Personal Income Tax Rates
The OECD defines tax as a compulsory unrequited payment to the government. A taxable base is the base amount on which the tax rate is applied—such as corporate income, personal income, or property.
Albania GDP and Economic Data
Includes Albania real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Albania economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Albania best banks and safest banks are also available.
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International Reserves
USD 4.82 billion (2020)
World Bank, last updated 12/16/2021
Gross Domestic Product - GDP
USD 16.77 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
Source
GDP (Purchasing Power Parity)
USD 44.49 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
Source
Real GDP growth
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 3.8% | 4.1% | 2.2% | –3.3% | 5.3% |
*Estimate
Source
GDP per capita - current prices
USD 5,837.18 (2021 estimate)
IMF - World Economic Outlook, October 2021
Source
GDP per capita - PPP
USD 15,487.00 (2021 estimate)
IMF - World Economic Outlook, October 2021
Source
GDP (PPP) - share of world total
0.03% (2021 estimate)
IMF - World Economic Outlook, October 2021
Source
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GDP - composition by sector
- agriculture: 19.3%
- industry: 19.7%
- services: 48.4%
(2020 estimate)
Inflation
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 2% | 2% | 1.4% | 1.6% | 1.9% |
*Estimate
Source
Unemployment rate
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 13.7% | 12.3% | 11.5% | 11.7% | 12% |
*Estimate
Source
Public debt (General government gross debt as a % of GDP)
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 71.9% | 69.5% | 67.8% | 77.6% | 81.5% |
*Estimate
Source
Public deficit (General government net lending/borrowing as a % of GDP)
| 2017 | 2018 | 2019 | 2020* | 2021* |
| 0.7% | 0.9% | 0.1% | –4.7% | –4.5% |
*Estimate
Source
Government bond ratings
Standard & Poor's: B+
Moody's: B1
Standard & Poor's / Moody's (January 2022)
Source
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Current account balance
USD -1.5 billion (2021 estimate)
IMF - World Economic Outlook, October 2021
Source
Current account balance by percentage of GDP
-8.6% (2021 estimate)
IMF - World Economic Outlook, October 2021
Source
Exports as percent of GDP (Exports of goods and services)
23.1% (2020)
World Bank - World Development Indicators (updated Feb 2022)
Shares in world total merchandising export
0.01% (2020)
Shares in world total commercial services export
0.05% (2020)
Export commodities
Leather footwear and parts, crude petroleum, iron alloys, clothing, electricity, perfumes (2019)
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Import commodities
Refined petroleum, cars, tanned hides, packaged medical supplies, footwear parts (2019)
Exports - major partners
Italy 45%, Spain 8%, Germany 6%, Greece 5%, France 4%, China 4% (2019)
Imports - major partners
Italy 28%, Greece 12%, China 11%, Turkey 9%, Germany 5% (2019)
FDI inflows
| 2018 | 2019 | 2020 |
| USD 1.3 billion | USD 1.3 billion | USD 1.1 billion |
FDI outflows
| 2018 | 2019 | 2020 |
| USD 83 million | USD 128 million | USD 89 million |
Value of cross-border M&A, by country of purchaser
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:
82 out of 190 countries
Subcategories:
Starting a Business: 53 out of 190 countries
Dealing with Construction Permits: 166 out of 190 countries
Getting Electricity: 107 out of 190 countries
Registering Property: 98 out of 190 countries
Getting Credit: 48 out of 190 countries
Protecting Minority Investors: 111 out of 190 countries
Paying Taxes: 123 out of 190 countries
Trading across Borders: 25 out of 190 countries
Enforcing Contracts: 120 out of 190 countries
Resolving Insolvency: 39 out of 190 countries
World Bank - Doing Business 2020
Source
Global competitiveness ranking
81 out of 141 (2019)
Index of Economic Freedom
Ranking: 50 / Score: 66.6 (Moderately Free)
The Heritage Foundation - 2022 Index of Economic Freedom
Source
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Languages
Albanian 98.8% (official - derived from Tosk dialect), Greek 0.5%, other 0.6% (including Macedonian, Romani, 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% (2011 est.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020 |
| 3.3 million | 3.1 million | 2.9 million | 2.9 million | 2.8 million |
Source
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2020 |
| 30.7% | 33.8% | 41.7% | 62.1% |
Literacy
Total population: 98.1%
Male: 98.5%
Female: 97.8% (2018)
Definition: age 15 and over can read and write
% of population living on less than $3.10 a day
1.2% (last available estimate, 2019)
Inequality of wealth distribution (Gini index)
30.8 (last available estimate, 2019)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Total score: 67/100
Status: Partly Free
Political Rights: 28/40
Civil Liberties: 39/60 (2022)
Source
Total telephone subscribers as % of population
Fixed: 7.8%
Mobile: 91.0% (2020) (fixed-telephone subscribers and mobile-cellular subscribers)