Agriculture is proving itself each day as the life-saving sector of the Albanian economy, keeping our country out of recession.
Official data show that after 2009, all economic branches were hit by the crisis, brining a strong plunge of production and of its contribution in the national economy. The only sector which was not affected by this trend is agriculture. According to the Institution of Statistics, the agricultural production increased with 7.9% in 2010, compared to one year ago. This made 40% of the total economic growth come from agriculture.
Numbers show that agricultural production has played a key role in softening the crisis even in the following years. Farming production contributed with 0.7% in 2011, and its role became even more vital for the economy after that year.
According to the Bank of Albania, agriculture increased the Gross Domestic Product in 2012 with 1.1%, from 1.5% of the total growth for that year. The data is incomplete for 2013, since the Institution of Statistics has not reported the figures of the fourth trimester. But for the first nine months of the year, they show that if it wasn’t for the positive pace of agriculture, our economy would now be in recession, since all other sectors have marked a deep plunge.
Experts say that agriculture is one of the sectors with the biggest potentials for making the economy grow. The Bank of Albania has asked governments to increase the support to this sector, which, according to them, should be the foundation of the new economic model.
Top Channel
