Albania's gross domestic product expanded 5.97 percent year-on-year in the first quarter of 2022, following a 5.5 percent gain in the previous period. Household consumption rose further (8.63 percent vs 5.84 percent in Q4). Also, net foreign demand contributed positively to the growth as exports surged 25.25 percent (vs 24.38 percent) while imports rose at a softer 17.62 percent (vs 32.77 percent). Meanwhile, gross fixed capital formation slowed (15.5 percent vs 16.95 percent) while government spending declined (-2.79 percent vs 6.84 percent). On a quarterly basis, the economy grew 1.56 percent. source: Instituti i Statistikave (INSTAT)

GDP Annual Growth Rate in Albania averaged 3.87 percent from 1996 until 2022, reaching an all time high of 18.38 percent in the second quarter of 2021 and a record low of -11.33 percent in the second quarter of 2020. This page provides the latest reported value for - Albania GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Albania GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

GDP Annual Growth Rate in Albania is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Albania GDP Annual Growth Rate is projected to trend around 4.00 percent in 2023, according to our econometric models.

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Albania GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-31 10:00 AM Q4 5.5% 6.8% 3%
2022-06-30 10:00 AM Q1 5.97% 5.5% 5.1%
2022-09-30 10:00 AM Q2


Related Last Previous Unit Reference
GDP Growth Rate 1.56 0.20 percent Mar 2022
GDP Annual Growth Rate 5.97 5.50 percent Mar 2022
GDP Constant Prices 409712.80 407694.00 ALL Million Dec 2021
Gross Fixed Capital Formation 134934.00 96785.00 ALL Million Dec 2021
GDP From Services 62561.19 61398.26 ALL Million Dec 2021
GDP From Public Administration 49240.14 49909.33 ALL Million Dec 2021
GDP From Mining 53378.18 54818.17 ALL Million Dec 2021
GDP From Manufacturing 29882.30 27860.04 ALL Million Dec 2021
GDP From Construction 44977.61 40071.64 ALL Million Dec 2021
GDP From Agriculture 68041.47 66933.06 ALL Million Dec 2021

Albania GDP Annual Growth Rate
In Albania, the most important component on the expenditure side of the GDP is household consumption (78 percent) followed by gross fixed capital formation (26 percent) and government expenditure (11 percent). Net exports of goods and services subtracts 18 percent from the GDP as exports accounts for 35 percent and imports for 53 percent.
Actual Previous Highest Lowest Dates Unit Frequency
5.97 5.50 18.38 -11.33 1996 - 2022 percent Quarterly
NSA

News Stream
Albania GDP Growth Rises to 5.97% in Q1
Albania's gross domestic product expanded 5.97 percent year-on-year in the first quarter of 2022, following a 5.5 percent gain in the previous period. Household consumption rose further (8.63 percent vs 5.84 percent in Q4). Also, net foreign demand contributed positively to the growth as exports surged 25.25 percent (vs 24.38 percent) while imports rose at a softer 17.62 percent (vs 32.77 percent). Meanwhile, gross fixed capital formation slowed (15.5 percent vs 16.95 percent) while government spending declined (-2.79 percent vs 6.84 percent). On a quarterly basis, the economy grew 1.56 percent.
2022-06-30
Albania GDP Growth Eases to 6.99% in Q3
Albania's gross domestic product expanded 6.99 percent year-on-year in the third quarter of 2021, easing from an upwardly revised 18.38 percent rise in the previous period. There was a slowdown in all sectors: household consumption (3.33 percent vs 10.91 percent in Q2 of 2021), gross fixed capital formation (3.84 percent vs 36.84 percent) and government expenditure (7.59 percent vs 11.33 percent). Meanwhile, foreign demand contributed positively to growth as exports went up 62.73 percent (vs 130.55 percent in Q2) while imports rose at a softer 35.87 percent (vs 53.72 percent). On a quarterly basis, the economy expanded by 0.73 percent.
2021-12-23
Albania GDP Annual Growth at Record High
Albania's gross domestic product expanded 17.9 percent year-on-year in the second quarter of 2021, following a 5.5% rise in the previous period. It was the highest growth rate ever as the economy rebounded sharply from a record fall a year earlier due to the Covid crisis.. All economic branches had a positive contribution to this historical growth rate as gross fixed capital formation jumped 35.8 percent, government expenditure rose 11 percent, and household consumption increased 9.8 percent. Meantime, foreign demand contributed positively to growth as exports surged 130.6 percent while imports went up 53.6 percent. On a quarterly basis, the economy expanded by 2.1 percent.
2021-09-30