The Gross Domestic Product has seen a 5.5% growth in the first 3 months of the year, a signal which shows that the economy could be slowly recovering from the pandemic. Data from INSTAT shows that industry and construction were the sectors with the highest contribution to this growth.
The Institute of Statistics reports that the sectors of the economy that have contributed the most to the local economic growth were the electricity and construction industries. These sectors have had the biggest contribution, exhibiting a yearly growth of 17 and 24 % respectively, – the highest percentage, since the drop our economy suffered because of the global crisis triggered by the pandemic.
INSTAT also reports an increase in the value of money in the activities of banks, insurance groups and real estate agencies.
In the meantime, other service branches like transportation, trade and accommodation have resulted in negative figures and the concern regarding their need for a stimulus has been expressed by various groups of interest and economy experts.
The final consumption rate of the population, which makes up the biggest portion of spending in our economy increased by 1.49%, the final government consumption rate went up by 5.16%, export of goods and services went up 0.66%, whereas the import of goods and services saw a 7.55% rise.
International financial institutions predicted that during the year, Albania would have had a good economic recovery, but based on the data, the increase is only estimated to be around 4 to 5 %.
GDP percentage increase from 2020-2021
Agriculture 0.01%
Industry, energy, water 2.56%
Construction 1.09%
Transportation, trade, accommodation -0.14%
Education, healthcare 0.97%
Taxes – 0.02%
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