TIRANA, Nov 11 /ATA/ The manufacturing sector expanded its contribution to Gross Domestic Product (GDP) at the end of the second quarter of the year.
According to official statistics, the manufacturing sector expanded by about 18.2% compared to a year ago, with a strong impact from construction activity.
The Bank of Albania announces that contribution of this sector to economic growth has accelerated to 3.4 percentage points, from 1.2 percentage points in the first quarter of 2021.
Estimates show that both private and public component have had a positive impact on construction growth.
While activities in industry have given a contribution of 2.5 percentage points to economic growth.
The contribution of processing industry was 1.8 percentage points, which has accelerated compared to the previous quarter. Also, the increase in production from the electricity sector was important for economic growth during the second quarter, contributing 1.4 percentage points, compared to the previous quarter.
Meanwhile, agriculture, forestry and fisheries contracted by 0.6%, highlighting the specifics of the sector and the lack of comparative basis.
GDP significantly accelerated the growth rate, reaching 17.9% at the end of the second quarter 2021. /j.p/sm/
