The economy of Albania advanced 3.8 percent year-on-year in the third quarter of 2019, following 2.5 percent expansion in the previous period. It was the strongest growth since the third quarter of 2018, as household consumption expanded at a faster pace (3.9 percent vs 2.9 percent in Q2). Meanwhile, government spending slowed (2.1 percent vs 4.4 percent) while gross fixed capital formation decreased further (-1.9 percent vs -0.8 percent). Regarding net trade, exports jumped 10.1 percent (vs 3.2 percent in Q2) while imports advanced 3.6 percent (vs 6.0 percent in Q2). On a quarterly basis, the GDP expanded 1.7 percent. GDP Annual Growth Rate in Albania averaged 4.05 percent from 1996 until 2019, reaching an all time high of 13.50 percent in the fourth quarter of 1999 and a record low of -10.84 percent in the fourth quarter of 1997.

GDP Annual Growth Rate in Albania is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Albania to stand at 3.20 in 12 months time. In the long-term, the Albania GDP Annual Growth Rate is projected to trend around 3.80 percent in 2020, according to our econometric models.

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Albania GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.81 2.48 13.50 -10.84 1996 - 2019 percent Quarterly
NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-03-29 11:00 AM Q4 3.1% 4.7% 2.7%
2019-07-01 02:20 PM Q1 2.2% 3.3% 3.6%
2019-09-30 10:35 AM Q2 2.3% 2.4% 2.9%
2019-12-24 11:00 AM Q3 3.8% 2.5% 2%
2020-03-27 11:00 AM Q4 3.8% 2.3000
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
2019-09-30
Albania GDP Growth Slows to 3-1/2-Year Low of 2.3%
Albania’s GDP expanded 2.3 percent year-on-year in the second quarter of 2019, easing from an upwardly revised 2.4 percent advance in the previous period. It was the lowest growth rate since the last quarter of 2015. Main contribution to growth came mainly from trade, transport, accommodation and food services; public administration, education and health; agriculture, forestry and fishing; and real estate activity. On the other hand, output shrank for industry, electricity and water; construction and arts, entertainment and recreation services, other services. On a seasonally adjusted quarterly basis, the economy advanced 0.68 percent, faster than a 0.56 percent rise in Q1.

2019-07-01
Albania Q1 GDP Growth Slows to Over 3-1/2-Year Low
Albania’s gross domestic product expanded 2.2 percent year-on-year in the first quarter of 2019, easing from an upwardly revised 3.3 percent advance in the previous period. It was the softest pace of expansion since the second quarter of 2015. Main contribution to growth came from trade, transport, accommodation and food services; real estate activity; construction; public administration, education and health; professional and administrative services; agriculture, forestry and fishing; information and communication and financial and insurance services. On the other hand, output shrank for industry, electricity and water and arts, entertainment and recreation services.

2019-03-29
Albania GDP Growth Lowest in Over 2 Years
The economy of Albania advanced 3.1 percent year-on-year in the last three months of 2018, following an upwardly revised 4.7 percent growth in the previous quarter. It is the lowest expansion since the third quarter of 2016, mainly due to slowdowns in industry (9.9 percent compared to 12.6 percent in Q3); wholesale and retail trade (3.4 percent compared to 6.9 percent); construction (2.5 percent compared to 6.2 percent); real estate activities (0.1 percent compared to 2.6 percent); and agriculture (0.7 percent compared to 1.8 percent). On a quarterly basis, the GDP advanced 0.6 percent. Considering full 2018, the economy grew 4.1 percent, above 3.8 percent in 2017.


Albania GDP Annual Growth Rate
In Albania, the most important component on the expenditure side of the GDP is household consumption (78 percent) followed by gross fixed capital formation (26 percent) and government expenditure (11 percent). Net exports of goods and services subtracts 18 percent from the GDP as exports accounts for 35 percent and imports for 53 percent.

Albania GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.70 0.68 6.00 -2.00 percent [+]
GDP Annual Growth Rate 3.81 2.48 13.50 -10.84 percent [+]
GDP 15.06 13.03 15.06 0.65 USD Billion [+]
GDP Constant Prices 394099.20 387497.20 394099.20 171020.40 ALL Million [+]
Gross Fixed Capital Formation 90933.00 72486.00 374058.00 61618.00 ALL Million [+]
GDP per capita 5075.40 4867.90 5075.40 1243.60 USD [+]
GDP per capita PPP 12306.30 11803.30 12306.30 3015.40 USD [+]
GDP From Agriculture 66963.40 67873.99 67873.99 50319.00 ALL Million [+]
GDP From Construction 35622.63 35238.50 45498.00 28028.00 ALL Million [+]
GDP From Manufacturing 25392.67 26059.49 26059.49 14554.00 ALL Million [+]
GDP From Mining 49408.12 52228.71 57686.00 28367.00 ALL Million [+]
GDP From Public Administration 45605.66 44067.76 45605.66 26314.00 ALL Million [+]
GDP From Services 64044.95 62838.58 64044.95 48198.00 ALL Million [+]