Page 70 - SE Outlook Regions 2022

3.0 Real economy outlook

3.1 Real economy - Albania

3.1.1 Retail

Albania’s retail sales revived in 2021 after the shock of the coronavirus
pandemic and initial spring 2020 lockdown the previous year. Growth
may slow in the coming quarters, not just because of the phasing out of
the base effect from 2020, but also because of rising inflation.

The latest data show Albania’s retail sales rose by an annual 4.9% in
the third quarter of 2021, slowing from a 9.9% increase in the previous
quarter, according to statistics office Instat. Compared with the previous
quarter, the retail sales were up 6.9%, after edging down 0.3% in the
previous quarter, seasonally adjusted data showed.

The biggest contribution to the annual growth in retail sales came from
sales of motor fuel with 2.4 percentage point (pp) and the group of
non-food products in specialised and non-specialised stores (1.9 pp).
Food, beverages and tobacco in both specialised and non specialised
stores contributed 0.6 pp.

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