Albania GDP Growth Rate

The Gross Domestic Product (GDP) in Albania expanded 2.32 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Albania is reported by the Instituti i Statistikave (INSTAT). GDP Growth Rate in Albania averaged 0.94 Percent from 2005 until 2013, 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. 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. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
2.32 -2.00 6.00 -2.60 -0.28 | 2014/06 2005 - 2013 Percent Quarterly

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Albania GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-07-05 11:00 AM Albania
GDP Growth Rate QoQ
Q1 2013 0.7% -0.8% (R) 1.12%
2013-10-04 10:00 AM Albania
GDP Growth Rate QoQ
Q2 2013 1% 0.7% 1.37%
2014-01-08 04:00 PM Albania
GDP Growth Rate QoQ
Q3 2013 -2.0% 1% -0.07%
2014-04-07 01:00 PM Albania
GDP Growth Rate QoQ
Q4 2013 2.32% -2.0% 0.01%
2014-07-02 04:00 PM Albania
GDP Growth Rate QoQ
Q1 2014 2.32% -0.37%
2014-10-02 04:00 PM Albania
GDP Growth Rate QoQ
Q2 2014 -0.28%
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GDP Last Previous Highest Lowest Forecast Unit
GDP 12.65 2012-12-31 12.96 12.97 0.71 13.69 2014-06-30 USD Billion [+]
GDP Annual Growth Rate 1.10 2013-12-31 -2.30 13.50 -10.84 -2.20 2014-06-30 Percent [+]
GDP Constant Prices 238905.70 2013-11-15 233489.40 239407.60 171020.40 235720.98 2014-06-30 ALL Million [+]
GDP per capita 3549.50 2012-12-31 3502.60 3549.50 1065.50 3562.50 2014-06-30 USD [+]
GDP per capita PPP 8123.13 2012-12-31 8015.99 8123.13 2438.36 8152.89 2014-06-30 USD [+]
GDP Growth Rate 2.32 2013-12-31 -2.00 6.00 -2.60 -0.28 2014-06-30 Percent [+]
Gross Fixed Capital Formation 415121.00 2008-06-29 374058.00 415121.00 70939.39 525525.89 2014-06-30 ALL Million [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


RELATED NEWS

Albania Gold Reserves at 1.57 Tonnes  
Gold Reserves in Albania remained unchanged at 1.57 Tonnes in the fourth quarter of 2013 from 1.57 Tonnes in the third quarter of 2013. Gold Reserves in Albania is reported by the World Gold Council.
Albania Business Confidence at -3.20  
Business Confidence in Albania increased to -3.20 in the first quarter of 2014 from -7.40 in the fourth quarter of 2013. Business Confidence in Albania is reported by the Bank of Albania.
Albania Consumer Confidence at -16.40  
Consumer Confidence in Albania decreased to -16.40 in the first quarter of 2014 from -16.20 in the fourth quarter of 2013. Consumer Confidence in Albania is reported by the Bank of Albania.
Albania Producer Prices at 113.20 Index Points  
Producer Prices in Albania remained unchanged at 113.20 Index Points in December of 2013 from 113.20 Index Points in November of 2013. Producer Prices in Albania is reported by the Instituti i Statistikave (INSTAT).
Albania Unemployed Persons at 144.00 Thousand  
The number of unemployed persons in Albania increased to 144 Thousand in the fourth quarter of 2013 from 143 Thousand in the third quarter of 2013. Unemployed Persons in Albania is reported by the Instituti i Statistikave (INSTAT).
Albania Unemployment Rate at 13.50 Percent  
Unemployment Rate in Albania decreased to 13.50 percent in the fourth quarter of 2013 from 16.90 percent in the third quarter of 2013. Unemployment Rate in Albania is reported by the Bank of Albania.
Albania Average Monthly Wages at 52600.00 ALL  
Wages in Albania remained unchanged at 52600 ALL in the fourth quarter of 2013 from 52600 ALL in the third quarter of 2013. Wages in Albania is reported by the Instituti i Statistikave (INSTAT).
Albania Consumer Spending at 827011.51 ALL Million  
Consumer Spending in Albania increased to 827011.51 ALL Million in 2008 from 752963.82 ALL Million in 2007. Consumer Spending in Albania is reported by the Instituti i Statistikave (INSTAT).
Albania Current Account at -135.06 USD Million  
Albania recorded a Current Account deficit of 135.06 USD Million in December of 2013. Current Account in Albania is reported by the Bank of Albania.
Albania Employed Persons at 921.00 Thousand  
The number of employed persons in Albania decreased to 921 Thousand in the fourth quarter of 2013 from 971 Thousand in the third quarter of 2013. Employed Persons in Albania is reported by the Instituti i Statistikave (INSTAT).
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