Albania's gross domestic product expanded 5.5 percent year-on-year in the first quarter of 2021, following a downwardly revised 2.4% rise in the previous period. Both government expenditure (5.2 percent vs 4.5 percent) and gross fixes capital formation (21.1 percent vs 10.5 percent) accelerated while household consumption slowed (1.5 percent vs 1.9 percent). Meantime, foreign demand contributed negatively to growth as exports went up 0.7 percent (vs -12 percent in Q4) while imports rose 7.6 percent (vs -10.6 percent in Q4). On a quarterly basis, the economy expanded by 2.3 percent. source: Instituti i Statistikave (INSTAT)
GDP Annual Growth Rate in Albania averaged 3.58 percent from 1996 until 2021, reaching an all time high of 13.50 percent in the fourth quarter of 1999 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 2021.
GDP Annual Growth Rate in Albania is expected to be 12.00 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 5.00 percent in 2022, according to our econometric models.