The Gross Domestic Product (GDP) in Albania expanded 1.70 percent in the third quarter of 2019 over the previous quarter. GDP Growth Rate in Albania averaged 0.91 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 0.60 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.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Albania GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.70 0.68 6.00 -2.00 2005 - 2019 percent Quarterly
SA



Calendar GMT Actual Previous Consensus TEForecast
2019-03-29 11:00 AM Q4 0.57% 0.9% 0.5%
2019-07-01 02:20 PM Q1 0.56% 0.57% 0.9%
2019-09-30 10:35 AM Q2 0.68% 0.56% 1%
2019-12-24 11:00 AM Q3 1.7% 0.68% 0.7%
2020-03-27 11:00 AM Q4 1.7% 0.6%


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.

Albania GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.70 0.68 6.00 -2.00 percent [+]
GDP Annual Growth Rate 3.81 2.48 13.50 -10.84 percent [+]
GDP 15.06 13.03 15.06 0.65 USD Billion [+]
GDP Constant Prices 394099.20 387497.20 394099.20 171020.40 ALL Million [+]
Gross Fixed Capital Formation 90933.00 72486.00 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 66963.40 67873.99 67873.99 50319.00 ALL Million [+]
GDP From Construction 35622.63 35238.50 45498.00 28028.00 ALL Million [+]
GDP From Manufacturing 25392.67 26059.49 26059.49 14554.00 ALL Million [+]
GDP From Mining 49408.12 52228.71 57686.00 28367.00 ALL Million [+]
GDP From Public Administration 45605.66 44067.76 45605.66 26314.00 ALL Million [+]
GDP From Services 64044.95 62838.58 64044.95 48198.00 ALL Million [+]