Current Account in Albania

Albania Current Account | Economic News & Forecasts

Albania - Current Account

A pick-up in economic growth in Q3 was buoyed by a strong external sector and robust domestic demand. Private consumption growth accelerated, likely supported by a tightening labor market and contained inflationary pressures, which more than offset cooling public spending and contracting fixed investment. Less positively, the power-generation sector entered a tough spot owing to a severe drought. Looking at the final quarter of 2019, merchandise exports contracted sharply in October–November but as imports also fell, the trade deficit remained virtually unchanged compared to Q3. Exports fell chiefly due to a sharp drop in shipments of textile and footwear, construction materials, and metals. Meanwhile, tourist arrivals grew strongly in the first two months of Q4.

Albania - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-9.3  -10.8  -8.6  -7.6  -7.4  

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Albania Current Account Chart

Albania Current Account
Note: Current account balance as % of GDP.
Source: Bank of Albania

Albania Facts

Exchange Rate108.6-0.56 %Jan 01
Stock Market0.10.0 %Jan 07

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