Albanian economy falls by 2.26% in Q3 2013

The Albanian economy in the third quarter of 2013 fell by 2.26 percent compared with the same period of 2012, with all sectors declining except agriculture, according to data published on Wednesday. According to the Institute of Statistics (INSTAT), in the third quarter of 2013 the Gross Value Added in volume terms decreased by 2.26 percent compared with the third quarter of 2012, with main sectors having a negative impact on the country's economy. The economy also fell by 2 percent compared with the previous quarter of 2013, said INSTAT. Meanwhile, agriculture activity grew by 2.9 percent in the third quarter of 2013 compared with the third quarter in 2012. In third quarter, the country's industry registered a decrease by 4.6 percent, with the manufacturing output decreasing by around 7 percent. The negative performance of the construction industry over the past years continued also in the third quarter of 2013, with construction activity furthered decreased by around 10 percent. The group of trade, hotels and restaurants decreased by 3.4 percent in the third quarter compared with the same period of 2012. Transport activity decreased by 4.2 percent.