At the end of the third quarter of 2018, the ratio of private sector credit to Albania's gross domestic product (GDP) was estimated at 35.3 percent, the country's central bank said in its credit survey report published on Monday.

The Bank of Albania said the moderate increase in business credit in recent years has been influenced by both demand and supply factors.

Business credit represents the largest part of the lending portfolio for the private sector.

According to the report, at the end of Q3 the loan portfolio for businesses was dominated by credit for the "trade, hotels and restaurants" sector. This portfolio accounted for about 45 percent of the private sector credit balance at the end of the third quarter of the year and was followed by credit to the industry sector, at 23.7 percent.

The loan portfolios for the construction and "other services" sectors accounted for 14.6 percent and 15.2 percent, respectively, of total loans.

The Bank of Albania estimates that the economic sector least credited remains agriculture due to its low degree of formalization, high level of risk and other problems.