The economy of Albania and Kosovo, with a high growth rate - BoA: "Overtaken" the trading partner countries of the region in the first quarter
Albania and Kosovo lead the region in terms of their economic growth in the first quarter of this year. According to the Bank of Albania, despite the economy growing at a slower pace at the beginning of the year, our country, together with Kosovo, has had a slightly higher growth than other trading partner countries in the region, such as Serbia, North Macedonia or Greece.
Although Serbia's economy is much more developed than that of Albania or Kosovo, in terms of growth rate, it fell to 2%, from 3.3% in the last quarter of last year. This slowdown of the Serbian economy came as a result of weak investment performance.
On the other hand, the Albanian economy grew by 3.4% in the first quarter, driven by the expansion of household consumption, public and private investment, and exports of goods and services. Given that our economy and that of Kosovo are smaller and many sectors are still under development, this high growth rate is expected.
In North Macedonia, economic growth marked 3%, as a result of the weakening contribution from public consumption and slower investment growth, while in Kosovo, it slowed to 3.6%, as a result of the decline in goods exports during the first quarter of 2025.
As for prices, they increased in Albania during the second quarter. Inflation reached an average of 2.3%, mainly driven by food and rent prices.
Meanwhile, inflation has accelerated significantly in Kosovo, reaching 3.6% due to rising electricity and food prices. Price increases have slowed in Serbia and North Macedonia, due to falling fuel prices and slowing food inflation.
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