Construction Sector in Albania

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Press Release

Construction Sector in Albania 2010

SeeNews releases a new report entitled ‘Construction Sector in Albania’ SeeNews , a business information provider for Southeast Europe, has published the report ‘Construction sector in Albania’. In January 2011, the American Chamber of Commerce in Albania announced it expected the upward trend in infrastructure construction to continue in the short run and to compensate for the decline in construction of private buildings induced by the saturation of real estate market. In the third quarter of 2010 construction recorded a 22% year-on-year decrease in terms of value, and was the only sector in the Albanian economy with a negative growth rate of -2.5% compared to the previous quarter. The sector shred some 20% off its value in the period mainly due to a contraction in private construction. The Albanian Institute of Statistics (INSTAT) reported a significant decrease of 21.1% on a yearly basis in the value added of construction in the first quarter of 2010. The growth in the first two quarters of 2009 was mainly driven by civil engineering projects financed predominantly from public sources. The construction confidence index decreased continually throughout 2009. In the fourth quarter it went down by 13 percentage points compared to the third quarter, falling to its lowest level since 2002 when its measurement started.