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)|
|Agriculture, hunting, forestry, fishing||8.3||1.2||2.2||2.0||1.2|
|Trade, hotels, restaurants||-2.3||-0.7||-2.4||-3.4||3.1|
|Post and communication||10.3||11.8||-6.1||-4.9||8.4|
Macedonia was rated only “partly free” in the latest report from international watchdog Freedom House, the same almost all of the six Western Balkan countries, despite efforts by the ... more
The Albania’s central bank has announced it will issue a new ALL10,000 (€74.9) banknote. The new ALL10,000 banknote will have the highest value issued so far, as the current biggest value ... more
Albanian Prime Minister Edi Rama presented a new online platform for co-governance with citizens entitled “Albania We Want” on October 28. Ensuring functional and responsible ... more