Category: Economic statistics
Area: National accounts
Survey / data collection: Annual 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: Annual National Accounts Statistics Department
1.2. Contact organization unit: IV Proleterske br. 2 , 81000 Podgorica Montenegro

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

                                                                                3. Statistical presentation                                                                  Top
3.1. Data description:National Accounts are compiled of a series of macroeconomic indicators, which provide a comprehensive picture of the economic situation and serve as a basis for economic analysis, forecasting and decision-making. The main aggregate of national accounts is Gross domestic product, which is calculated on annual and quarterly basis. The methodology used is consistent with the System of National Accounts (SNA 2008) and the European System of National Accounts (ESA 2010). Gross domestic product (GDP) measures the total value of goods or services produced by resident institutional units. MONSTAT carries out the calculation of GDP by production and expenditure approach and estimations are independent. The estimation of GDP includes all activities within the production boundary defined by SNA 2008 and ESA 2010 methodologies and covers the entire territory of Montenegro. The results of the estimation are valued at current and constant prices (previous year prices and in average prices of 2010). The basic categories of calculation of GDP by production approach are: 1. Gross output is defined as the market value of all goods and services produced at the level of the national economy. 2. Intermediate consumption at purchases prices is the value of products and services that are transformed, used or consumed in the production process. 3. Gross value added represents the difference between gross output and intermediate consumption. GDP at market prices expresses the value of all goods and services of resident units, i.e. the sum of Gross Value Added by activities and taxes on products less subsidies on products. The basic categories of calculated GDP by expenditure approach are: 1. Household final consumption expenditure classified by the COICOP classification (the fourth level). For the calculation of personal consumption of households Commodity flows method is applied (Commodity flow approach), which represents the balance of all flows of goods and services produced and imported on the one hand and used and exported to the other side. 2. Government consumption can be individual and collective. Individual spending includes expenditures for education, health, social welfare, sport, culture, and recreation. Other expenses of the state are collective consumption (general public services, military and civil defense with ministry, residential and public utilities, etc.). 3. Gross investments in fixed assets. 4. Export and import of goods and services.
3.2. Classification system:KD 1999 (Nace Rev.1.), KD 2010 (NACE Rev. 2.), COFOG, COICOP, CPA, CN, HS
3.3. Sector coverage:All sectors defined by Classification of activity 2010 are covered except sector U: Activities of extraterritorial organisations and bodies and households.
3.4. Statistical concepts and
Gross domestic product (GDP) measures the total income and total expenditure of the economy. It represents the market value of all final goods and services produced within a country in a given time interval. This interval is usually one year or a quarter (three months). GDP at market prices is the final result of the production activity of resident production units and can be calculated in 3 ways: -Production approach, -Expenditure approach, and -Income approach. Monstat calculates GDP by 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 are expenses (including imputed expenditures) of 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 are 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, defence, security, protection of 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 are measured by the total amount of the producer acquisition net of disposition of new or used fixed assets during the accounting period. -Net investments in fixed assets are 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 the end of the year, valued at the average market prices. 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: - Deliveries of non-resident (foreign) representative offices of resident companies perform to non-residents and deliveries of resident representative offices of non-resident enterprises performs to 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 (eg land or patents). External balance of goods and services is the balancing item (balance) of goods and services foreign account. It represents the value of exports of goods and services minus imports of goods and services of rest of the world sector. When the external balance of goods and services in foreign accounts is positive, it means a deficit (deficit) of the national economy in trade of goods and services with foreign countries and vice versa if it is negative, it means a lack for overseas and excess to the national economy.
3.5. Statistical unit:Statistical units are enterprises, enterprineurs and households.
3.6. Statistical population:National Accounts combine data from multiple sources so that the concept of the statistical population can not be applied in the context of national accounts.
3.7. Reference area:Montenegro
3.8. Time coverage:Annual GDP data are available since 2000.
3.9. Base period:Previous year

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

                                                                                     5. Reference period                                                                       Top
Calendar year

                                                                                  6. Institutional mandate                                                                    Top
6.1. Legal acts and other
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
In accordance with the Law on Official Statistics and Official Statistical System, Chapter XIII, confidentiality and protection of data necessary for official statistics, Articles from 54 to 61, is defined by the legislative procedure relating to the confidentiality of data.

                                                                                        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:
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

                                                                                  10. Accessibility and clarity                                                                Top
10.1. News release:Release of the Gross Domestic Product of Montenegro.
10.2. Publications:Statistical Office publishes the following regular publications: 1. Monthly Statistical Review, 2. Statistical Yearbook, 3. Montenegro in Numbers, 4. Annual Statistics of Transport, Storage and Connections, 5. Number and Structure of Business Entities. 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. Children in Montenegro, 3. The most often used statistical data. All publication published by Statistixal Office are available at the following link:
10.3. Online database:Releases on GDP are present at the website of MONSTAT, part National accounts. In part Data, in form of Excel tables there are GDP from 2006. In addition, on website of MONSTAT-a it is available online database, link:
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: Dissemination of data in the frame of enhanced General Data Dissemination Standard which is established by IMF (eGDDS), link:

10.6. Documentation on methodology:
International recommended methodology for the calculation of National Accounts is the System of National Accounts 2008 (SNA 2008), which provides a detailed theoretical framework, while for the EU countries the methodology is 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 is to respect the ESA 2010 in their statistical practices. Link:
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:The document 'GNI Inventory' serves as a basis for assessing the quality of the results.

                                                                                        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:
12.3. Completeness:Annual 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:Not relevant
13.2. Sampling error:Not relevant
13.3. Non-sampling error:Not relevant

                                                                              14. Timeliness and punctuality                                                          Top
14.1. Timeliness:Data are published in accordance with the Annual Plan of Statistical Survey and Statistical Release Calendar, end of september of current year for the previous year data.
14.2. Punctuality:Gross domestic product is calculated using data from the company's financial statements (balance sheet, income statement and statistical annex) which are submitted to the statistical office 6 months after the reference period and are complete in their content and considered accurate and reliable for calculation purposes. National accounts data are revised as soon as the source data are revised, new data sources become available or there are changes in methodological recommendations.

                                                                                      15. Coherence and Comparability                                                                          Top
15.1. Comparability -
By applying Regulation (EC) No 549/2013 which prescribes the application of ESA 2010 methodology geographical comparability of data between Montenegro and other countries is enabled.
15.2. Comparability over time:From 2000 to 2005, the data are available by the ESA 95 methodology according to the NACE Rev.1.1.clasification. From series 2006-2016, the data are available by ESA 2010 methodology according to the NACE Rev2 clasification.

15.3. Coherence - cross
In certain cases, data from other areas of economic statistics can be used to cross-check.
15.4. Coherence - internal:After publishing annual GDP data quarterly data are revised to be in line with annual data.

                                                                                        17. Data revision                                                                          Top
17.1. Data revision - policy:Statistical Office has adopted the revision policy and it is available on the website
17.2. Data revision - practice:Data from the national accounts are subject to constant routine revisions as soon as new data sources become available.

                                                                                 18. Statistical processing                                                                 Top
18.1. Source data:The main data source for the calculation of GDP are financial statements of companies, banks, insurance companies, government sector, local governments, social security founds, entrepreneurs and of the lump obtained from the above sources data. All the above sources represent an administrative data source. Data obtained from statistical surveys are also used.
18.2. Frequency of data
Data is collected once a year.
18.3. Data collection:National Accounts combine data from many sources. Techniques for data collection are different, depenting on the compilation method, available sources of information, timeliness of published data and other factors.
18.6. Adjustment:Not relevant.


                                                                                           19. Comment                                                                             Top