Albania’s GDP contracted 0.2 percent year-on-year in the fourth quarter 2019, after an upwardly revised 4.2 percent expansion in the previous period. It was the first decline in annual GDP since the last quarter of 2014. On a quarterly basis, the economy also shrank 0.2 percent. Considering full 2019, the GDP advanced 2.2 percent, slowing from a 4.1 percent expansion in 2018.
GDP Annual Growth Rate in Albania averaged 3.99 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. This page provides the latest reported value for - Albania GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Albania GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020.
GDP Annual Growth Rate in Albania is expected to be -3.50 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 2.50 in 12 months time. In the long-term, the Albania GDP Annual Growth Rate is projected to trend around 3.20 percent in 2021 and 3.80 percent in 2022, according to our econometric models.