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Albania Posts 4 PCT Q3 GDP Growth

Albania’s gross domestic product (GDP) increased by an annual 4.02 percent in the third quarter (Q3) of 2022, the National Institute of Statistics (INSTAT) said in a report on Friday.

In the second quarter, the increase was 2.23 percent.

The country’s economy expanded by 2.33 percent between the months of July and September, based on a quarterly comparison.

The sectors that contributed most to growth in the third quarter were arts, entertainment and recreation services, construction, trade, transport, accommodation and food services, real estate and information and communication, the report said.

Albania’s GDP grew by 8.54 percent in 2021, after decreasing by 3.48 percent in 2020, when it was hit hard by the COVID-19 pandemic.