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News 16 Feb 12

Albania’s Posts Growth of 2.6% in Third Quarter of 2011

Albania’s gross domestic product grew by 2.6 percent compared with the same period in 2010, according to Albania’s National Institute of Statistics, INSTAT.

Besar Likmeta
BIRN
Tirana
Highway construcion in Albania | Photo by : Besar Likmeta

"In the third quarter, the sectors that registered the highest growth were transportation, trade and industry," INSTAT said in a statement.

Transportation grew by 19.7 percent compared with the same period in 2010, trade was up 6.2 percent and industry expanded 4.7 percent.

The sectors that saw a decline in the third quarter of last year were services and post/telecommunications.

INSTAT has published quarterly data on economic growth since 2008.

Since then, positive preliminary estimates have often been revised to reveal downward trends, prompting debate about the credibility of preliminary government estimates. Some experts have complained that positive forecasts are issued due to political pressure.

The positive estimate for the third quarter of 2011 came after INSTAT cut the growth figure for the same period in 2010.

Albania’s government has often been at odds with the International Monetary Fund and with opposition politicians over economic growth forecasts.

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