TIRANA (Albania), July 1 (SeeNews) – Albania's gross domestic product (GDP) grew by 2.21% year-on-year in the first quarter of 2019, the office of statistics said on Monday.
On a quarterly comparison basis, Albania's GDP increased by 0.56% in the January-March period, the statistical office, INSTAT, said in a quarterly economic growth report.
In the last quarter of 2018, Albania's economy grew by an estimated 3.1% year-on-year and was 0.57% higher on a quarterly comparison basis.
The main growth engines in the first quarter of 2019 were trade, transport, accommodation and food services, real estate as well as construction.
In 2018, Albania's GDP grew by 4.06%, after a 3.84% increase in 2017, according to preliminary estimates released by INSTAT in March.
Economic growth of up to 4.3% and deficit equivalent to 1.9% of GDP are forecast in Albania’s 2019 budget.