2007

For more details on published data, methodology, and releases please see the sections below.