Albania's economic growth eases to 1.6% y/y in Q1 2014

By bne IntelliNews July 8, 2014

Albania’s economy expanded by 1.6% y/y in non-adjusted terms in the fist quarter of 2014, easing from a 2.2% annual increase in the previous quarter, the state statistical institute, INSTAT, informed. In quarterly comparison, the growth rate also slowed down to 0.2% q/q in Q1 from 0.7% q/q in Q4 2013.

Most of the economic sectors witnessed an annual increase in Q1 2014. The growth in the industry sector slowed down to 8.2% y/y from 9.9% y/y in the previous quarter. The increase was exclusively on account of the extracting industry, which saw a notable 41.6% y/y growth, while the manufacturing industry contracted by 9.9% y/y.

The construction sector swung to a 5.3% y/y drop in Q1 from a 2% y/y rise in Q4 2013.

The agriculture output grew by 3.1% y/y as the annual growth pace speeded up from 1.6% y/y the previous quarter.

Among services, which in aggregate advanced by 0.6% y/y, the retail trade and post and communications advanced by 2.7% y/y and 3.6% y/y, respectively. On the other hand, the transport sector registered a 25% y/y drop.

GDP breakdowns in constant prices (%, y/y)     
  Q1/13 Q2/13 Q3/13 Q4/13 Q1/14
Agriculture, hunting, forestry, fishing -1.1 0.4 2.2 1.6 3.1
Industry 12.4 17.4 -3.0 9.9 8.2
Construction -1.5 20.0 -11.0 2.0 -5.3
Trade, hotels, restaurants 0.2 -0.3 -4.1 3.1 2.7
Transport -6.1 -7.9 -5.8 -29.0 -25.0
Post and communication 10.6 -10.8 -10.1 6.5 3.6
Other services 2.1 -1.3 0.9 1.9 2.0
GDP 2.0 3.6 -2.3 2.2 1.6
Source: INSTAT          

Related Articles

Kosovan PM sceptical about Western Balkans common market

There would be little advantage for Kosovo to join a common market with fellow Western Balkan countries, Prime Minister Isa Mustafa wrote on his Facebook page after EU Commissioner ... more

Effigy of Albanian PM burned at protest

Supporters of Albania’s main opposition Democratic Party (DP) set fire to an effigy of Prime Minister Edi Rama at a protest on March 18, a video of the protest posted on YouTube ... more

US puts Albania, Bosnia and Serbia on blacklist of major money laundering countries

The US department of state has included Albania, Bosnia & Herzegovina and Serbia in its latest list of major ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss