Industry of Albania continued to expand in 2014 Q1, although at a slower pace compared to the previous quarter, media quoted a report published by the Bank of Albania (BoA) as saying Saturday.
Albanian Telegraphic Agency quoted the BoA report saying that, in terms of value-added, industrial production increased at an annualized rate of 8.2 percent in the quarter under review, from 9.9 percent in the previous quarter.
By branches, industrial activity was driven by extractive industry, which contributed by 14.6 percentage points to the increase in the industry sector.
The sub-branches of production and distribution of electrical energy, gas and water reduced the total value-added in the economy by around 1.2 percentage points, in turn, affecting the contraction in processing industry.
Conversely, other activities included in the processing industry showed positive dynamics. The improved industry firms' survey indicators signaled continued positive performance of this sector during 2014 Q2.
Meanwhile the influx of exports of industrial products continued to grow during April and May.