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          

Related Articles

New parliamentary dress code to rein in Albania’s sneaker loving PM

Albanian Prime Minister Edi Rama will have to change his sartorial ways when he attends parliament sessions under a new code of conduct for MPs drawn up by the governing Socialist Party.  The ... more

Albania a "centre of organised crime" says US ambassador

The US ambassador in Albania Donald Lu has urged the authorities in Tirana to fight against organised crime, which he said was the biggest and most difficult challenge ahead for the country. ... more

Albanian opposition parties demand referendum on waste imports

Albanian opposition parties have asked for a referendum to be held to end a six-year debate on whether the country should permit waste imports.  The ... more

Dismiss