Albania’s economy expanded by 4.32 percent year-on-year in the second quarter of 2018, after an upwardly revised 4.46 percent growth in the previous period. Output slowed for fixed investment (1.48 percent from 4.5 percent in Q1) and production fell for government spending (-3.43 percent from 2.47 percent). On the other hand, output advanced faster for household consumption (3.35 percent from 2.98 percent). Meanwhile, net trade contributed positively to growth, as exports rose 3.89 percent (4.99 percent in Q1) and imports went up at a softer 2.01 percent (8.2 percent in Q1). On a seasonally adjusted quarterly basis, gross domestic product went up 1.34 percent, following a 1.15 percent gain in the first quarter. GDP Annual Growth Rate in Albania averaged 4.11 percent from 1996 until 2018, 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.
GDP Annual Growth Rate in Albania is expected to be 2.70 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 3.70 percent in 2020, according to our econometric models.