Albania's gross domestic product expanded by 1.34 percent on quarter in the three month to June of 2018, up from a 1.15 percent advance in the previous period. It was the highest growth rate since the first quarter of 2017. GDP Growth Rate in Albania averaged 0.85 percent from 2005 until 2018, reaching an all time high of 6 percent in the second quarter of 2005 and a record low of -4.69 percent in the second quarter of 2011.

GDP Growth Rate in Albania is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Albania to stand at 0.70 in 12 months time. In the long-term, the Albania GDP Growth Rate is projected to trend around 0.40 percent in 2020, according to our econometric models.

Albania GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-04-03 10:00 AM GDP Growth Rate QoQ 0.65% 0.38% 0.7%
2018-06-29 10:00 AM GDP Growth Rate QoQ 1.15% 0.65% 0.4%
2018-09-26 09:30 AM GDP Growth Rate QoQ 1.34% 1.15% 0.4%
2018-12-28 11:00 AM GDP Growth Rate QoQ 1.34% 0.4%


Albania GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.34 1.15 6.00 -4.69 percent [+]
GDP Annual Growth Rate 4.32 4.46 13.50 -10.84 percent [+]
GDP 13.04 11.88 13.22 0.71 USD Billion [+]
GDP Constant Prices 377940.00 372942.93 377940.00 171020.40 ALL Million [+]
Gross Fixed Capital Formation 93772.00 71847.00 374058.00 61632.00 ALL Million [+]
GDP per capita 4868.20 4683.80 4868.20 1288.26 USD [+]
GDP per capita PPP 11803.40 11356.30 11803.40 3123.50 USD [+]
GDP From Agriculture 66779.00 66148.00 66779.00 50319.00 ALL Million [+]
GDP From Construction 35261.00 35693.00 45498.00 28028.00 ALL Million [+]
GDP From Manufacturing 25525.00 24552.00 25525.00 14554.00 ALL Million [+]
GDP From Mining 57686.00 53272.00 57686.00 28367.00 ALL Million [+]
GDP From Public Administration 41384.00 41518.00 42109.00 26314.00 ALL Million [+]
GDP From Services 59719.00 58045.00 59719.00 48198.00 ALL Million [+]


Albania GDP Growth Rate

Albania’s most important sector is services (60 percent of GDP) with banking, communications and tourism driving the growth. The manufacturing industry accounts for 20 percent of GDP. The remaining 20 percent goes to agriculture which is dominated by small family owned operations and employs almost half of the labour force. Remittances also have a big importance for the economy and account for around 8 percent of GDP. On the expenditure side, household consumption is the main component of GDP and accounts for 78 percent of its total use, followed by gross fixed capital formation (26 percent) and government expenditure (11 percent, as collective expenditure accounts for 6 percent and individual expenditure accounts for 5 percent). By contrast, net exports of goods and services contributes negatively accounting for -18 percent of total GDP, as exports accounts for 35 percent while imports accounts for a much higher 53 percent. This page provides - Albania GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Albania GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
1.34 1.15 6.00 -4.69 2005 - 2018 percent Quarterly
SA




Country Last
Singapore 4.70 Sep/18
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Australia 0.90 Jun/18
Mexico 0.90 Sep/18
Russia 0.90 Jun/18
Turkey 0.90 Jun/18
Canada 0.70 Jun/18
Switzerland 0.70 Jun/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
France 0.40 Sep/18
Brazil 0.20 Jun/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Italy 0.00 Sep/18
Saudi Arabia -0.05 Mar/18
Germany -0.20 Sep/18
Japan -0.30 Sep/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


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