INSTAT data show retail sales grew by 11.3 percent year-on-year and were up by 7.5 percent compared to the first quarter of the year
TIRANA, Oct. 1 – Retail sales continued their double-digit growth rates even in the second quarter of 2013, unveiling signals of recovery in domestic consumption which is the key driver of Albania’s growth. INSTAT data show retail sales grew by 11.3 percent year-on-year and were up by 7.5 percent compared to the first quarter of the year.
The performance of retail sales indicates the Albania economy has progressed compared to the second quarter of 2012 when it grew by 2 percent year-on-year. Albania’s GDP grew by 1.7 percent year-on-year in the first quarter of 2013 driven by double digit increase in post and telecommunication and in industry.
Data show the volume of “food, beverage, tobacco” retail sales rose by an average of 11 percent in non-specialized stores and was down by 5 percent in specialized stores compared to the second quarter of 2012. Garment and footwear products rose by around 10 percent compared to the second quarter of 2012. Retail sales of household appliances rose by 18 percent while sales of books, newspapers shrank by 7.7 percent year-on-year.
The “trade, maintenance, repair of motor vehicles” rose by an average of 13 percent year-on-year in the second quarter of this year. Within this group, the retail sale of fuel rose by 14 percent.
Data published by the country’s Institute of Statistics show retail sales ended their negative growth rates in the third quarter of 2012 when they grew by a mere 0.2 percent year-on-year and 10 percent compared to the previous second quarter. In the final quarter of 2012, retail sales grew by 5.5 percent year-on-year and were up by 13.7 percent in the first quarter of the year.
Albania is expected to register a moderate increase of GDP for the second quarter of 2013 driven by higher exports and an increase in government spending ahead of the June 23 general elections.
