Albania GDP Growth Rate
The Gross Domestic Product (GDP) in Albania expanded 0.16 percent in the first quarter of 2014 over the previous quarter. GDP Growth Rate in Albania averaged 0.83 Percent from 2005 until 2014, reaching an all time high of 6 Percent in the second quarter of 2005 and a record low of -2.60 Percent in the third quarter of 2009. GDP Growth Rate in Albania is reported by the Instituti i Statistikave (INSTAT).
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Albania’s most important sector is the services sector (60 percent of GDP) with banking, communications and tourism being the most important. Banking has been a heavy recipient of foreign direct investment and is the strongest sector. Remittances also have a big importance for the economy and account for around 8 percent of GDP. Agriculture dominated by small family owned operations employs almost half of the labour force, but accounts for only 20 percent of GDP. The manufacturing industry is responsible for 20 percent of GDP. This page provides - Albania GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.