Albania's industrial output down 11.2% y/y in 1Q20

Albania's industrial output down 11.2% y/y in 1Q20
By bne IntelliNews June 21, 2020

Albania's industrial production went down by 11.2% y/y in the first quarter of 2020, reversing a 5.4% y/y increase in the previous quarter, according to seasonally unadjusted data released by statistics institute INSTAT on June 19.

The industrial production declined as the country felt the first consequences of the coronavirus (COVID-19) crisis which emerged in March.

Compared with the previous quarter, industrial production plunged by 14.1% after rising by an adjusted 3.6% q/q in 4Q19.

Production volume index in the mining and quarrying subsector fell 18.7% y/y in the first quarter, and plummeted 23.2% q/q.

In the manufacturing industry, the index decreased 8.1% y/y and was lower 7.6% q/q.

On an annual basis, production in the electricity and gas sector jumped 23.7% y/y and declined 2.8% q/q.

The output in the water supply and waste management went down 20.6% on an annual basis and decreased 21.2% q/q in 4Q19.

The output in the Albania's construction sector fell 9.7% y/y and decreased 3.1% q/q in the period under review.