Construction sector makes up 3 pct of Albania's GDP: data

TIRANA, March 1 (Xinhua) -- Construction sector makes up 3 percent of Albania's Gross Domestic Product (GDP) in 2017, Albania's statistics office said Thursday.

Meanwhile, Albanian authorities issued building permits at the amount of 48 billion lek (445 million U.S. dollars) during 2017.

The overwhelming part of this figure, about 185 million euros, or more than half, relates to projects carried out in Tirana, the country's capital.

This translates into a direct contribution to the economy of about 1.5 percent, statistics showed.

The Bank of Albania said in its latest report that engineering works and new constructions are dominating the building sector, especially when it comes to residential buildings.

The bank's report also emphasizes the importance of the Trans-Adriatic Pipeline project, which is giving companies lots of opportunities to be involved in the implementation of one of the most important energy infrastructure projects in Europe. Enditem