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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