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. GDP Annual Growth Rate in Albania averaged 4.10 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 3.90 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 3.60 in 12 months time. In the long-term, the Albania GDP Annual Growth Rate is projected to trend around 3.80 percent in 2020, according to our econometric models.