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Albania economy grows 3.08 percent in Q3 2016

Staff Writer |
The Albanian economy expanded by 3.08 percent year on year in the third quarter of 2016, official data showed.

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For the first nine months of 2016, the economy grew by 3.27 percent year on year, according to the Albanian statistics institute.

According to the institute, consumption rose by 1.65 percent in the third quarter of 2016, while investment grew by 11.89 percent.

The financial and insurance industry grew by around 15.4 percent, whereas the real estate sector grew 1.53 percent.

Trade, tourism, transport and services were the greatest contributors to Albania's economic growth in the third quarter of 2016.

On the other hand, the sector of industry, energy, water, professional activities and administrative services had a negative effect on the country's economic growth in the period.

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