Albania / The number of businesses has decreased for the fourth year in a row
The number of private businesses in Albania declined for the fourth year in a row. Data from the Institute of Statistics showed that for 2019 the number of businesses, not including farmers, was less than 118 thousand, down 3.5% compared to 2018. The number of new enterprises registered during the year also decreased significantly at about 17,500, about 3,000 less compared to 2018.
Most economic sectors have shrunk in the number of active businesses, starting with trade and industry. The number of commercial enterprises shrank by about 2,300 last year, following a downward trend in recent years. In four years, the number of commercial businesses has decreased by approximately 7 thousand since 2016.
In the industry, last year approximately 600 fewer businesses were registered, while the downward trend continued in the hotel and restaurant sector, which resulted in almost two thousand less active businesses compared to 2018.
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