The value of private consumption in Economy throughout 2004-2014

Open Data Albania analyzed the performance of private consumption indicators in the Albanian economy for the period 2004-2014. Consumption is related to Gross Domestic Product GDP. GDP of an economy can be measured in several ways. One of them is the method of expenditure.

Assessment of GDP by the expenditure method involves connection between 4 sectors of the economy: Families, Enterprises, Government and External Sector. Due to the fact that GDP measures the whole production of a country’s economy, it can be measured also by collecting all the costs incurred by these four sectors.

Private consumption, also called the final consumption of households, is composed of the total costs of goods and services incurred by resident households to meet their individual requirements.

^{Source: INSTAT, Gross Domestic Product by method of expenditures
Comments and analysis: ODA}

The level of private consumption had the largest increase in 2008 (by 15.2%), and smaller increase in 2013 (by 3.3%). On average, the annual growth of private consumption amounted to 6.8% in the past 10 years.

^{Source: INSTAT, Gross Domestic Product by method of expenditures
Comments and analysis: ODA}