Albania - Pato la Taifa mwaka Kiwango cha Ukuaji

Albania’s GDP expanded 2.3 percent year-on-year in the second quarter of 2019, easing from an upwardly revised 2.4 percent advance in the previous period. It was the lowest growth rate since the last quarter of 2015. Main contribution to growth came mainly from trade, transport, accommodation and food services; public administration, education and health; agriculture, forestry and fishing; and real estate activity. On the other hand, output shrank for industry, electricity and water; construction and arts, entertainment and recreation services, other services. On a seasonally adjusted quarterly basis, the economy advanced 0.68 percent, faster than a 0.56 percent rise in Q1.

Albania’s gross domestic product expanded 2.2 percent year-on-year in the first quarter of 2019, easing from an upwardly revised 3.3 percent advance in the previous period. It was the softest pace of expansion since the second quarter of 2015. Main contribution to growth came from trade, transport, accommodation and food services; real estate activity; construction; public administration, education and health; professional and administrative services; agriculture, forestry and fishing; information and communication and financial and insurance services. On the other hand, output shrank for industry, electricity and water and arts, entertainment and recreation services.

The economy of Albania advanced 3.1 percent year-on-year in the last three months of 2018, following an upwardly revised 4.7 percent growth in the previous quarter. It is the lowest expansion since the third quarter of 2016, mainly due to slowdowns in industry (9.9 percent compared to 12.6 percent in Q3); wholesale and retail trade (3.4 percent compared to 6.9 percent); construction (2.5 percent compared to 6.2 percent); real estate activities (0.1 percent compared to 2.6 percent); and agriculture (0.7 percent compared to 1.8 percent). On a quarterly basis, the GDP advanced 0.6 percent. Considering full 2018, the economy grew 4.1 percent, above 3.8 percent in 2017.