GDP in Albania

Albania GDP | Economic News & Forecasts

Albania - GDP

Economic activity was likely dampened at the outset of 2022 by a surge in Covid-19 cases—which has since subsided, along with the associated restrictions—and the Russian invasion of Ukraine. In March, consumer confidence tumbled to its most pessimistic level since the beginning of the Covid-19 pandemic, while inflation reached its highest levels in decades, hinting at subdued private spending in Q1. Moreover, the war is expected to be taking a significant toll on the tourism sector—which accounts for around 25% of GDP—due to sharp drops in visitors from Belarus, Russia and Ukraine. Turning to this quarter, conditions have barely budged: In April, inflation rose to its highest level in over 20 years, while consumer confidence remained noticeably downbeat. Meanwhile, amid the backdrop of war to the east, Albania and North Macedonia urged the EU to accelerate their accession processes.

Albania - GDP Data

2015   2016   2017   2018   2019  
Economic Growth (GDP, annual variation in %)2.2  3.3  3.8  4.1  2.2  

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Albania GDP Chart


Albania GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: Institute of Statistics

Albania Facts

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

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