The economy of Albania grew by 4.02 percent year-on-year in the third quarter of 2022, following a 2.23 percent expansion in the previous quarter. source: Instituti i Statistikave (INSTAT)

GDP Annual Growth Rate in Albania averaged 3.85 percent from 1996 until 2022, reaching an all time high of 17.63 percent in the second quarter of 2021 and a record low of -11.11 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 February of 2023.

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.

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Albania GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-09-30 10:00 AM Q2 2.23% 6.5% 2.1%
2022-12-23 11:00 AM Q3 4% 2.23% 1.9%
2023-03-30 09:00 AM Q4 4% 5%


Related Last Previous Unit Reference
GDP Growth Rate 2.30 -0.60 percent Sep 2022
GDP Annual Growth Rate 4.02 2.65 percent Sep 2022
GDP Constant Prices 424341.70 414674.70 ALL Million Sep 2022
Gross Fixed Capital Formation 103672.00 109759.00 ALL Million Sep 2022
GDP from Services 69024.97 67333.44 ALL Million Sep 2022
GDP from Public Administration 47503.66 47487.77 ALL Million Sep 2022
GDP from Mining 50979.55 56771.56 ALL Million Sep 2022
GDP from Manufacturing 29336.37 31309.20 ALL Million Sep 2022
GDP from Construction 45551.55 43149.81 ALL Million Sep 2022
GDP from Agriculture 67795.75 67835.87 ALL Million Sep 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
4.02 2.65 17.63 -11.11 1996 - 2022 percent Quarterly
NSA

News Stream
Albania GDP Grows the Least in 7 Quarters
Albania's gross domestic product expanded 2.23 percent year-on-year in the second quarter of 2022, easing from an upwardly revised 6.5 percent advance in the previous period. It was the softest pace of expansion since the country returned to growth in the last quarter of 2020. Household consumption slowed (6.5 percent vs 7 percent in Q1) while government expenditure (-8.5 percent vs -5 percent) and gross fixed capital formation (-6.7 percent vs 16.6 percent) fell. Also, foreign demand contributed negatively to growth, as exports rose 9.1 percent (vs 25.6 percent in Q1) while imports jumped at a faster 17.6 percent (vs 17.7 percent in Q1). On a quarterly basis, the economy contracted 1.16 percent.
2022-09-30
Albania GDP Growth Rises to 5.97% in Q1
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.
2022-06-30