The Gross Domestic Product (GDP) in Albania expanded 0.56 percent in the first quarter of 2019 over the previous quarter. GDP Growth Rate in Albania averaged 0.90 percent from 2005 until 2019, reaching an all time high of 6 percent in the second quarter of 2005 and a record low of -2 percent in the first quarter of 2005.

GDP Growth Rate in Albania is expected to be 0.70 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 0.50 in 12 months time. In the long-term, the Albania GDP Growth Rate is projected to trend around 0.50 percent in 2020, according to our econometric models.

Albania GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-26 09:30 AM GDP Growth Rate QoQ Q2 1.34% 1.15% 0.4%
2018-12-28 11:00 AM GDP Growth Rate QoQ Q3 1.09% 1.03% 0.4%
2019-03-29 11:00 AM GDP Growth Rate QoQ Q4 0.57% 0.9% 0.5%
2019-07-01 02:20 PM GDP Growth Rate QoQ Q1 0.56% 0.57% 0.9%
2019-09-30 10:00 AM GDP Growth Rate QoQ Q2 0.56% 1%
2019-12-24 11:00 AM GDP Growth Rate QoQ Q3 0.7%


Albania GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.56 0.60 6.00 -2.00 percent [+]
GDP Annual Growth Rate 2.21 3.32 13.50 -10.84 percent [+]
GDP 15.06 13.03 15.06 0.65 USD Billion [+]
GDP Constant Prices 383435.30 382509.60 383435.30 171020.40 ALL Million [+]
Gross Fixed Capital Formation 72373.00 118500.00 374058.00 61618.00 ALL Million [+]
GDP per capita 5075.40 4867.90 5075.40 1243.60 USD [+]
GDP per capita PPP 12306.30 11803.30 12306.30 3015.40 USD [+]
GDP From Agriculture 66938.96 66582.37 66938.96 50319.00 ALL Million [+]
GDP From Construction 36085.42 35480.86 45498.00 28028.00 ALL Million [+]
GDP From Manufacturing 25275.27 25406.64 25525.00 14554.00 ALL Million [+]
GDP From Mining 46653.17 51367.43 57686.00 28367.00 ALL Million [+]
GDP From Public Administration 43625.25 43937.86 43937.86 26314.00 ALL Million [+]
GDP From Services 60924.05 60163.77 60924.05 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 September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.56 0.60 6.00 -2.00 2005 - 2019 percent Quarterly
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Country Last Previous
Indonesia 4.20 Jun/19
South Africa 3.10 Jun/19
United States 2.00 Jun/19
China 1.60 Jun/19
Turkey 1.20 Jun/19
India 1.00 Jun/19
South Korea 1.00 Jun/19
Canada 0.90 Jun/19
Australia 0.50 Jun/19
Netherlands 0.50 Jun/19
Spain 0.50 Jun/19
Brazil 0.40 Jun/19
France 0.30 Jun/19
Japan 0.30 Jun/19
Switzerland 0.30 Jun/19
Euro Area 0.20 Jun/19
Italy 0.00 Jun/19
Mexico 0.00 Jun/19
Saudi Arabia 0.00 Mar/19
Germany -0.10 Jun/19
United Kingdom -0.20 Jun/19
Argentina -0.30 Jun/19
Russia -0.40 Mar/19
Singapore -3.30 Jun/19


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