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Albania's GDP growth slows to 3.6% y/y in Q1

Jul 9, 2024, 10:33:28 AMArticle by Genta Hodo
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July 9 (SeeNews) - Albania's gross domestic product (GDP) grew by an annual 3.63% in the first quarter of 2024, after increasing by 3.8% in the fourth quarter of 2023, the country's statistics office, INSTAT, said.

Albania's GDP growth slows to 3.6% y/y in Q1
Photo: Genta Hodo for SeeNews

On a quarterly comparison basis, Albania's economy advanced by 1.02% in the January-March period, the statistical office, INSTAT, said in a quarterly report on Monday.

The main contributors to the country's yearly economic growth were construction, which contributed 1.19 percentage points (pp) to the GDP, public administration, education, and health, with 0.92 pp, and trade, transport, accommodation and food services with 0.76 pp.

Albania's GDP grew by an annual 3.44% in 2023, after increasing by 4.84% in 2022.

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