Albania’s gross domestic product expanded 2.2 percent year-on-year in the first quarter of 2019, easing from an upwardly revised 3.3 percent advance in the previous period. It was the softest pace of expansion since the second quarter of 2015. Main contribution to growth came from trade, transport, accommodation and food services; real estate activity; construction; public administration, education and health; professional and administrative services; agriculture, forestry and fishing; information and communication and financial and insurance services. On the other hand, output shrank for industry, electricity and water and arts, entertainment and recreation services. GDP Annual Growth Rate in Albania averaged 4.07 percent from 1996 until 2019, 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 3.50 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.