Retail Sales in Albania increased by 3.2% for Q1
Retail sales in the Albanian economy grew by 3.2% in the first quarter of this year. According to the Institute of Statistics, the annual growth of retail sales was at the same level as the last quarter of last year.
However, excluding the fuel segment, the growth in retail sales has been higher. Excluding hydrocarbons, the retail sales index increased by 3.5%, from 2.6% in the third quarter. This shows that fuel sales have had a deterrent effect on the growth of retail trade in the economy. Meanwhile, the main positive impact has been the growth of sales for non-food products, with an annual growth of 3.8%.
Retail sales are among the main indirect indicators of the private consumption performance in the economy. Consumption is the main pillar of the growth of the Albanian economy, with over 80% of the total contribution. Although overall economic growth this year is expected to be lower than last year, consumption appears to be improving, at least for the first quarter.
Growth in retail sales shows a tendency to improve private consumption, supported by the decline in unemployment, increased consumer confidence, and the expansion of credit for this purpose.
*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.