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Albania's GDP grows 3.21 pct in Q2 2016

Xinhua, October 8, 2016 Adjust font size:

The gross domestic product (GDP) of Albania registered annual growth of 3.21 percent in the second quarter of 2016 compared to the same quarter of 2015, the Albanian institute of statistics (INSTAT) said Friday.

On a quarterly basis, Albania's GDP increased by 0.91 percent in Q2 compared to Q1, 2016.

According to INSTAT, the GDP growth in Q2 was mainly driven by the increased performance in sectors such as industry, electricity and water.

However, the extracting industry continued to register a negative performance, decreasing by 18.07 percent compared with the second quarter of 2015.

Construction activity increased by 1.81 percent on annual basis while compared to previous quarter it increased by 3.64 percent.

The group of trade, hotels and restaurants and transport went up by 4.98 percent in the second quarter of 2016 compared to the same quarter of 2015 while on quarterly basis, it increased by 1.34 percent. Endit