Albanian economy grows 3.94 pct in Q1

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Albania’s Gross Domestic Production (GDP) registered an annual growth of 3.94 percent in the first quarter of 2017 compared to the same period last year, Albanian Statistics Institute (INSTAT) said Friday in a quarterly report.

Official data showed that such growth was mainly attributed to the sector of construction at 1.00 percentage points, trade, hotels, restaurants and transport at 0.51 percentage points, public administration, education and healthcare at 0.51 percentage points, and industry, energy and water at 0.50 percentage points.

The report noted that a positive impact was also attributed to financial and insurance activities, agriculture, forests and fishery, and professional activities and administrative services.

On a quarterly comparison basis, Albania’s GDP increased by 0.74 pct in the January-March period, INSTAT said.

In 2016, Albania’s economy expanded by an estimated 3.5 percent while for this year, authorities expect a higher growth at 3.7 percent.

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