Albania's gross domestic product contracted 1.16 percent on quarter in the three months to June of 2022. Declines were recorded for construction (-5.99 percent), information and communication (-3.38 percent), and arts, entertainment and recreation services, other services (-0.16 percent). On the other hand, increases were seen for agriculture, forestry and fishing activity (0.28 percent); industry, electricity and water (6.74 percent); trade, transport, accommodation and food services (2.34 percent); financial and insurance (2.25 percent); real estate (2.31 percent); professional services and administrative services (0.09 percent); and public administration, education and health (0.54 percent). source: Instituti i Statistikave (INSTAT)
GDP Growth Rate in Albania averaged 0.80 percent from 2005 until 2022, reaching an all time high of 11.16 percent in the third quarter of 2020 and a record low of -8.35 percent in the second quarter of 2020. This page provides - Albania GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Albania GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.
GDP Growth Rate in Albania is expected to be -0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Albania GDP Growth Rate is projected to trend around 0.30 percent in 2023 and 0.40 percent in 2024, according to our econometric models.