Analiza Posted on 2025-07-03 12:05:00

Household consumption increased by 100 euros per month/ Albanian economy, dependent on consumers. They contribute 69% to GDP

From Xhorxhina Deda

Household consumption increased by 100 euros per month/ Albanian economy,

The year 2024 has added about 95.8 billion lek to Albanian families in the form of consumption. The latest data from the Institute of Statistics regarding Gross Domestic Product (GDP) during 2024 provide a clear picture of the impact of household consumption on the Albanian economy.

Thus, the final consumption of the population has increased by 3.71% in 2024, compared to 2023, from about 1.64 trillion lek to 1.74 trillion lek. This increase translates into a contribution of 2.6% to the country's Gross Domestic Product. This indicator refers to the total expenditure on goods and services by resident households to meet their requirements in a year, and includes several items, such as the purchase of daily products and services, health expenses, the purchase of vehicles, rental expenses, but also implicit rental expenses (which also include those households that do not actually pay such a rent), etc.

So, the figures show that over the past year, the consumption of Albanian families has increased by about 95 billion lek, or about 958 million euros per year. If we were to divide this figure for each family (according to the 2023 Census, there are about 755,950 families in Albania), then it turns out that Albanian families have consumed on average about 1,200 euros more, compared to 2023. This figure is fixed at about 100 euros more per month for each family.

Figures from the Institute of Statistics regarding the Gross Domestic Product of Albania during 2024 show that the weight of consumption of Albanian families in the country's economy is estimated at 68.92%. So, 7 out of 10 lekë that moves in the economy comes from family spending. This shows that the Albanian economy is dependent on the family consumer, which makes the economy sensitive to any change in income or consumer confidence.

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