Albania's economy expands 1.1% y/y in Q4 2013.

By bne IntelliNews April 8, 2014

Albania’s economy expanded by 1.1% y/y in non-adjusted terms in the fourth quarter of 2013, improving from a 2.5% annual contraction in the previous quarter, the state statistical institute, INSTAT, informed.

The seasonally-adjusted figures showed a 2.3% quarter-on-quarter increase in Q4, following a 2.1% q/q drop in Q3.

Most of the economic sectors witnessed an annual rise in Q4 2013. The output of the industry increased by 7.2% y/y in Q4, reversing a 2.9% y/y drop in the previous quarter, thanks to a 7.8% y/y increase in the manufacturing industry, coupled with a 5.1% y/y growth in the extracting industry. The construction sector also swung to a 3.7% y/y rise in Q4 from a 11% y/y decline in Q3. The agriculture output grew by 1.2% y/y but the annual growth pace slowed down from 2% y/y in Q3.

Among services, which in aggregate dropped by 1.2% y/y, the transport sector registered the steepest drop of 27.9% y/y. On the other hand, the retail trade and post and communications advanced by 3.1% y/y and 8.4% y/y, respectively.

GDP breakdowns in constant prices (%, y/y)     
  Q4/12 Q1/13 Q2/13 Q3/13 Q4/13
Agriculture, hunting, forestry, fishing 8.3 1.2 2.2 2.0 1.2
Industry 5.8 14.6 1.6 -2.9 7.2
Construction -15.3 -6.0 18.7 -11.0 3.7
Trade, hotels, restaurants -2.3 -0.7 -2.4 -3.4 3.1
Transport -6.3 -0.9 -5.9 -3.6 -27.9
Post and communication 10.3 11.8 -6.1 -4.9 8.4
Other services 7.6 1.4 1.8 -0.4 -1.8
FISIM 8.4 5.7 4.2 0.9 -7.9
GDP  1.0 1.7 1.7 -2.5 1.1
Source: INSTAT          

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