Albania Economic Outlook
May 7, 2019Economic growth is likely to have kept a similar pace of expansion in the first quarter compared to the prior quarter on a mixed bag of data. Foreign tourist arrivals grew year-on-year in the first quarter, which should have given a boost to private consumption and the wider economy. That said, arrivals only rebounded modestly from the previous quarter’s small decrease. Moreover, construction materials and metals imports recovered in March, suggesting the construction sector performed better around the turn of the quarter. However, the trade deficit widened in the first quarter as exports contracted and imports increased. Meanwhile, in the political arena, anti-government protests continued in recent weeks as the 30 June local elections edge closer.
Albania Economic GrowthAlbania’s economy should continue growing robustly this year on the back of firming domestic demand, supported by a tightening labor market and private credit growth underpinning household expenditure. Moreover, electricity production should continue to buttress exports. However, potential droughts threaten the sector, while a prolonged slowdown in the Eurozone also clouds the economic outlook. FocusEconomics panelists expect growth of 3.9% in 2019, which is unchanged from last month’s forecast, and 3.7% in 2020.
Albania Economy Data
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|Exchange Rate||110.0||-0.56 %||May 13|
|Stock Market||0.1||0.0 %||May 13|
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