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.