Albania


Albania Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Albania; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bankBank of Albania
International ReservesUS$ 2.541 billion (Source: World Bank; Data updated: November 2010)
Gross Domestic Product - GDPUS$ 13.032 billion (2010 estimate)
GDP (Purchasing Power Parity)24.946 billion of International dollars (2010 estimate)
Real GDP growth
20002001200220032004200520062007
7.3%7.9%4.2%5.8%5.7%5.8%5.4%5.9%
2008200920102011*
7.7%3.3%3.5%3.4%

*Estimate

GDP per capita - current pricesUS$ 4,050 (2008 estimate)
GDP per capita - PPP$7,753 International Dollars (2008 estimate)
GDP (PPP) - share of world total
19801990200020102015**
0.04%0.04%0.03%0.03%0.03%

**Forecast

GDP - composition by sector
  • agriculture: 21.5% 
  • industry: 19.5% 
  • services: 59% (2009 estimate)

    • (Data released on November 2010)

Gross domestic expenditure on R&D (% of GDP)N/A

(Data released on November 2010)

Inflation
2008200920102011*
3.4%(2008)2.2%3.6%4.5%

*Estimate

Unemployment rate
2008200920102011*
12.5%13.1%12.5%(2009)11.5%

*Estimate

Household saving ratesN/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
53.9%55.2%60.2%59.7%59.9%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
-3.6%-5.1%-7.4%-4.1%-5%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: B+/Stable/B

Moody's rating: B1

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
N/AN/AN/A
Largest companies in AlbaniaN/A
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ -1.5 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP-11.2% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

28.7% (2009)

(Data released on December 2010)

Shares in world total merchandising export0.01%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export0.06%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$1.55 billion f.o.b. (2010 estimate)
Export commoditiestextiles and footwear; asphalt, metals and metallic ores, crude oil; vegetables, fruits, tobacco
Total imports$4.844 billion f.o.b. (2008 estimate)
Import commoditiesmachinery and equipment, foodstuffs, textiles, chemicals
Exports - major partnersItaly 72%, Greece 8.8%, China 2.7% (2007)
Imports - major partnersItaly 27.6%, Greece 14.8%, Turkey 7.4%, China 6.8%, Germany 5.6%, Switzerland 5%, Russia 4.2% (2007)
FDI inflows
200820092010
US$988 millionUS$979 million(2009)US$1,097 million(2009)
FDI outflows
200820092010
US$81 millionUS$36 millionUS$-12 million
Value of cross-border M&A, by country of purchaser
2008200920102011
N/AN/A(2009)N/A(2009)N/A
Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 82 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 45 out of 183 countries(2009)

Registering property: 72 out of 183 countries

Paying Taxes: 149 out of 183 countries

Getting credit: 15 out of 183 countries

Protecting investors: 15 out of 183 countries

Trading across border: 75 out of 183 countries

Enforcing Contracts: 89 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		78

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 70 Score: 64 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC+1
Total area 28,748 km2 (2006)
CapitalTirana (Tirane) (2009)
Currencyleke (ALL) (2009)
Government typeemerging democracy (2009)
LanguagesAlbanian (official - derived from Tosk dialect), Greek, Vlach, Romani, Slavic dialects
ReligionsMuslim 70%, Albanian Orthodox 20%, Roman Catholic 10%
Total population
1980199020002010*2015**
2.67 million3.2 million3.06 million3.2 million3.28 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
30.7%33.8%41.7%47.4%
Population median age29.0 years (2006)
Population growth rate0.4% (2009)
Life expectancy76 years (2007)
Adult literacy99% (2000/2007)
% of population living on less than $2 a day4.25% (2011)
Inequality of wealth distribution (Gini index)

34.5 (2008)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:3
Civil Liberties:3 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

152.27% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population45% (Data were released in 2011 and refer to 2010)
Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Tirana: 200th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

1.3289 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST EMERGING MARKET BANKS

2011:
  • COUNTRY WINNERS International Commercial Bank (National, 2011)
2010:
  • COUNTRY WINNERS International Commercial Bank (National, 2010)
2009:
  • COUNTRY WINNERS International Commercial Bank (National, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE