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Albania's GDP rises to 3.23% y/y in Q2 2023

12 october 2023

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Albania's gross domestic product (GDP) grew by 3.23% year-on-year in the second quarter of 2023. This is what BalkanEnigeer.com learned from English.news.cn. The favorable Q2 results are in line with those of the first quarter, when GDP increased by 2.72% y/y.

 

 

According to the INSTAT statistical office, positive contributions to GDP growth were made by construction by 1.43 percentage points; real estate operations (0.72 percentage points); public administration, education and health (0.66 percentage points); arts, entertainment, recreation and other service activities; and information and communication (0.26 percentage points).

 

Negative contributions were made by industry, energy and water (-0.31 percentage points), professional and administrative activities (-0.27 percentage points) and agriculture, forestry and fishing (-0.03 percentage points).

 

Albania's government expects the economy to grow by 3.7% this year, while in a recent report the European Bank for Reconstruction and Development (EBRD) maintained its forecast for the country's economic growth at 2.5% in 2023.

 

Photo source: canva.com

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