Albania GDP Annual Growth Rate

Last Release

Dec 31, 2022

Actual

4.73

Units In

4.02

Frequency

Quarterly

Next Release

Apr 02, 2025

Time to Release

3 Months 5 Days 0 Hours

Highest	Lowest	Average	Date Range	Source
18.38 Jun 2021	-11.33 Jun 2020	3.86 %	1996-2022	Instituti i Statistikave (INSTAT)

In Albania, the most important component on the expenditure side of the GDP is household consumption (78 percent) followed by gross fixed capital formation (26 percent) and government expenditure (11 percent). Net exports of goods and services subtracts 18 percent from the GDP as exports accounts for 35 percent and imports for 53 percent.

Latest Updates

Albania's gross domestic product rose 4.1 percent year-on-year in the third quarter of 2024, accelerating from a downwardly revised 4% growth in the previous three-month period. Government spending accelerated (6.8% vs 6.7% in Q2), while household consumption (0.8% vs 5.7%) and gross fixed capital formation (4.55 vs 4.9%) eased. Also, net external demand contributed negatively to growth, as imports surged 6.8% and exports increased at a softer 2.3%. On a seasonally adjusted quarterly basis, the economy grew 2.8%.