Albania's industrial sales growth speeds up to 12.5% y/y in Q1 2013

By bne IntelliNews July 10, 2013

Albania's industrial sales increased by 12.5% on the year in the first quarter of 2013, speeding up from a 4.3% annual growth recorded in the previous quarter, the statistics office reported.

The turnover in the extracting industry registered the highest growth of 26.8% y/y, which however was slower than the 33.1% y/y increase in Q4 2012. Sales in electricity production witnessed an annual increase of 22.7%. The turnover in the manufacturing reversed to an 8.7% y/y rise after falling 4.4% y/y in the previous quarter.

Employment in the industrial sector declined 1.4% y/y in Q1 2013 with the main contributor being the manufacturing sector.

Wages in overall industry advanced by 13.9% y/y thanks to a strong 52% annual rise in salaries in the extracting industry, 17.8% y/y increase in the electricity sector as well as 4.1% y/y growth in the manufacturing.

Industrial sales % y/y           
  Q1/12 Q2/12 Q3/12 Q4/12 Q1/13
TOTAL INDUSTRY -6.2 5.7 7.2 4.3 12.5
Extracting  29.9 24.2 23.9 33.1 26.8
Processing  -22.2 1.0 4.0 -4.4 8.7
Electricity, water, gas 32.4 15.1 12.7 18.4 22.7
Source: INSTAT          

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