Albania in a Snapshot 2019
Albania in a snapshot is an economic insight that presents an economic overview of Albania, in terms of country’s perspective for development in comparison with Western Balkan region.
What does Albania have to offer? What are the key performance indicators based on the latest economic reports? How do they change in short-term and long-term projections? How is the market developing? What are the new opportunities?
Deloitte aims to provide a general understanding on opportunities and risks of the current economy in order to support local and international companies in pursuit of their key objectives.
Economic Insights | GDP trends
According to the Economist Intelligence Unit, GDP growth for Albania in 2018 is at 4.0%, surpassing the forecasted GDP growth of 3.9% and registering the strongest performance since 2008. The growth has been driven by robust household consumption, stemming from the decline in unemployment and continuing strong demand from euro zone markets. However, economic growth slowed in the fourth quarter of 2018. This trend continued in first quarter of 2019, when growth was 2.2% year on year, down from 3.3% in the previous quarter. Therefore, the economic expansion is forecasted to slow down from 2019 onwards (compared to previous years), specifically growing by 3.4% in 2019 and on average 3.6% for the period 2020-23.