GDP in Albania

Albania GDP | Economic News & Forecasts

Albania - GDP

GDP growth softened in Q3 amid a less favorable base effect, but remained strong nonetheless (Q3: +7.0% yoy; Q2: +18.4% yoy). The slowdown was evident across most sectors of the economy after Q2’s elevated figures. Turning to the fourth quarter, available data paints a mixed picture: Visitor arrivals eased again in November, as uncertainty around Covid-19 restrictions weighed on the tourism sector. On the other hand, export growth remained firmly in double digits in October–November and outpaced growth in Q3 on average. In politics, in December President Ilir Meta refused to sign the 2022 budget passed in parliament, citing inefficient support to combat the impact of the pandemic on the agricultural sector and the lack of a plan to reduce public debt. Meanwhile, on 15 December, Bulgaria blocked EU accession for both North Macedonia and Albania once again, further delaying an already lengthy process.

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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