Economy grew by real annual 4.1% in the third quarter 2009

TIRANA , Jan 27؁lbania’s economy grew by a real4.1% year-on-year in the third quarter of 2009 boosted mostly by the telecommunications sector, data of the country’s statistics office INSTAT indicated.
The country’s economy rose by 0.4% as compared to the second quarter, INSTAT said on its website without providing data on the value of the third-quarter gross domestic product.
The telecommunications sector rose by 34.3% on the year and 20.5% on the quarter. The transport sector rose 15.5% year-on-year over and 3.5% quarter-on-quarter.
Services increased 2.3% as compared to the third quarter of 2008 but fell 0.2% as compared to the second quarter of 2009. The industry dropped by an annual 4.5%in the third quarter but was 5.0% on a quarterly basis.
The construction sector fell 0.2% on the year and by 9.5% on the quarter, while the agriculture sector expanded 2.8% and 0.3% as compared to the third quarter of 2008 and to the second quarter of 2009, respectively.
The sector of trade, hotel and restaurant services posed a 6.4% annual increase and a 1.6% quarterly rise.
Albania has projected a 5.0% real economic growth for 2009. Its gross domestic product (GDP) grew by a real 8.0% in 2008.
For 2010, the government in Tirana expects a 6.5% economic growth. The country’s gross domestic product is expected to reach 1.279 trillion leks ($12.98 billion/9.22 billion euro) in nominal terms this year, compared to 1.167 trillion leks projected for 2009.
In its latest report released last week, the European Bank for Reconstruction and Development said it expects Albania’s economy to grow by 4.3% in 2009 and by 2.0% in 2010.