Category: Economic statistics
Area: National accounts
Survey / data collection: Quarterly national accounts

MONSTAT metadata
Reference metadata
  1. Contact
  2. Metadata update
  3. Statistical presentation
  4. Unit of measure
  5. Reference period
  6. Institutional mandate
  7. Confidentiality
  8. Release policy
  9. Frequency of dissemination
10. Accessibility and clarity
11. Quality management
12. Relevance
13. Accuracy and reliability
14. Timeliness and punctuality
15. Coherence and Comparability
17. Data revision
18. Statistical processing
19. Comment

Note: For any question on metadata, please contact MONSTAT metadata support.

                                                                                     1. Contact                                                                           Vrh
1.1. Contact organization: Statistical Office of Montenegro - MONSTAT
1.2. Contact organization unit: Quarterlz National Accounts Statistics Department
1.2. Contact organization unit: IV Proleterske 2, 81000 Podgorica, Montenegro

                                                                                      2. Metadata update                                                                       Top
2.1. Metadata last certified:1 December 2022
2.2. Metadata last posted:14 December 2022
2.3. Metadata last update:1 December 2022

                                                                                3. Statistical presentation                                                                  Top
3.1. Data description:The main aim of the quarterly calculation of the gross domestic product according to the production and expenditure methods is to obtain the basic macro-economic aggregate in the system of national accounts. By applying those methods for compilation, the establishment of the basic relationship on which the national accounts are based is considered, namely, that the total value of available goods and services (supply) must be equal to the total value of consumed goods and services (use) in the observed period at the level of the total economy. Quarterly gross domestic product according to the production method is compiled as the sum of added values of all resident institutional units. Quarterly gross domestic product according to the expenditure method is calculated as the sum of household final consumption expenditure, government final consumption expenditure, gross fixed capital formation, changes in inventories and net exports and imports of goods and services. The results of the estimation are valued at current and constant prices (previous year prices and in average prices of 2010). The seasonal adjustment was performed using JDemetra software, using the X-13ARIMA-SEATS algorithm. In the general specification, the calendar adjustment and the number of working days were performed. A direct approach to seasonal adjustment has been applied, which means that all time series (including aggregates) are seasonally adjusted individually. After seasonal adjustment, results are obtained for each series and aggregate individually, where the sum of the components is different from the aggregate.
3.2. Classification system:KD 2010 (NACE Rev. 2.), COFOG, COICOP, CPA, CN, HS
3.3. Sector coverage:The estimation of QGDP includes all activities within the production boundary defined methodologies SNA 2008 and ESA 2010 and covers the entire territory of Montenegro.
3.4. Statistical concepts and
       definitions:
Quarterly gross domestic product (QGDP) measures the total income and total expenditure of the economy. QGDP represents the market value of all final goods and services produced within a country in a quarter (three months). GDP at market prices is the final result of the production activity of resident units and can be calculated in 3 ways: - Production Approach, - Expenditure approach, and - Income approach. Monstat currently compiles QGDP on production and expenditure approach. According to the production approach: GDP = the sum of gross value added + taxes less subsidies on products. Gross value added is the net result of a weighted-output at basic prices minus intermediate consumption valued at purchasers prices. Output consists of the products manufactured during the accounting period. Intermediate consumption includes the value of goods and services used as inputs in the production process, excluding fixed assets whose consumption is recorded as consumption of fixed capital. Taxes less subsidies on products are taxes (paid) less subsidies (received) per unit of product or service provided. According to the expenditure approach: GDP = final consumption of households + government final consumption (individual and collective) + gross fixed capital formation + changes in inventories + exports - imports *Final consumption expenditure of households is spending (including imputed expenditures) resident households on individual consumption goods and services (e.g. expenditure on food, clothing and footwear, housing, etc.). These expenditures do not include expenditures of households for the purchase of fixed assets (e.g. dwellings or valuables). *Government final consumption expenditure is expenses (including imputed expenditure) of the government sector to the individual and collective consumer services. They are divided into two groups: - The value of goods and services produced by the country and which, by convention, the country consumes - collective consumption (for example: services of the courts, defense, security, environment, etc.) and -Expenditures that the state performs for the purchase of consumer goods and services produced by market producers and which the state, without any transformation, supplying households through social transfers in kind - individual consumption (for example medicament taking on receipt according regular health insurance ). *Gross capital formation consists of gross fixed capital formation, changes in inventories and net valuables. -Gross investments in fixed assets amounting to measure the producers acquisition net of disposition of new or used fixed assets during the accounting period. -Net investments in fixed assets gross investments in fixed assets net of consumption of fixed assets (depreciation). -Changes in inventories are the difference between the level of stocks at the beginning and end of the year, valued at the average market price. Inventories can be: materials, work in process, finished goods and merchandise. *Imports and exports of goods and services consist of transactions of goods (purchase / sale, exchange or gift) between resident and non-resident units. Imports and exports of goods and services do not include: - Delivery of non-resident (foreign) representative offices of resident companies perform non-residents and delivery of resident representative offices of non-resident enterprises pots residents, - flows of primary income to abroad or from abroad (such as compensation of employees, interest or income from direct investment) and - sale and purchase of non-produced assets (e.g. land or patents). External balance of goods and services is the balancing item (balance) account of goods and services abroad. It represents the value of exports of goods and services minus imports of goods and services sector abroad. When the external balance of goods and services in foreign accounts is positive, it means a deficit (deficit) of the national economy in goods and services trade with foreign countries and vice versa if it is negative, it means a lack of overseas and excess to the national economy.
3.5. Statistical unit:All economic units, legal units, natural persons and households within the production boundary defined methodologies SNA 2008 and ESA 2010
3.6. Statistical population:National Accounts combine data from multiple sources so that the concept of the statistical population cannot be applied in the context of national accounts.
3.7. Reference area:Montenegro
3.8. Time coverage:QGDP data by expenditure approach are available from the first quarter of 2006 at current prices, from first quarter of 2007 at previous year prices, at average prices of 2010 from first quarter of 2007 as well as sasonal adjusted data from first quarter of 2006. QGDP data by production approach are available from the first quarter of 2010 at current prices, from first quarter of 2011 at previous year prices and at average prices of 2010 from first quarter of 2010.
3.9. Base period:Corresponding quarter of previous year

                                                                                      4. Unit of measure                                                                        Top
The data are published in thousands euros and in %.

                                                                                     5. Reference period                                                                       Top
Quarter

                                                                                  6. Institutional mandate                                                                    Top
6.1. Legal acts and other
       agreements:
The Law on Official Statistics and Official Statistical System (Official Gazette of Montenegro No 18/12 and 47/19) defines provisions for collection, processing, and dissemination of data. The Law provides to the Statistical Office legal powers to collect and access the data necessary for the implementation of Programme and Annual Plan. The Law gives a priority to the use of administrative data and right of access to individual data that are a result of survey of other official statistical producers. As an annex to legal provisions, Statistical Office has signed several memoranda on cooperation with administrative data providers.
6.2. Data sharing:Signed agreement on cooperation with the official statistical producers: 1. Customs Administration 2. Tax Administration 3. Ministry of Finance 4. Central Bank of Montenegro 5. Trilateral agreement (MONSTAT, Ministry of Finance, and Central Bank of Montenegro) International institutions: 1. EUROSTAT 2. UN organizations 3. IMF 4. World Bank

                                                                                        7. Confidentiality                                                                          Top
7.1. Confidentiality - policy:Articles 53-60 of the Law on Official Statistics and Official Statistical System (Official Gazette of Montenegro No 18/12 and 47/19) provide a framework for protection, use, and transmission of confidential data. Statistical office has produced two comprehensive rulebooks that cover the procedures for individual data protection as well as keeping individual records. With purpose of the meeting legal framework on functioning of security system and statistical confidentiality there was adopted the Rulebook on Keeping Statistical Data by which Manner, Time, Technical Conditions and Organization of Statistical Data Storage to Prevent Their Destroying, Misappropriation, and Unauthorized Use is Regulated as well as the Rulebook on Contents and Manner of Keeping Records on Users of Individual Statistical Data by which contents and manner of keeping records on users of individual statistical data is regular. Pursuant to the Article 59, an access to the confidential data is limited to persons performing duties and tasks of official statistical producer and up to the stage the data are necessary for official statistical production. Persons that performs duties and tasks within official statistical producers must sign the statement on respecting the principle of confidentiality. Law on Official Statistics and Official Statistical System is aligned with the Regulation No 223/2009 and the Regulation (EU) 2015/759 from 29 April 2015 that also regulate confidentiality provisions. The Government of Montenegro adopted the Statement on Commitment of Confidence in Official Statistics (Commitment of Confidence).
7.2. Confidentiality - data
        treatment:
The treatment of data in respect of confidentiality is defined by the Law on Official Statistics and Official Statistical System, Articles 54-61 (Official Gazette of Montenegro No 18/12).

                                                                                        8. Release policy                                                                         Top
8.1. Release calendar:The Law on Official Statistics and Official Statistical System (Official Gazette of Montenegro No 18/12) stipulates that official statistical producers prepare, update, and publish Statistical Release Calendar. It is published on the website of Statistical Office not later than 20 December for the next year, for all official statistical producers that includes date of releasing statistical data. Any change in date of releasing in the Calendar is published in advance in accordance with the Procedure on Unplanned Revisions.
8.2. Release calendar - access:http://www.monstat.org/eng/page.php?id=12&pageid=12
8.3. User access:General aim of official statistical producer is to meet the needs of users, and to make an access to statistical data to users in an understandable manner, simultaneously and under the same conditions. Statistical Office is obliged to produce and disseminate official statistics in objective, transparent and professional manner, so that all users are equally treated.

                                                                            9. Frequency of dissemination                                                             Top
Quarterly

                                                                                  10. Accessibility and clarity                                                                Top
10.1. News release:Press release of the Quarterly gross domestic product of Montenegro, link: https://www.monstat.org/eng/page.php?id=1576&pageid=17
10.2. Publications:Statistical Office publishes the following regular publications: 1. Statistical Yearbook, 2. Montenegro in figures, 3. Monthly statistical review. In addition to the above regular ones, Statistical Office publishes also additionally publications. Some of the most important additional publications are as it follows: 1. Women and Men in Montenegro, 2. The most often used statistical data All publication published by Statistical Office are available at the following link: http://monstat.org/eng/publikacije.php
10.3. Online database:Releases on QGDP are present at the website of MONSTAT, part National accounts. In part Data, in form of Excel tables there are QGDP data. In addition, on website of MONSTAT-a it is available online database, link: http://monstat.org/eng/pxweb.php
10.4. Micro-data access:The Law on Official Statistics and Official Statistical System (Official Gazette of Montenegro No 18/12) regulates rules under which external users can obtain an access to individual data for needs of research. Article 58 defines types of scientific and research organizations that can obtain such data. Providing individual data without identifier is possible only upon a written request of scientific and research institutions, with purpose of performing scientific and research activities as well as international statistical organizations and statistical producers from other countries. Research entity signs the agreement with Statistical Office, and it signs the statement on respecting the confidentiality principle. Official statistical producers keeps a separate records on users and purpose of using the statistical data given to these users.
10.5. Other:It is possible to find on the link data, methodology, releases, publications: http://www.monstat.org/eng/page.php?id=19&pageid=19. Dissemination of data in the frame of enhanced General Data Dissemination Standard which is established by IMF (eGDDS), link: http://www.monstat.org/NSDP/National%20Summary%20Data%20Page%20(NSDP).htm

10.6. Documentation on methodology:
          domain:
International prescribed methodology for calculation of national accounts is the System of National Accounts 2008 (SNA 2008), which provides a detailed theoretical framework, while for the countries of the European Union methodology prescribed by the European System of National Accounts (ESA 2010) which is fully consistent with the SNA 2008 and adapted to the European environment and practices. The legal obligation of each EU Member States to respect the ESA 2010 in their statistical practices. Handbook on price and volume measures in national accounts 2001, and Handbook on quarterly national accounts.
10.7. Quality documentation:The Law on Official Statistics and the Official Statistical System (Official Gazette of Montenegro No. 18/12 and 47/19) defines the commitment to quality, which ensures that producers of official statistics in Montenegro work and cooperate in accordance with international principles of quality of the statistical system. Development Strategy and Programme of Official Statistics for 2019-2023 define the objectives of development. One of objectives is quality management via monitoring the implementation of European Statistical Code of Practice. In accordance with the ESS Quality Declaration, Article 338 of the Treaty on the Functioning of the EU, Regulations 759/2015 and 223/2009 and the European Statistics Code of Practice, the following documents are adopted: 1. Quality Strategy of the Statistical Office 2. Guide for the implementation of the Quality Strategy in the Statistical Office; 3. Implementation plan

                                                                                  11. Quality management                                                                 Top
11.1. Quality assurance:Statistical Office has chosen the implementation of elements of TQM (Total Quality Management) model that foster development and improvement of functioning of: - Institution, - Official statistical result production, and - Individual. Within middle-term deadline, Statistical Office has chosen the TQM implementation through the following objectives: 1. Strong commitment to users and other interested parties, 2. Quality statistical processes and products, 3. Professional orientation of staff members, 4. Constant improvements, 5. Reduction of overburden of reporting units.
11.2. Quality assesment:Not available

                                                                                        12. Relevance                                                                              Top
12.1. User needs:International users: - Eurostat, - World Bank, - UN organizations, - International Monetary Fund National users: - Ministries and other public administration bodies, -Local government, and -Other local government bodies. - Central bank, - Non-governmental organizations, - Students, -Researchers, - Media.
12.2. User satisfaction:The Statistical Office has adopted the Quality Management Strategy, the Guidebook to the Implementation of the Quality Management Strategy, as well as the Plan for the Implementation of the Quality Policy. In order to measure the degree to which fulfills obligations towards users and within the new quality policy, the Statistical Office conducted User satisfaction survey. The results of the survey are available on the Statistical Office website, link: http://monstat.org/uploads/files/2.%20Izvjestaj%20o%20zadovoljstvu%20korisnika%20ENG%20(Autosaved).pdf
12.3. Completeness:Quarterly national accounts provide a basic view of the macroeconomic aggregates - Gross domestic product obtained by applying production and process methods. Gross domestic product by income approach are not available.

                                                                                  13. Accuracy and reliability                                                              Top
13.1. Overall accuracy:The compilation of national accounts is a complex task that involves many different data sources and therefore it is not possible to provide simple measures of accuracy estimate.
13.2. Sampling error:Not applicable
13.3. Non-sampling error:Not applicable

                                                                              14. Timeliness and punctuality                                                          Top
14.1. Timeliness:Data are published in accordance with the Annual Plan of Statistical Surveys and Calendar of Statistical Data, 76 days after the end of the reference period.
14.2. Punctuality:Not applicable

                                                                                      15. Coherence and Comparability                                                                          Top
15.1. Comparability -
          geographical:
Data are comparable with NSA data of other countries because the same methodology is used.
15.2. Comparability over time:Data are available and comparable with other countries data from first quarter of 2006 onwards, in current prices, and from the first quarter of 2007 onwards, in constant prices.

15.3. Coherence - cross
          domain:
Data of quarterly GDP are adjusted with annual GDP data, at a time when annual data become final and available.
15.4. Coherence - internal:The quality of data is provided by applying the concepts, definitions and classifications which are harmonized with the System of National Accounts (SNA 2008) and the European System of National Accounts (ESA 2010).

                                                                                        17. Data revision                                                                          Top
17.1. Data revision - policy:Statistical Office has adopted the revision policy and it is available on the website http://www.monstat.org/eng/page.php?id=1411&pageid=1411
17.2. Data revision - practice:After the publication of annual gross domestic product, quarterly GDP data are benchmarked to the annual data with aim to gain internal consinstency.

                                                                                 18. Statistical processing                                                                 Top
18.1. Source data:Data from data sources usually are short-term and as such may change during time. Having in mind that QGDP are calculated only once and published as preliminary results, and revised only once within publishing final annual estimates.
18.2. Frequency of data
          collection:
Quarterly data are collected twice. The first collection is after ending refference period for estimation of preliminary QGDP and second one is 9 months after neding refference year and compiling GDP annual.
18.3. Data collection:Statistical surveys, administrative data and enterprises data. Data are collected in electronic format, via data requests and in paper.
18.6. Adjustment:Adjustment of data is done, if necessary, in cases where the concepts and definitions of data collected from various data sources differ from concepts and definitions used in the system of national accounts.

 

                                                                                           19. Comment                                                                             Top
None
.