Albania's gross domestic product rebounded by 3 percent year-on-year in the fourth quarter of 2020, following a downwardly revised contraction of 2.8% percent in the previous period, due to increases in both private consumption (1.60 percent vs -3.40 percent in Q3) and public spending (3.88 percent vs -1.41 percent). In addition, fixed investment rose at a faster pace (10.86 percent vs 5.85 percent) while net foreign demand contributed negatively to growth as exports declined 12.77 percent (vs -31.78 percent in Q3) while imports fell at a softer 9.92 percent (vs -23.91 percent). On a quarterly basis, the economy expanded by 1.15 percent. source: Instituti i Statistikave (INSTAT)
GDP Annual Growth Rate in Albania averaged 3.68 percent from 1996 until 2020, 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 2021.
GDP Annual Growth Rate in Albania is expected to be 3.20 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 3.80 in 12 months time. In the long-term, the Albania GDP Annual Growth Rate is projected to trend around 5.00 percent in 2022, according to our econometric models.