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INSTAT: Economy grows by nearly 4%, contribution from tourism, construction, wage growth and employment
2025-03-27 16:25:24 / EKONOMI&SOCIALE
The Albanian economy recorded strong growth of around 4% throughout 2024.
INSTAT published today the report on Gross Domestic Product (GDP), announcing that the main sectors that led economic growth in the country were tourism, construction, wage growth and employment.
"The following groups were assessed with positive growth: the "Real Estate Activity" group with 7.80%, "Construction Activity" with 6.95%, "Information and Communication" with 6.33%, "Public Administration, Education and Health Activity" with 4.33%, "Arts, entertainment and recreation, other service activities" with 1.83%, "Industry, Energy and Water Activity" with 0.02%.
Whereas, the following groups were assessed to have decreased: the group of "Financial and Insurance Activities" by 9.46%, the group of "Professional Activities and Administrative Services" by 4.64%, the group of "Agriculture, Forestry and Fishing" by 0.50% and the activity "Trade, Transport, Accommodation and Food Services" by 0.06%, "Net Taxes" on products had a decrease of 1.03%", INSTAT announced.
Meanwhile, during 2024, exports of goods and services decreased by 1.73% and imports of goods and services increased by 3.12%.
INSTAT announces that the Gross Domestic Product (GDP), in real terms, in the fourth quarter of 2024 is estimated to have grown by 3.63% and the GDP for 2024 marked an increase of 3.96%, compared to 2023.
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