Albania's gross domestic product expanded 5.97 percent year-on-year in the first quarter of 2022, following a 5.5 percent gain in the previous period. Household consumption rose further (8.63 percent vs 5.84 percent in Q4). Also, net foreign demand contributed positively to the growth as exports surged 25.25 percent (vs 24.38 percent) while imports rose at a softer 17.62 percent (vs 32.77 percent). Meanwhile, gross fixed capital formation slowed (15.5 percent vs 16.95 percent) while government spending declined (-2.79 percent vs 6.84 percent). On a quarterly basis, the economy grew 1.56 percent. source: Instituti i Statistikave (INSTAT)
GDP Annual Growth Rate in Albania averaged 3.87 percent from 1996 until 2022, reaching an all time high of 18.38 percent in the second quarter of 2021 and a record low of -11.33 percent in the second quarter of 2020. 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 August of 2022.
GDP Annual Growth Rate in Albania is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Albania GDP Annual Growth Rate is projected to trend around 4.00 percent in 2023, according to our econometric models.