Source
Central bank

Bank of Albania

International Reserves

USD 3.1 billion (2015)

International Monetary Fund (IMF), data retrieved January 2017

Gross Domestic Product - GDP

USD 12.9 billion (2017, estimate)

GDP (Purchasing Power Parity)

Intl$ 36.2 billion (2017, estimate)

Real GDP growth
2006 2007 2008 2009 2010 2011 2012
5.9% 6% 7.5% 3.4% 3.7% 2.6% 1.4%
2013 2014 2015* 2016* 2017*    
1% 1.8% 2.8% 3.4% 3.7%    

*Estimate

GDP per capita - current prices

USD 4,470.5 (2017, estimate)

GDP per capita - PPP

Intl$ 12,582.7 (2017, estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2017*
0.04% 0.03% 0.03% 0.03% 0.03%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 21.6% 
  • industry: 14.9% 
  • services: 63.5%

(2016 estimate)

Gross domestic expenditure on R&D; (% of GDP)

N/A

Inflation
2013 2014 2015 2016* 2017*
1.9% 1.6% 1.9% 1.1% 2.2%

*Estimate

Unemployment rate
2013 2014 2015 2016* 2017*
16.0% 17.5% 17.1% 16.9% 16.6%

*Estimate

Household saving rates

N/A

Public debt (General government gross debt as a % of GDP)
2013 2014 2015 2016* 2017*
70.4% 72% 73.3% 72.2% 69.1%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2013 2014 2015 2016* 2017*
-5.2% -5.5% -4.1% -2.5% -2.5%

*Estimate   

Government bond ratings

Standard & Poor's: B+

Moody's: B1

Standard & Poor's / Moody's (Updated January 2017)

Market value of publicly traded shares
2013 2014 2015
N/A N/A N/A
Largest companies

N/A

 
 
Source
Current account balance

USD -1.8 billion (2017 estimate)

Current account balance by percentage of GDP

-13.8% (2017 estimate)

Exports as percent of GDP (Exports of goods and services)

27.2% (2015)

Shares in world total merchandising export

0.01% (2015)

Shares in world total commercial services export

0.05% (2015)

Total exports

USD 810.5 millions (2016 estimate)

Export commodities

Textiles, footwear; asphalt, metals and metallic ores, crude oil; vegetables, fruits, tobacco

Total imports

USD 3.6 billion (2016 estimate)

 
 
Source
Import commodities

Machinery and equipment, foodstuffs, textiles, chemicals

Exports - major partners

Italy 43.4%, Kosovo 9.8%, US 7.7%, China 6.2%, Greece 5.3%, Spain 4.8% (2015)

Imports - major partners

Italy 33.5%, China 10.1%, Greece 9%, Turkey 6.7%, Germany 5.2% (2015)

FDI inflows
2013 2014 2015
USD 1,266 million USD 1,110 million USD 1,003 million
FDI outflows
2013 2014 2015
USD 40 million USD 33 million USD 38 million
Value of cross-border M&A, by country of purchaser
2012 2013 2014 2015
N/A N/A N/A N/A
Cross-border M&A deals worth over $3 billion completed in 2014

N/A

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

Cross-border M&A deals worth over $3 billion completed in 2015

N/A

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

Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 58 out of 190 countries (2017)

Subcategories:

Starting a business: 46 out of 190 countries

Enforcing Contracts: 116 out of 190 countries

Registering Property: 106 out of 190 countries

Getting credit: 44 out of 190 countries

Protecting investors: 19 out of 190 countries

Trading across border: 24 out of 190 countries

Paying Taxes: 97 out of 190 countries

Dealing with Construction Permits: 106 out of 190 countries

Getting Electricity: 156 out of 190 countries

Resolving Insolvency: 43 out of 190 countries

Global competitiveness ranking

80 out of 138 countries

(2016-2017)

Index of Economic Freedom

Ranking: 59 / Score: 65.92 (Moderately free) (2016)

(100=totally free 0=totally repressed)

 
 
Source
Time zone

UTC+1

Total area

28,748 sq km

Capital

Tirana (Tirane) 

Currency

Leke (ALL) 

Government type

Parliamentary republic

Languages

Albanian 98.8% (official - derived from Tosk dialect), Greek 0.5%, other 0.6% (including Macedonian, Roma, Vlach, Turkish, Italian, and Serbo-Croatian), unspecified 0.1% (2011 est.)

Religions

Muslim 56.7%, Roman Catholic 10%, Orthodox 6.8%, atheist 2.5%, Bektashi (a Sufi order) 2.1%, other 5.7%, unspecified 16.2%

Total population
1990 2000 2010 2016* 2021*
3.306 million 3.089 million 2.913 million 2.885 million 2.862 million

*Estimate

 
 
Source
Urban population as % of total population
1960 1980 2000 2015
31% 34% 42% 57%
Population median age

32.5 years (2016 estimate)​

Population growth rate

0.31% (2016 estimate)

Life expectancy

78.3 years (2016 estimate)

Literacy

Total population: 97.6%
Male: 98.4%
Female: 96.9% (2015 est.)

(age 15 and over can read and write)

% of population living on less than $3.10 a day

1.4% (2012)​

Inequality of wealth distribution (Gini index)

29.0 (2012)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights: 3
Civil Liberties: 3 (2017)                         

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

Source
Total telephone subscribers as % of population

Fixed 7.09%   Mobile 106.38% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

63.25% (2015)

Mercer Cost of living index

Tirana: 186th (2016)

CO2 emissions

1.7 (2013)

World's Best Developed & Emerging Markets Banks

World’s Best Investment Banks

World's Best Banks By Region

World's Best Banks

2013

Best of…

Additional Awards